Vancouver cab drivers are not only seeing no benefit from the Olympics, the restrictions around the big event are costing them business, one industry spokesman says. (CBC)

The Olympics could be a bust for Vancouver's taxi drivers because cabs are not allowed to access Olympic traffic lanes throughout the city, according to one industry spokesman.

Receipts were down between 40- and 50 per cent in the past two months, said Amrik Mahil, president of one of the city's biggest taxi companies, Black Top and Checker Cabs Ltd.

Mahil blamed the combination of a slow economy and the slowly encroaching Olympic transportation plan.

The designated Olympic lanes on the right-hand side of some major routes will be in place until Mar. 1, 24 hours a day, seven days a week.

Only VANOC-accredited vehicles, TransLink buses and emergency vehicles will be able to use the lanes. Violators will be subject to a $100 fine, plus an automatic tow for anyone who parks in a lane.

"We can't stop anywhere if people flag us. We can't pick them up. We are ticketed if we do stop, so really, our mobility has been hampered."

Mahil said many drivers were struggling to make ends meet.

"The business is the lowest it's ever been," he said

"We're expecting better things with the Olympics. But we haven't seen the people coming in. Business is slow. I can't stress how slow it is."

A spokesman for the city of Vancouver disagreed with the bleak situation described by Mahil and said common sense would prevail for cabbies while the Games are on.

"A lot of what I'm hearing simply isn't accurate," said assistant city transportation engineer Jerry Dobrovolny.

"If the cab is doing a quick drop-off in the Olympic lane, that's not a problem. If it's doing a quick pick-up that would likely not be a problem."

Only longer delays merit a ticket, Dobrovolny said.

"Our bylaw officers and police are thoughtful in how they apply the rules and if the taxi is in and out quickly and it doesn't cause a delay to the Olympic system or the transit system then there's really no problem."