Yes, the city of Calgary and its surrounding areas, specially the snow-covered mountains, offer an excellent shooting location for the Game of Thrones television series, which is set in a time and place resembling medieval times. The economic impact on Calgary would be very positive as the number of tourism bookings would increase and bring more business to the area.
Yes, Calgary a good place to shoot Game of Thrones scenes. Canadian filming is less expensive than in the United States or in Ireland, where the main outdoor scenes are shot, so for cost-effectiveness Calgary is a good place. It is in my opinion that when cost-cutting measures are taken for indoor scenes or scenes that need production studios, the series can afford more specific, beautiful outdoor spaces.
Calgary is a good location for Game of Thrones because of its rugged landscape that lends itself to an ancient environment. The prior seasons have filmed in Ireland, Crotia, Iceland and Spain. The variety of locations gives that international flair as a backdrop and contributes to the story line and characters.
Outside of the city there are plenty of wilderness areas surrounding it. Perfect for a medieval setting. Even if they get the city in the shots I'm sure it can be edited out some way. Not only that, the city probably offers plenty of comforts and its close by so the cast and crew don't have to o too far to reach their accommodations.