The PyeongChang Winter Games are believed to have raised the nation’s GDP growth by zero-point-two percentage points in the first quarter.

According to the presidential office on Friday, the Bank of Korea and the Finance Ministry estimate that the Olympics generated an increase of one-point-four trillion won in spending, raising gross domestic product growth by a fifth of a percentage point.

The financial authorities broke down the spending to 500 billion won for tourism and visits to Olympic stadiums and 900 billion won related to the cost of hosting the Winter Games.

The top office said that for the whole of this year, the Olympics are expected to boost GDP by zero-point-05 to zero-point-06 percentage points.

The office added that thanks to higher awareness of Pyeongchang and the Gangwon Province region, tourism in these areas will likely increase especially centered on winter sports.

It said that South Korea also received wide support from the international community for its leading role in Korean Peninsula issues, as the country showed the potential for inter-Korean dialogue and improving cross-border relations during the Olympics.