1. Economic Effects
1.1. Positive Effects
1.1.1. Businesses and jobs → New businesses and new jobs were created that related directly to the Olympics such as venue operation, as well as indirectly such as hotel and restaurant jobs. The creation of 2,500 full-time jobs fuelled fiscal growth in the region.
1.1.2. Real estate → Increases in the cost of hotel stays and in real estate prices in the year 2010 were both likely due to the Games.
1.1.3. Tourism → Increases in YVR airport traffic (passenger and freight) and in visitor spending around the time of the Games were both potentially due to the 2010 Winter Games.
1.1.3.1. Citing information from the Canada Tourism Commission, the reports states international tourists spent almost $400 million, which was an increase of 11 per cent over the first quarter of the previous year. American visitors spent almost $270 million, which represented an increase of almost 20 per cent.
1.1.4. Tax revenue → The Games-time report conservatively estimates that the public sector benefited by at least $50 million (CAD) in total tax revenue from Olympic activities.
1.2. Negative Effects
1.2.1. Planned to cost $2.0 billion USD but ended up costing $7.6 billion USD
1.2.2. Took 4 years to break even financially
1.2.3. Ended up with $630 million in debt after hosting the 2010 Games
1.2.4. Cost B.C. taxpayers $925 million
2. Environmental Effects
2.1. Positive Effects
2.1.1. There were some measures taken to reduce the amount of environmental damage
2.1.1.1. Used the games to raise public awareness of sustainable living conditions
2.1.1.2. The community centre in the Vancouver Olympic Village will be built to LEED platinum rating and be energy neutral. All the other buildings in the Vancouver Olympic Village will be built to LEED (Leadership in Energy and Environmental Design) gold rating. Platinum is the highest rating and gold is the next best.
2.1.1.3. Secured the first carbon offset sponsor of the Olympic Movement, Offsetters Clean Technology, to finance and deliver carbon reduction projects to offset the direct carbon footprint from the Games, as defined by VANOC
2.1.1.4. VANOC ticket buyers received electronic communication and links on how to account for Games-time carbon emissions.
2.1.1.5. The Olympic and Paralympic Village in Whistler reused captured methane gas from a former landfill for energy and the primary heat source for the community was waste heat recovered from the municipal wastewater treatment system
2.2. Negative Effects
2.2.1. Data from VANOC showed that Olympic-related greenhouse gas emissions increased every year following 2005, with an eight-fold increase during Games-time, mainly due to transportation to and around Vancouver.
2.2.1.1. Constructing stadiums and increased traffic led to more pollution
2.2.2. Increased energy consumption and relying on fossil fuels
2.2.3. The construction of all the stadiums obviously impacted the environment
3. Perspectives
3.1. Government
3.1.1. The Government had to consider all the benefits and negatives of the environmental, social, and economic effects as well as the perspectives of the stakeholders. In the end, they supported the hosting of the Olympics as they saw a once in a lifetime opportunity.
3.2. Large Businesses
3.2.1. Saw the Olympics as an opportunity to capitalize with advertising and sponsorship. Large audience watching means an ideal opportunity to take advantage of. This group benefited from hosting the Olympics as they were able to profit off this event.
3.3. Local Businesses
3.3.1. Restaurants, hotels, cafes, local stores, entertainment places all saw the Olympics as an opportunity to benefit since there would be an increased amount of human traffic from tourism and the athletes. Perfect opportunity to grow and make money. This group also benefited as those months during the Olympics were probably the busiest times ever for some businesses.
3.4. Country of Canda
3.4.1. Obviously, with such a large group, there were many different opinions. Some supported it as they saw it as an opportunity for national pride. Others thought there were more important issues for the government to be spending their money on instead of the Olympics. There were various protests before the Olympics which led to arrests. In the end, as a whole, Canada benefited in some ways but also lost in some ways as well. Canada got an image boost and felt a surge of national pride. However, the cost ended up being higher than expected and Canada was in debt.
4. Social Effects
4.1. Positive Effects
4.1.1. Inclusion → Indigenous groups and minorities participated in the bidding, planning and staging of the Games. Data from polls showed that public awareness of people with disabilities increased as a result of the Games.
4.1.2. Building of Olympic Village is still used for housing today
4.1.3. National Pride increased as Canada is in the spotlight
4.1.4. Opportunity to "show off" Canada to the rest of the world
4.2. Negative Effects
4.2.1. Homeless individuals living close to 2010 Games venues asked to relocate or face arrest when fences go up for security reasons
4.2.2. Fewer social services available as government struggled to pay off Games-related debts.
4.2.3. Homeless youth were pushed into areas of downtown Vancouver where drugs and prostitution are rampant
5. More Perspectives
5.1. Residents of Vancouver
5.1.1. Again, differing opinions, as some were excited for this opportunity to host such a prestigious event. There were some concerns about the increased traffic from the tourists and athletes as well as the inflation that may occur due to all the tourism. This is another group that benefited as the city was in the spotlight with a once in a lifetime opportunity. The Olympics also spurred major infrastructure developments that helped transform Vancouver
5.2. Homeless Community
5.2.1. Since the community had to be displaced, we can assume many didn't support the Olympics. The community as a whole and especially the homeless youthlost from this event as they were displaced into dangerous areas.
5.3. Indigenous Community
5.3.1. There were mixed thoughts within this community. Although, there had some involvement in the planning, there were still concerns. Some of the stadiums were built on their traditional territories. They also expressed concern over the choice of an inukshuk as the symbol of the Games, with some Inuit leaders stating that the inukshuk is a culturally important symbol to them. This group benefited and lost as they were part of the planning part which was a great thing, however, there were still issues.
5.4. Environmentalists
5.4.1. Didn’t support the hosting of the Olympics due to construction of all the stadiums that they argued wouldn’t be used later on. Severe increase in carbon emissions and more energy consumption. This group didn't benefit as hosting the Olympics ultimately hurt the environment.