Andrew8 Posted February 22, 2007 Report Share Posted February 22, 2007 Some keypoints into this article. PyeongChang expects to reap many benefits from the Olympics through broadcasting, marketing, Sponsorship, the legacy of the games (stadium, roads, hotels, etc), and the fact that Asia is the new frontier for Winter Sports. Additionally, many new jobs and a boost in the economy is expected from hosting these games. http://korea.net/News/Issues/issueDetailVi...?board_no=15456 The 2014 Winter Olympic Games, if hosted by bidding city PyeongChang, would likely bring Korea enormous economic spin-off effects. According to a Korea Institute for Industrial Economics and Trade feasibility study released last January, the 2014 Winter Olympiad is predicted to post 15 trillion won (about $16 billion) in total production as well as an additional 7 trillion in added value while creating 220 thousand jobs. Other potential spin-off effects from the event include the vitalization of PyeongChang's regional economy, more balanced development, further development of information technology, expanded influx of investment and promotion of the local government as well as the nation as a whole. The 1994 Winter Olympics in Lillehammer, Norway, recorded 58 billion won in profit, with 44 billion for the Nagano 1998 Winter Olympiad, and 42 billion won each for the Salt Lake 2002 and the Turin 2006 Winter Olympiads. Considering the recent steep rise in TV-broadcasting fees and the sponsors' revenues, PyeongChang is expected to set a new record in this regard. As part of efforts to support PyeongChang's bid, the Korean government has spent 30.5 billion won to build stadiums and expand transportation infrastructure. An additional 80 billion won has been earmarked to build the Wonju-Gangneung and PyeongChang-Jinbu national roads and extend the Yeongdong Highway. The stadium construction and transportation network is expected to cost some 561 billion won and 3.62 trillion won, respectively, or 4.18 trillion won in total. In light of the fact that PyeongChang is emerging as a winter-sports mecca for Asians -- especially Southeast Asians, if it hosted the international event, the surrounding Gangwon-do (province) would rapidly transform into a Northeast Asian tourist hub. Pyeongchang hosting the 2014 Winter Olympics will pave the way for Asia to advance its sports industry while elevating the nation's brand value, among other spin-off effects, a PyeongChang bid committee official said. Link to comment Share on other sites More sharing options...
Andrew8 Posted March 1, 2007 Author Report Share Posted March 1, 2007 Another related article about the benefits of hosting the Olympics in Korea... http://korea.net/news/news/newsView.asp?se...Day=&page=1 Link to comment Share on other sites More sharing options...
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