BUSINESS + ECONOMY

Kem C. Gardner Policy Institute predicts economic output of 2034 Winter Olympics

Jul 10, 2024, 5:00 PM | Updated: Jul 11, 2024, 10:22 am

Kem C. Gardner Policy Institute predicts economic output of 2034 Winter Olympics...

Kem C. Gardner Policy Institute predicts economic output of 2034 Winter Olympics. (Scott G Winterton/ Deseret News)

(Scott G Winterton/ Deseret News)

SALT LAKE CITY– The University of Utah’s Kem C. Gardner Policy Institute predicted the 2034 Winter Olympics could generate $6.6 billion in economic output.

In comparison, the last time Utah hosted the Olympics, it generated $7.5 billion. 

The estimate comes in anticipation of the International Olympic Committee’s July 24 announcement of the host of the 2034 games. 

“If Utah is selected, we estimate the Games would have significant economic and fiscal impacts for the state, generating new jobs, income, and $6.6 billion in economic output,” said John Downen, the report’s lead author and a senior fellow at the Kem C. Gardner Institute. 

The 2002 Winter Olympics brought $7.5 billion to the state, per the Kem C. Gardner Institute. However, Salt Lake City spent $4.3 billion. 

Since the Beehive State already has the infrastructure, the 2034 games will cost less to host. 

What Utah could spend for the 2034 Winter Olympics

According to the press release, Utah has maintained its venues from the 2002 Olympics, so the committee expects to only spend $31.2 million if it is awarded the 2034 games. 

In comparison, the state spent $286.7 million on facilities for the 2oo2 games. That number has adjusted for inflation. 

Additionally, the committee has budgeted $206.2 million for temporary infrastructure related to the 2034 Winter Olympics.

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Kem C. Gardner Policy Institute predicts economic output of 2034 Winter Olympics