Global Impact
The impact on the economy, social scene and infrastructure of the western region will be staggering and long lasting and that will ultimately be the real legacy of the 2010 Mayagüez Games. The Games closed with a projected gain of $5 million. This money is divided in $2 million that came from the government and will be returned to the General Fund and another $3 million that came from private funds that will be used to create the Mayaguez 2010 Foundation, an organism that will promote Puerto Rico as an important Sport Tourism Destination.
The operational budget for the games ascended to $43,321,851. Of this, the government of Puerto Rico contributed $37,918,200, that were divided in $8,918,200 thru the Department of Sports and Recreation and $29,000,000 by concept of the Law 12 that granted 5% of transit fines to the Games, and the Law 74, that created the Special Fund for the presentation of the Games. The Government also supplied $8,178,301 "in kind", that are non-monetary contributions given in services such as water and electricity that were not charged to COMAZ. Of those funds, there are presently in the "Banco Gubernamental de Fomento" an available balance of $4,967,000 with which will be paid debts up to $2,556,000. Over $2 million will be returned to the General Fund of the government.
It is the first time that a budget for a multi-national event held in Puerto Rico is made and over $2 million are returned to the general government. In other similar events such as Ponce 93 the government had to give more funds after the games were over. Furthermore income from the private sector was calculated at $4,553,372 and yet the money gained by the private sector ascended to $8,108,326. These funds came from sponsors, trademark licenses, and donations among other things. The games had an economic impact estimated in $1,500 millions of which $500 million were in construction projects. This produced 18,110 jobs, of which 8,400 were direct and 9,710 inderect jobs. Likewise, there was an improvement in the unemployment rate from 9.4% in 2007 to 6.6% in December 2009. An economic study by Jose Almeda says that visitors in the Porta del Sol region invested about $90,000 million in the days that the games lasted.
Read more about this topic: 2010 Central American And Caribbean Games
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