The Sydney Olympics is an event of sufficient magnitude that it is [was] expected to have a significant positive impact on the NSW and national economies. Through the exposure that it gives to Sydney and New South Wales in particular, and as a consequence of the experience gained in preparing for and running the Games, there is scope for some longer term economic gains to be enjoyed. The prospect of the shorter term economic benefits being maximised, and longer term benefits being realised will be assisted by understanding the ways in which activities generated by the Olympics have consequences for the economy. This report identifies the ways in which the Olympic Games are likely to directly affect the economy, and contains a detailed quantitative assessment of the probable impacts on the Australian and NSW economies of the Sydney Olympic Games.
The conclusion of the study is that there are likely to be significant net economic benefits flowing from the Olympics, as indicated by the results reported below. However, those benefits that have been taken into account will be concentrated predominantly in New South Wales, and will be reasonably modest in relation to the economy overall with the total increase in NSW gross state product (GSP) over the eleven year period, worth around 4 per cent of 1995/96 GSP. The study also demonstrates that the extent of the economic benefits from the Olympics can be influenced by government policies, and considerable efforts will be required by both governments and the business community to maximise the longer term gains. And, even though a great deal of effort has been taken in the study to derive the best estimates of the direct impacts and associated flow on impacts, there is inevitably a degree of uncertainty surrounding such estimates not least because it will not be possible to see what the economy would have looked like in the absence of the Games.
Editor's comments - [ The report is the outcome of a collaborative study by the NSW Treasury and the Centre for Regional Economic Analysis at the University of Tasmania. The study has quantified many of the [projected in 1997] direct impacts associated with the Olympics, and the flow on impacts throughout the State and national economies. The broader economic impacts have been assessed using a model of the Australian economy, the Monash Multi-Regional Model, that separately distinguishes the NSW economy and each of the other State economies. ] Reference this?Cryer, J. (Year). This page title in italics. Retrieved date, from <this page's full URL>
In the text: Cryer (year)
Reference : NSW. (1997). The Economic Impact of the Sydney Olympic Games. Sydney: NSW Treasury
The above reference is in the APA style: See why this is important in our [how to reference] us guide.
Download this document [Use of this document may be limited by © copyright ; by downloading you consent to our terms and conditions ]