ECONOMY

Olympics will add 3 trillion drs to the economy

Hosting the 2004 Athens Olympics will produce a net benefit of 3 trillion drachmas (8.8 billion euros) for the Greek economy, spread over the decade to 2010, according to forecasts contained in a recent study by the government-funded Center for Economic Planning and Research (KEPE). The study, to be published in the coming days, claims that the country’s gross domestic product (GDP) has increased or will increase by an extra 0.2 percent each year from 2000 to 2003, and will grow by an extra 0.4 percent from 2004 to 2010 due to the impact of hosting the Olympics. The Olympics will also create an extra 65,000 jobs in 2002-2004, the study says. Great role for tourism Compiled before last week’s terrorist attacks on the United States, the study claims that tourism will play a great role in expanding the economy and that the flow of additional visitors to Greece will continue well after the Olympics. The main beneficiary will be Athens, which now serves more as a transit point to other destinations within Greece. The study considers the Games to be a unique opportunity for the country to upgrade its technological infrastructure and thus ensure continued high growth. The greatest impact is seen in the communications and transport sectors. The packaging for the other milk products has been revamped to make it more appealing. All milk products are now stamped with the Olympics 2004 logo, underlining Delta’s status as a sponsor for the event.