The sponsor companies have been harnessing much more revenue from the Olympics than their sponsorship money would have suggested. The positive fallout of the Games is likely to accelerate as the Olympic sponsors enter into new business arrangements with their international counterparts. For the second biggest Australian carrier Ansett-Air New Zealand, which invested 50 million Australian dollars in the Olympics, the addition to the bottom line is expected to be more than one billion dollars.

The Australian government is aware of the benefits that could be extracted out of the Olympics and it is coordinating with economists and business leaders to maximize profits. Canberra has also launched a campaign to attract billions of dollars into the Australian economy in the post-Olympic scenario. Besides Ansett-Air New Zealand, insurance giant AMP and Westpac Bank are also gloating over the response to their participation in the Olympic sponsorship programme. Both these Australian companies have attracted huge business in the wake of the Sydney Games.

It is not just that a few sponsoring businesses have gained in the short term, much more is expected to come in industries like tourism and event hosting. Thanks to worldwide round-the-clock television coverage, Australia has been in the world focus. Another wave of tourists from the United States and Europe is likely to come to the sun-drenched beaches and exotic outback of Australia, which has been projected as an advanced, friendly and beautiful country.

Australia's southern hemisphere weather also suits North Americans and European tourists' needs and itineraries as summer is about to break here while North America and Europe braces for another bout of severe winter.Of late, the value of the Australian dollar has also nose-dived which makes it even better for North Americans as the greenback is buying much more in Australia than it would in the US. No wonder, American visitors to Sydney were conspicuous by their shopping sprees.

(IANS)