The ‘look-of-the-city’ legacies include numerous public art pieces around key venues and locations (Toderian, 2010). Developed as permanent installations, they are now integrated into the urban realm, making the City more visually appealing (Toderian, 2010). The art installation integrated in the architectural design of the SEFC Energy Center is a great example of an inventive and educating use of public art. LED lights, incorporated in the utility’s finger-like exhaust stacks, change colors following fluctuations in energy demand – from blue in times of a low energy demand to red at times of a high demand (see Figure 1 on the right ) (Vancouver Green Capital, n.d.) The psychological effects and physical legacies of the Olympics are just few examples of the profound changes created by the Games in the City of Vancouver. Some changes were for the worse, some were for the better. Some outcomes the City of Vancouver envisioned in its bid book and planned, whereas some outcomes were unintended. This chapter attempts to provide a comprehensive analysis of the environmental, social and economic outcomes of the Games generated by the City’s Olympic functions. In particular, this chapter dwells on lasting sustainability benefits of the Olympics or lack of Figure 1 SEFC Energy Center. Source: thereof. The Center for Sustainable Practice in Arts. Retrieved from http://www.sustainablepractice.org/
3.2 Economic Impacts Long term effects of the Games on the City’s economic sustainability are yet to be seen. The economic impacts of the Vancouver Olympics will take years and even decades to fully unfold. They will be determined by the long-term balance of economic benefits and burdens produced by the Games. Olympic benefits can arise from potentially sustained boost of the local economy from increased tourist and visitor spending, larger tax revenues, new jobs, capital spending by the three levels of government and VANOC, as well as potential business, trade and investment opportunities generated by Vancouver’s international exposure. Olympic burdens on Vancouver’s economy will result from the public debt incurred by the City to complete the construction of the Olympic Village, as well as potentially reduced provincial and municipal financing of other socially important programs due to the constraints of their respective budgets stretched by the Olympic spending. Any potential long-term economic sustainability benefits of the Games will most likely be overshadowed by the financial crisis of 2008 and resulting economic downturn, which has been tormenting Vancouver ever since then. 3.2.1 Economic Benefits The Games’ potential to stimulate economic growth in host cities is arguably a raison-d’etre of the Olympics and was therefore an important factor in Vancouver’s decision 31