VICTORIA — The 2010 Winter Olympic Games have already generated as much as $1 billion for the B.C. and Canadian economies, says an independent report prepared for the two governments.

The report, by PricewaterhouseCoopers, looked at effects the Games have had from 2003 (when Vancouver officially won the bid) through 2008, including such factors as job creation, business development and tourism.

It found that over the six-year period — a stretch that does not include the brunt of the economic recession — the Games produced up to 20,780 jobs in B.C., and spurred the creation of about 800 new businesses.

It says the Games generated between $684 million and $884 million in GDP for B.C., as well as an additional $170 million in other provinces across Canada.

“This is a snapshot of what has actually happened already, from 2003 to 2008, and it shows concrete evidence [the Games] have given us a boost,” said Minister of State for the Olympics Mary McNeil.

“These reports show we are on track to deliver,” McNeil said.

But the report does not analyse the benefit of the Games compared to the estimated $1.6 billion spent on venue construction and other Games-related costs over the same time, making it difficult to determine the true overall situation.

PricewaterhouseCoopers associate partner Ed Mansfield emphasized the report was intended only to provide a detailed measure of economic and other impacts, not to offer any judgments.

Mansfield said it was too early to draw definitive conclusions about the overall Games, but said Thursday’s report does show the province is essentially on track with early projections done by Intervistas Consulting, which estimated the Games would ultimately generate between $2 billion and $4.2 billion in gross domestic product.

“With regards to the actual operations of the Games, the construction of the venues, I think the inference is things are more or less tracking what had been projected,” Mansfield said.

The report says spending on the Games during the six years leading up to 2008 includes $525 million by the federal and provincial governments, $600 million from Richmond, Vancouver, Whistler and the University of British Columbia, and $500 million from Vanoc.

The report does not include any costs or economic impacts from the Sea to Sky Highway, the Vancouver Convention Centre and the Canada Line, projects it says are not directly related to the Games.

It notes mostly positive impacts through the six-year period, though it says the benefits generated through tourism are significantly less than what was projected in 2002.

“Hosting of the 2010 Winter Games does not appear to have directly drawn significant numbers of visitors into B.C. and Canada between 2003 and 2008,” the report said.

In 2002, Intervistas Consulting estimated additional tourism between 2003 and 2008 would generate between $30 million and $500 million.

Thursday’s report found the actual impact to be closer to $5 million.

“The report actually shows the fact that the government has missed a prime opportunity to market British Columbia pre-Olympics,” NDP critic Jenny Kwan said.

McNeil said the government has focused its efforts and spending in the period after 2008, because it believes that will yield the best value for the dollar.

“Tourism really is just before, during and after the Games,” she said.

“We have a captive audience of around three billion people who are going to be watching these Games. They are going to be seeing how incredible B.C. is. It’s a marketing opportunity par excellence.”

But Kwan said it was a lost opportunity.

“It’s ridiculous to say we should only focus on tourism opportunities after the Games,” she said.

“What is wrong with the potential of focusing on tourism both before the Games and after the Games?” she asked. “That way we can have the cake and eat it too.”

Mansfield said PwC will continue tracking numerous indicators, including future tourism numbers and whether any organizations lose any business because of the Games.

“Through 2008, it was still early days so it’s hard to really identify something that you can say, well this was a negative impact,” he said.

“But going forward, we certainly have our radar out for some things we’ve been following and tracking.

“These are just the first reports in a long series. ... I think the really interesting things will be what happens from here on out.”

jfowlie@vancouversun.com