VALRUZIAN ECONOMY BENEFITS FROM THE NOWOGARD'S OLYMPIC HYPENowogard,
March 4382Graph depicting the trends in the Valruzian economy in 4380.
NOWOGARD - With nearly twelve months having passed since the 4380 Nowogard Olympic Games entertaining the whole of Valruzia and millions of people around Terra, the economic benefits are expected to be present and felt in Valruzia for many years to come. According to the recent analysis conducted by the Valruzian Economist, thanks to the Olympic Games in Nowogard, the Valruzian economy has seen a GDP trade and investment boost of a little over 190 billion pesos, which is an outstanding result, especially due to the fact that the total estimated cost of the Games is 91.4 billion pesos.
According to the analysis, the year 4380 was also another record year for the number of foreign tourists visiting Valruzia. More than 39 million people have decided to come to Valruzia, experts say that the Olympics played the significant factor, but also that this may serve as an encouragement for the Valruzian private sector (tourism) to invest more and grow. The Olympics helped to create thousands of new jobs in Valruzia, not only in Nowogard but also in other cities. According to an annual report made by the Sejmiks of the Voivodeships, the Gryfit Lake District has witnessed one of the largest surge of tourists since 4350 with more than 3 million visitors. The hotel industry witnessed the creation of over 17 thousand new hotel rooms which is an outstanding number.
One of the biggest concerns of the Government of Valruzia was whether the Olympic Park would generate profit to become self-sustainable after the Games, due to the fact that the cost of the Olympic Park "
House of Peace" in Nowograd was one of the largest investment in such venue in the history of the Olympics, and consumed 73.8 billion pesos, with 49.2 coming from the budget, 21.4 from National Economic Fund and the remaining part from private investors. Right after the Closing Ceremony, a race in order to find a solution to the Olympic Park's future began, and it was decided that the Olympic Village on the east bank of the Libard river would be sold to private investors. In December 4380 the Olympic Village was sold to Valruzian-operating, a Trigunian-based private investor for 17.8 billion pesos, and in January this year, the PGI (name of the company) has decided to turn the Village into a prestigious neighborhood.
The analysis of the Valruzian Economist highlights the fact that the Olympics have acted as a catalyst for the construction of a new airport for the Valruzian capital. For many years it was debated whether the city needed a new airport, with the supporters pointing out that the Ingnanski Airport is closing to its maximum capacity. The Olympics have convinced the city that a new airport will indeed be a good investment for the city. City's new airport serves now as a hub for BaltusiaAir (LOT's subsidiary) with LOT Valrusian Airlines and Tucan Air dominating on the older airport.
The large number of tourists who flocked to Nowogard for the 4380 Olympic Games also helped lift the Valruzian economy. With more than 1.1 million people, reported, who visited the city for the Game, or attended a ticketed event, spent an average VPO 5.450 during their visit, compared to VPO 1.490 by other visitors.