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The Olympics were a success but far greater steps could have been taken to ensure transparency in their budgets, said Kathy Corrigan, the provincial New Democrats' Olympic critic.

The study does not account for the economic impact of provincial spending on the Games, as that money would likely have been spent on other programs had the Games not taken place.

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Neither Vancouver organizers nor the IOC would disclose how much the contribution was in the end.

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$129 million in the same time frame.

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The federal government gave an additional $30.7 million for translation, the Paralympics and Own the Podium, while the provincial government contributed an additional $49.5 million to the organizing committee directly and then spent more for the torch relay, opening ceremonies and the look of the Games.

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"It was a great event, but the question is whether or not the taxpayers of British Columbia were well served and whether it was a good investment," she said. coffers.

The PricewaterhouseCoopers study said the first three months of 2010 alone put over $862 million into the provincial economy.

The latest report examines all the revenues generated since Vancouver won the bid in 2003, but also focuses on the months around the Games themselves. in February 2010 was significant," the report said.

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Organizers repeatedly blamed the recession for the increase in their costs, but transportation and accommodation costs were a challenge long before the global economic collapse.

The committee's final figures were up $250 million from their original 2007 Nike Tracksuit Mens Jd

But Furlong said all the investments were targeted to make sure that Canadians got as much out of the Games as they could.

Revenue from restaurants and bars was up Nike Hoodie Royal Blue

The committee acknowledged Friday that the success of the Games came from the fact that the federal and provincial governments opened their wallets a little more than they'd originally planned.

According to briefing documents obtained under the Access to Information Act, organizers first told the federal government about a potential funding shortfall in the spring of 2008.

While 91 per cent of the budget came from the corporate sector, taxpayers footed $187 million of the operational bill, and the cost of the venues at $603 million.

Earlier reports into the potential economic impact of the Olympics suggested the Games could bring as much as $4.2 billion into the economy, through to 2015.

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"There was an opportunity to take something that we were doing to a completely different level," he said.

tickets. They also used $730 million of domestic sponsorship money.

Organizers did raise more money than planned $54.6 million worth of merchandise, including 3.5 million pairs of Olympic red mittens and $269.5 million worth of Nike Windrunner Maroon And White

A comparison of budgeted figures from 2009 and the final numbers suggests the contribution was $9 million, far less than the maximum $22 million the IOC had suggested it would pay.

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2010 Nike Tracksuit Cream Winter Olympic Games break even with

The report is part of a series commissioned by the federal and provincial governments to track the costs and benefits associated with hosting the Games. Finance Minister Colin Hansen in a statement.

The International Olympic Committee also stepped in with an extraordinary commitment, as Vancouver organizers had developed their initial budget on the belief there would be more international sponsors than eventually materialized.

But costs also escalated, with the final line item for services and Games operations ringing it at over $100 million more than budgeted in 2009.

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