Mar 2010 4

Post–Olympic Times Ahead

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Gold Medal by Mission Canada Gold Medal by Mission Canada

The biggest party of last decades is over. The torch is extinguished, gold medals are counted (and we can say 14 gold medals were a huge success for Canadian sport) and visitors have been leaving. Are we about to expect an Olympic hangover in BC?

I don't believe so. Despite all the bad circumstances (accidental death just before the start, worst weather conditions in years), the Games were well organized and presented our country in a very pleasant light. Thousands of visitors were surprised by the beauties of Canada, and especially by the British Columbia.

The prospects to sustain the Post-Olympics slump are good. We can expect number of tourists coming from the USA and Europe to visit Vancouver and British Columbia. Thousands of them, astonished by images they saw and informed by marketing campaign, may invest into recreational property in these parts of BC. But it's not only about individual tourists - Convention Centre is largely booked for the next five years.

Also generally sound economic background in British Columbia will be here to push us further ahead. Unemployment in BC is lower than the national average and helps to sustain consumption levels. World Natural resources markets show growing interest in our resources. Real estate market remained steady even during the Olympics (as you will see in our upcoming report) and no serious bubble was created. Federal and provincial budget schedules seem remained undistorted by any unexpected expenses.

It's time to return back to work, but despite the Games were a great party, I think most of us will have no hangover at all.

P.S. Don't forget the Games are not completely over yet. The Paralympic Cauldron will be lit in Vancouver March 12

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