Economic Effects Of Olympic Games

3. Literature Review

There is a large amount of relevant material available regarding the short term economic impacts of hosting the Olympic Games. There is however very little literature written on the post-games era and the economic development it brings to a nation. The economic impact of staging an Olympic Games can be hard to measure accurately.

A number of studies exist that illustrate the economic impact of hosting the Olympic Games, often predicting large economic benefits. Humphreys and Plummer (1995), state that the short term economic impact to Atlanta hosting the 1996 was an estimated $5.1 billion.

A study by Andersen (1999, p. 1) stated that from 1994, when the Sydney 2000 Olympic Games were announced, the Games generated a total of $6.5 billion in additional economic activity in Australia with $5.1 billion of this in New South Wales.

Masterman, G. (2009, p. 104) believes that justifying the investments made when staging a mega event is critical to the post-games legacy of the host nation and local area. Host cities and governments may not be looking to make money from just the three week long Olympics alone, but instead the wider benefits that the huge investment will brings to the local area and nation in the form of new business prospects, tourism as well higher awareness of sports and facilities available.

There are various academics that define effective project management. Berkun (2005, p. 44) states that it’s a project manager’s role to develop a company’s requirements and turn them into appropriate specifications that will help achieve the desired output. A good business perspective looks at the potential for revenue and if there are any unmet needs or desires that customers have. If these perspectives are m...

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...ablish profits and losses in certain aspects of the work. Secondary data would also be used alongside the quantitative data in order to gain an understanding as to how successful it is portrayed that different Olympic Games have been.

5. Ethical Issues

The topic of the Olympic Games should not have too many ethical obstacles to overcome. It is important that all findings are kept confidential in order to protect the companies. All information gathered about the companies must be secured and not shared unless given permission otherwise, as stated on the Social Research Association website. Gaining consent to do the interview with the organisation is essential when using the findings, to overcome this; a consent form should be filled out. The information gathered can be withdrawn at any time, it is essential to allow for this and have other research available to use.