The 2010 Vancouver Olympics tickets won’t sell near as much as those for the Beijing games this summer much due to the panic surrounding the credit crunch.
The financial crisis ravaged Canadian tourism this year, and that include British Columbia, the host province of the winter Olympics.
"What has become common is to generate some economic leveraging around the Games," Ed Mansfield of PricewaterhouseCoopers said. "If the world’s economy is turbulent, there will be far less of those individuals that will be coming.
2010 Vancouver Olympics Tickets went on sale on Friday and were planned to be on sale for the next five weeks. With all the economic hesitation, however, perhaps they’ll have to open that window for longer.
2010 Vancouver Olympics Tickets will be priced between $25 to $1,100. Vancouver hopes to sell 70%, or 1.6 million, of the tickets to the public.
Credit Crunch On Sports, Tourism
2010 Vancouver Olympics Tickets Sales May Hurt
Trend Themes
1. Decreased Sports Event Attendance - Due to the credit crunch and economic uncertainty, there may be a trend of decreased attendance for sports events.
2. Lowered Ticket Prices - As a response to the decreased demand for event tickets, there may be a trend of lowered ticket prices for sports and entertainment events.
3. Virtual Sporting Events - As a result of decreased physical attendance, there may be a trend of creating virtual experiences for sporting events that allow people to participate remotely.
Industry Implications
1. Sports and Entertainment - The sports and entertainment industry may seek solutions that can maintain interest and revenue amidst decreased physical attendance due to economic uncertainty.
2. Tourism - The tourism industry may seek to innovate and create unique experiences that can attract individuals despite financial concerns, and potentially lower the cost of these offerings.
3. Technology - The technology industry may have an opportunity to create solutions that enable virtual experiences for sporting events, such as creating virtual reality platforms or streaming games online.