Editing 2002 Winter Olympics (section)

==Legacy==
===Ski industry and winter sport===
[[File:Utah Olympic Oval.jpg|thumb|Utah Olympic Oval]]
The 2002 Winter Olympics brought a huge amount of success to the Utah skiing industry. Since hosting the Winter Games, Utah has seen a 42% increase in skier and snowboarder visits {{as of|2010|lc=y}}–11. This increase resulted in direct expenditures from skiers and snowboarders growing 67% from $704&nbsp;million in 2002–2003 to $1.2&nbsp;billion in 2010–2011.<ref>{{cite web |url=https://www.ksl.com/article/19155597 |title=Economic impact of 2002 Olympics still felt |last=Lee |first=Jasen |date=February 8, 2012 |website=[[KSL.com]] |access-date=March 14, 2021 |archive-date=April 23, 2021 |archive-url=https://web.archive.org/web/20210423174619/https://www.ksl.com/article/19155597 |url-status=live }}</ref>

Fourteen venues were constructed or expanded in preparation for the Winter Games. One of the venues constructed for the Games was the [[Utah Olympic Park]], which has proven to be one of the most successful venues to date because it has been maintained in top competition form. Owing to the routine maintenance of the park, Utah has been able to host a large number of winter competitions since 2002, including more than 60 World Cup events (e.g. the [[FIS Freestyle Skiing World Cup]]), as well as seven world championships, and various other sporting events. Hosting these high-profile competitions has resulted in approximately $1&nbsp;billion being injected into the local economy.<ref>{{cite web |url=https://www.olympic.org/news/salt-lake-city-still-basking-in-2002-winter-games-legacies |title=Salt Lake City still basking in 2002 Winter Games legacies |date=January 21, 2014 |website=olympic.org |access-date=June 21, 2016 |archive-date=August 7, 2016 |archive-url=https://web.archive.org/web/20160807041445/https://www.olympic.org/news/salt-lake-city-still-basking-in-2002-winter-games-legacies |url-status=live }}</ref> During 2013–2014, Utah held 16 various winter sport events, bringing $27.3&nbsp;million to the economy of Utah.<ref>{{cite web|url=https://www.heraldextra.com/business/local/winter-sports-industry-crucial-to-utah-economy/article_5ecca646-e487-553c-98f5-e8ea04da8ff1.html |title=Winter sports industry crucial to Utah economy |date=December 15, 2013 |last=Hesterman |first=Billy |work=[[Daily Herald (Utah)|Daily Herald]] |archive-url=https://web.archive.org/web/20131216233150/https://www.heraldextra.com/business/local/winter-sports-industry-crucial-to-utah-economy/article_5ecca646-e487-553c-98f5-e8ea04da8ff1.html |archive-date=December 16, 2013 |url-status=dead}}</ref> After holding the Olympics, Utah became home to two National Governing Bodies of Sport.<ref>{{cite web |url=https://le.utah.gov/publicweb/MCKELMK/PublicWeb/21717/Utah_Olympic_&_Sports_Legacy_Q1_2014resized.pdf |title=Utah:The State of Sport, The Olympic Flame Continues to Burn |date=2014 |work=Utah Sports Commission |via=[[Utah State Legislature|le.utah.gov]] |archive-url=https://web.archive.org/web/20150911032638/https://le.utah.gov/publicweb/MCKELMK/PublicWeb/21717/Utah_Olympic_%26_Sports_Legacy_Q1_2014resized.pdf |archive-date=September 11, 2015 |url-status=dead |access-date=August 4, 2021 }}</ref> The [[U.S. Ski and Snowboard Association]] is headquartered in [[Park City, Utah]] and the U.S. Olympic speed skating team is based out of the [[Utah Olympic Oval]].

===University of Utah expansion===
The [[University of Utah]] was one of the hosts of the 2002 Winter Olympics; the planning committee approached the University of Utah and asked them to build several student dormitories which would serve as athletes' accommodation during the Games. It was agreed that the university would pay approximately $98&nbsp;million out of the total required amount of $110&nbsp;million to complete the construction. As a result, students of the university have benefited as almost 3,500 of them would be housed here after the Games. This was a great economic benefit to the university since the amount of money used to complete such dormitories could take long to be afforded. The university was also asked to expand [[Rice Eccles Stadium]] to accommodate 50,000 people up from 32,000. The university would then be refunded almost $59&nbsp;million and be given an extra $40&nbsp;million for its maintenance.<ref>{{cite web |url=https://www.nytimes.com/1997/11/09/realestate/the-2002-olympics-are-transforming-salt-lake-city.html |title=The 2002 Olympics Are Transforming Salt Lake City |work=The New York Times |last=Kopytoff |first=Verne |date=November 9, 1997 |access-date=February 19, 2022 |archive-date=February 20, 2022 |archive-url=https://web.archive.org/web/20220220035904/https://www.nytimes.com/1997/11/09/realestate/the-2002-olympics-are-transforming-salt-lake-city.html |url-status=live }}</ref>
<!-- Deleted image removed: [[File: Rice Eccles Stadium Areial View.jpg|thumb| RES is also home to the University of Utah football team.]] -->

The 2002 Olympic Games also benefited the university economically since the [[Salt Lake 2002 Olympic Cauldron Park]] was elevated by the renovations that took place. Ice rinks were very scarce in Utah, but they became plentiful and offered several entertainment and training opportunities for hockey players and figure skaters due to the Olympic Games. The Cauldron Park located at the University of Utah which was built with $6.5&nbsp;million in profits and had the following features: a visitors' center which had a theater that showed a thrilling movie about the Olympic Games of 2002 and a "park" which had a dazzling pool and a V-shaped stone wall with the names of all the medalists of the 2002 Olympic Games. Besides, the park had 17 plates that hung on the stadium's fence celebrating the highlights of each day of the Olympics. All these features acted as tourist attraction that boosted the economic development of the university. In addition, it is indicated that the approximate value of media exposure through print during the Games was equated to $22.9&nbsp;million. Mainly, this was a huge economic benefit to the university as more and more people got to know about the educational establishment, and this also boosted enrollment and future development.

===Immigration===
Holger Preuss in his book ''The Economics of Staging the Olympics: A Comparison of the Games 1972–2008'' argues that "The export of the 'Olympic Games' service results in an inflow of funds to the host city, causing additional production which, in its turn, leads to employment and income effects."<ref>{{Cite book |url=https://books.google.com/books?id=GQzccu2Qw-oC&q=%22inflow+of+funds%22 |title=The Economics of Staging the Olympics: A Comparison of the Games 1972–2008 |isbn=978-1-8-4376-893-7 |last=Preuss |first=Holger |year=2004 |publisher=Edward Elgar |page=36 |access-date=May 3, 2021 |archive-date=March 8, 2024 |archive-url=https://web.archive.org/web/20240308183132/https://books.google.com/books?id=GQzccu2Qw-oC&q=%22inflow+of+funds%22#v=snippet&q=%22inflow%20of%20funds%22&f=false |url-status=live }}</ref> According to the study "2002 Olympic Winter Games, Economic, Demographic and Fiscal Impacts", the estimated creation of new job years of employment was 35,424, and additional earnings of $1,544,203,000.<ref>{{cite web|url=https://digitallibrary.utah.gov/awweb/awarchive?type=file&item=12491 |title=2002 Olympic Winter Games – Economic, Demographic and Fiscal Impacts |date=November 2000 |publisher=State of Utah, Governor's Office of Planning and Budget |website=digitallibrary.utah.gov |pages=4, 14 |archive-url=https://web.archive.org/web/20210428145956/https://digitallibrary.utah.gov/awweb/awarchive?type=file&item=12491 |archive-date=April 28, 2021 |url-status=live |access-date=April 28, 2021}}</ref> It was noted that the increase of Olympic related job started in 1996 and continued until 2003. These effects can be estimated on the ground of historical relationship between job and corresponding population growth. A lot of people migrated into the future place of the [[Olympic Games]] for expanding and favorable employment opportunities that the Olympics ensured. Although residents occupied many of the higher paying jobs created by the Games, many of the vacated jobs were filled by immigrants who relocated for the better employment opportunities.

Basically, the immigration rate was even larger because the employees immigrated with their families. The additional people paid diverse taxes and fees from their income, creating additional revenue on the state and local levels.

===Employment===
Olympic related jobs in Utah started in 1996 with slight job opportunities of less than 100. However, from the job measurement conducted from 1996 to 2002, steady attainment of job opportunities established and a maximum level was noted in 2001 where there were 12,500 job opportunities attained yearly, and approximately 25,070 jobs created in 2002.<ref>{{Cite journal|url=https://doi.org/10.1177/0047287502041001006|title=Nonhost Community Resident Reactions to the 2002 Winter Olympics: The Spillover Impacts|first1=Cary|last1=Deccio|first2=Seyhmus|last2=Baloglu|date=August 1, 2002|journal=Journal of Travel Research|volume=41|issue=1|pages=46–56|via=SAGE Journals|doi=10.1177/0047287502041001006|s2cid=154897887|access-date=September 7, 2021|archive-date=March 8, 2024|archive-url=https://web.archive.org/web/20240308183129/https://journals.sagepub.com/doi/10.1177/0047287502041001006|url-status=live}}</ref> Therefore, from 1996 to 2002 the sum of employment equated to 35,000 jobs which lasted a year. February 2002 is when the highest employment opportunities were created compared to other years. There were around 25,070 job opportunities created compared to 35,000 created from 1996 to 2001.

It is difficult to quantify the impact of the 2002 Olympics on the [[unemployment rates]] in Utah, due mostly to the effect of the [[early 2000s recession]]. In 1996, the unemployment rate in Utah was approximately 3.4%, while the U.S. national average was 5.4% and by the end of 2001, the unemployment rate in Utah was around 4.8%, while the national average had risen to 5.7%.<ref>{{cite web |url=http://data.bls.gov/ |title=Databases, Tables & Calculators by Subject |publisher=Data.bls.gov |date= |access-date=February 10, 2022 |archive-date=December 3, 2008 |archive-url=https://web.archive.org/web/20081203213338/http://www.data.bls.gov/ |url-status=live }}</ref> There was a high percentage of visitors to the Games, which raised the number of tourists whose consumption and demand prompted the establishment of job opportunities to meet the demands.{{Citation needed|date=September 2021}}<ref>{{Cite web |last=Pace |first=Levi |date=2006-07-25 |title=Economic Impact of the 2002 Olympic Winter Games |url=https://gardner.utah.edu/_documents/publications/econ-dev/olympics-econ-impact.pdf |url-status=live |archive-url=https://web.archive.org/web/20171013004057/https://gardner.utah.edu/_documents/publications/econ-dev/olympics-econ-impact.pdf |archive-date=2017-10-13 |access-date=2022-07-23 |website=University of Utah Center for Public Policy and Administration}}</ref>

===2034 Winter Olympics===
{{more information|Bids for the 2034 Winter Olympics}}
In 2017, an exploratory committee was formed to consider a Salt Lake City bid for a future Winter Olympics.<ref>{{cite news|last1=Kamrani|first1=Christopher|last2=Gorrell|first2=Mike|date=October 16, 2017|title=Utah takes big step toward bidding for 2026 or 2030 Winter Olympics|work=Salt Lake Tribune website|url=http://www.sltrib.com/sports/2017/10/16/utah-forms-exploratory-committee-for-2026-or-2030-winter-games/|access-date=October 21, 2017|archive-date=October 20, 2017|archive-url=https://web.archive.org/web/20171020075041/http://www.sltrib.com/sports/2017/10/16/utah-forms-exploratory-committee-for-2026-or-2030-winter-games/|url-status=live}}</ref> In December 2018, the United States Olympic Committee (USOC, now the [[United States Olympic & Paralympic Committee]] [USOPC]) named Salt Lake City as its preferred candidate to bid for a future Winter Olympics, citing that its experience and existing venues could be leveraged.<ref>{{cite news|date=December 2018|title=Salt Lake City gets go-ahead to bid for Winter Olympics|newspaper=[[Los Angeles Times]]|url=https://www.latimes.com/sports/sportsnow/la-sp-winter-olympics-20181214-story.html|access-date=December 14, 2018|archive-date=December 15, 2018|archive-url=https://web.archive.org/web/20181215091645/https://www.latimes.com/sports/sportsnow/la-sp-winter-olympics-20181214-story.html|url-status=live}}</ref> In February 2022, amid the [[2022 Winter Olympics]] and the 20th anniversary of the Games in Salt Lake City, the USOPC stated that it was "already in dialogue with the IOC, not yet for a specific year but as part of their evolving process", and acknowledged that there was "very high excitement and support from the local population."<ref>{{Cite web|date=February 10, 2022|title=Officials to meet next week to discuss 2030 Winter Olympic Bid in Salt Lake City|url=https://www.insidethegames.biz/articles/1119076/salt-lake-olympic-bid|access-date=February 15, 2022|website=Inside the Games|archive-date=February 16, 2022|archive-url=https://web.archive.org/web/20220216043013/https://www.insidethegames.biz/articles/1119076/salt-lake-olympic-bid|url-status=live}}</ref>

In November 2023, the IOC recommended that Salt Lake City be invited to engage in "targeted dialogue" as preferred host for the [[2034 Winter Olympics]] due to its reliance on private funding and existing infrastructure inherited from the 2002 Games.<ref>{{Cite web |date=2023-11-29 |title=SLC named preferred host for '34 Winter Olympics |url=https://www.sportsbusinessjournal.com/Articles/2023/11/29/salt-lake-city-named-preferred-host-2034-winter-olympics |access-date=2024-01-26 |website=Sports Business Journal |language=en |archive-date=January 26, 2024 |archive-url=https://web.archive.org/web/20240126033059/https://www.sportsbusinessjournal.com/Articles/2023/11/29/salt-lake-city-named-preferred-host-2034-winter-olympics |url-status=live }}</ref>

On July 24, 2024, during the [[142nd IOC Session]] in Paris just before the [[2024 Summer Olympics]] in that city, Salt Lake City was selected to host the 2034 Winter Olympics and [[2034 Winter Paralympics|Paralympics]]. IOC President [[Thomas Bach]] said: "Salt Lake City and Utah are long-time friends of the Olympic Movement, and we are confident that they will organize exceptional Olympic and Paralympic Games, just as they did years ago. The legacy of 2002 is tangibly and passionately alive in Utah. The legacy of 2034 starts today."<ref>{{Cite web |date=July 24, 2024 |title=IOC elects French Alps 2030 as Olympic and Paralympic Winter Games host |url=https://olympics.com/ioc/142nd-ioc-session |access-date=July 24, 2024 |website=International Olympic Committee}}</ref> With the 2034 Winter Olympics, Salt Lake City will become the fourth city to host multiple Winter Games after Innsbruck ([[1964 Winter Olympics|1964]] and [[1976 Winter Olympics|1976]]), Lake Placid ([[1932 Winter Olympics|1932]] and [[1980 Winter Olympics|1980]]), and Cortina d'Ampezzo ([[1956 Winter Olympics|1956]] and [[2026 Winter Olympics|2026]]).