SYDNEY, Oct 9: Sydney business leaders were told today not to expect too big an economic spin-off ...... ul/s hosting of the 2000 Olympic Games, reports Reuter.

Presenting what it said was the first official report card on the economic impact of the recent Atlanta Games, the New South Wales (NSW) Chamber of Commerce said businesses should be realistic in their expectations.

The chamber was backed up by NSW state Premier Bob Carr, who told reporters: "It would be foolish to say the Olympic Games are an economic bonanza."

Citing figures from the Georgia State University Economic

Forecasting Centre, the cham-l>er said that the Olympics generated 4 billion US dollars for the Georgia economy.

That figure was below preGames estimate of around 5.1 billion dollars — and a toprange estimate by one Atlanta organiser of a 10 billion dollars contribution to the Georgian economy.

Although Georgia's economic growth this year, at around 5.0 per cent, would be well above the US national average, it would still leg the 5.1 per cent achieved in 1995.

Chamber chief executive Katie Lahey said that Atlanta's growth rate rose sharply in the run-up to the Games, but was now declining just as sharply.

Almost 100.000 jobs were Enerated during May and June it very few were long-term and

unemployment was forecast at 4.9 per cent next year, rising to 5.6 percent in 19518

Lahey cited the example of hotel occupancy — original forecasts for the Games predicted that only 35 per cent of visitors would stay with friends and relatives, but the final figure was closer to 70 per cent, she said.

One positive fact thrown up by the Atlanta research was that locals were able to buy tickets more easily than ex-Kted. A lot of Sydney residents r they will not be able to compete with tourists and corporate guests in the 2000 ticket rush.

Lahey said Sydney had to carry on monitoring the cost ■ind benefits for Atlanta to ensure that its own business could plan for the Games.