Recent Olympic Games History

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Understanding the Legacy:

“Legacy” related to Olympics is something really important that is under discussion since the last 12 to 10 years for the reason that this terminology is supervising the apprehension of financial principles and the Olympic dream’s realities. Olympic Games held in Montreal 1976 have some negative financial results and these results bring the awareness of IOC to enhanced reassurance of positivity in the future after the Games. The importance of Legacy has become a highlight because it takes away the charm of the mega event of sports and the excessiveness of the international extravaganza, which invites some reasonable questions. As Preuss (2007), Cashman (2005) and Moragas (2003) point out “legacy” is a contested term in the mega event and Olympic literature. It is sometimes conflated with (much shorter term) ideas such as ‘impact’, when, in fact, it should be seen as counter to such temporary temporal (macro or micro-) economic fluctuations. There are some substantial projects which are dependent to the Games and it is individuality as to legacies of Olympic Games but there may some infrastructure projects that could not get completed on the given time frame. The happening of these Games can create enough energy to occur in the country’s and city’s infrastructure whether by means of building new facility centres for sports, different venues, parks or through the utilities’ network. There is a great impact of pressure on the planners who are responsible for the transformation of the Olympic cities because there are some deadlines which cannot be changed and there is very less margin of error and to bounce back. All of these things are partly depends upon the compliance of the Government and well as on a hu...

... middle of paper ..., London is going to provide and hoping to replicate the motivation provided by this event to a new sporting generation by giving them a supporting hand with coaching and investment.

- Commercial opportunities

Most of the time after the Olympic Games, the venues are used to raise the investment by arranging profitable redevelopment rather than maintaining it for sporting use. This has been mentioned by the oraganiser’s of London as that they would mostly like to follow the atmosphere of Sydney Games. Though, the legacy of Sydney Games is one of the most complicated to cope with. Sydney has produced one of the largest venue ever with the capacity of 1, 14,000. After the closing ceremony this capacity was reduced to 83,500. They have more proficient than many stadiums in terms of embodied energy. Post-Olympic levels of tourism have also been lower than predicted.

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