The 2002 Olympics and its effect on the economy
By Dylan O'Connor
The Winter Olympics of 2002 has had a lasting impact on the economy that has continued to grow and prosper since all those years ago. Specifically for the Olympics, Utah had 2.1 billion dollars of spending money. In spending this money to host the Winter Olympics in 2002, it stimulated the economy as more people had jobs, businesses were booming due to all the visitation that was being done by attendees and participants of the Olympics, and more businesses began to grow as a result of this new incoming business. It is calculated that after Utah spent 2.1 billion dollars in order to host the Olympics in 2002, 4.8 billion dollars were made as a result of the money spent. Not only was money made, but many of Utah’s ski resorts got put on the map also as a result of all this tourism taking place. In a way, the winter Olympics of 2002 officially put Utah on the map as officially being a contender for having the best snow on earth as many people say. The economy prospered then and is still prospering now as a result of the winter Olympics of 2002.
As I stated before, thousands of Utahans were employed because of the Olympics, reaching a magnitude of some 12,600 jobs for the year of 2001 and peaking at 25,000 jobs during the month of the Games of February 2002. Employment averaged one half of one percent of Utah’s total employment as well as one-fifth of Utah’s job growth during this time. To be more sincere, job growth was evident during the five year period of preparing and then hosting the winter Olympics. More people were employed during this period which stimulated the overall economy. Before this time, Utah had many preconceived notions about it. Due to the winter Olympics of 2002, Utah has enjoyed publicity, prestige, and many other benefits. Due to an increase in prestige and publicity, Utah has created a stable economy that is consistently growing. The ski resorts of Utah have now been visited by millions around the world and are constantly receiving an increasing amount of tourism that is constantly going up all the time. The Olympics of 2002 put many of these ski resorts on the map like I said because many of the people that went to go see the Olympics in 2002 were impressed by how great they were and word got out and now the rest is history. People now still constantly come to Utah to visit these many ski resorts which not only supply people with more jobs but also create a stable economy, if not an increase in money going into the economy through those winter months. The publicity that the Olympics gave Utah still has an impact on the economy of Utah today and will continue to have an impact for years to come.
I am Dylan O’Connor and I am a freshman here at the University of Utah. I am from San Clemente California and I live with my parents and my younger brother. As of right now, I am undecided with my major however, I believe communications will be the route I go down. I am a part of the fraternity Beta Theta Pi here at the university and I hope to continue to be more involved in other activities along the way. Lastly, I am a huge sports fan and will always talk to you about sports so let me know your favorite teams.