South Korea has invested billions of dollars in the Winter Olympics, hoping to reap a long-term tourism bonanza that will benefit the host city, as well as the whole country. CGTN's Jack Barton travelled to PyeongChang to take a look at whether the Games will provide a boom, or bust.

South Korea's sparkling new 109 million dollar Winter Olympic stadium. It will be used for the opening and closing ceremonies of the Olympics and Paralympics. Then it will be demolished.

JACK BARTON PYEONGCHANG "Altogether South Korea has spent the equivalent of 13 billion dollars on the Winter Olympics and The stadium has in many ways become symbolic of a key question here, which is: in dollar terms, or Korean won, are the Games really worth it."

During the final stages of preparation I caught up with the Vice President of the PyeongChang Olympic Organizing Committee who told me a lot of the infrastructure will stay and pay its way.

KIM JAE-YOUL, EXECUTIVE VICE PRESIDENT PYEONGCHANG OLYMPIC ORGANIZING COMMITTEE "We hope to transform the PyeongChang area as a winter sports hub, not only for Korea but for the whole region of Asia. And I read some statistics from the Rio Games and about half of the world tuned into those Games. So it's a great opportunity to showcase what Korea has to offer to the world."

Right now business is certainly booming whether it's souvenir stores, restaurants or downtown hotels, which are only charging double the normal room rate if you're lucky. But a lot of bad press about the high prices has hit hotels just outside of town, which had also expected a rush of guests.

JULIE CHOI OWNER, KISMET COTTAGE "Now, with the reservation rate near the Olympic stadium there's not enough rooms, but reservations in other areas are lower than in the summer peak season."

Olympic tickets have still not sold out, leading to concerns that even the Games themselves might not be a big earner. But of course it's early days and after all the Olympics are fundamentally not about the money, but about bringing the world together through Sports. And given the entire Korean peninsula will be represented here, there could also be a big regional peace and stability dividend as well. Jack Barton, CGTN, PyeongChang.