Vancouver Games Feel Effects of Worldwide Recession

Just a few days after the London (2012) and Sochi (2014) Olympic organizers announced that current economic conditions are not having an effect on their construction plans, the Vancouver Games made public their cost-cutting efforts, necessary in the wake of the economic downturn.

Although revenues have exceeded expectations for 2008, they are revising their 2009 budget and making cuts to operations and preparations relating to the Games. They are also looking for back-up sponsors just in case a major sponsor (such as General Motors) pulls their support. Says Vancouver Organizing Committee CEO, John Furlong, “I don’t think what we’re doing will hurt us long term at all, ultimately it will lead to a better outcome.”