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economic effects of hosting the olympics
economics of an olympic games
social and economic impacts of olympics
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Billions of dollars and hours are spent, every four years, preparing for the Olympics. In the mid 1990’s, the schedule was modified to have alternating summer and winter games on a biyearly cycle. Countries fight for the honor of hosting these worldwide games. At first glance, it may seem exciting and glamorous to be chosen to host the games. The Olympics can offer the opportunity for the world to see the host city and surrounding area at its best, potentially generating future tourism and fame. A short term economic boom may result due to the creation of jobs, added tourist revenue, and other growth. Hosting the Olympics generates excitement and enthusiasm in cities and countries that may need a boost. However, when one takes a look further …show more content…
For most, the Olympics are an exciting time to show pride and patriotism, however, for the people residing in the host city, the Olympics can also be a horrifying and life-changing event. The host cities are concerned with creating enough space to build the infrastructures needed for the games. Because most cities are already fully developed, the only way to accomplish this is by shutting down businesses and evicting citizens from their homes, generally leaving them with minimal compensation to start over. According to the Center on Housing Rights and Evictions, “1.5 million residents of Beijing will have been displaced by the time the Olympics start there” (“Residents Refused to Make Way for Beijing Olympics”). Imagine the number of families forced from their homes as the landscape of their cities are changed …show more content…
When Beijing was designing their Olympic village, they attempted to create plans for the future of the structures. However, the eight-year-old Beach Volleyball Stadium sits with rotting walls and vandalism and the rowing canals lie dry and unused (Pygas). This is the case for the majority of the past Olympic venues. If this continues at the same rate, our world will be taken over by forgotten villages. Presently, the International Olympic Committee (IOC) does not dictate environmental standards for host cities, although in recent years many venues have made efforts to “go green” through the use of environmentally sound practices. This problem has brought about a debate concerning the creation of a permanent home for the Olympic games. While this idea would curb the long term environmental impact of repeatedly building new infrastructure, it seems that cities continue to vie for the opportunity to be a future Olympic venue. Not only must cities and countries consider the short and long-term impacts to their environment, it is most crucial that they realize the sometimes devastating economic impact that can
Close, Paul, David Askew, and Xin Xu. The Beijing Olympics the Political Economy of a Sporting Mega-event.. Hoboken: Taylor & Francis, 2006.. 34-35
Since 776 BCE, the Olympics have been a way for people of different cultures to come together and compete in friendly competition. In 1892 the first modern Olympics were held in Athens, although it had been over a thousand years since the last game it still had brought together an assortment of different religions and ethnic groups together. Many factors shaping the Olympic Games reflect the changes that have taken place in our world since the last game in 393 CE in Greece such changes include woman’s suffrage, global economy, world wars, and proving competency.
In the summer of 1996, Atlanta Georgia played host to the 23rd modern Olympic games. It was easily the greatest thing to happen to Atlanta in the 90's and there were many benefits brought its way as a result. Of all these benefits, the most significant ones were (1) the legacy of all the facilities built for the event, (2) the revitalization of the downtown area, (3) the exposure it gave to the city and (4) the economic benefits it gained as a result of all this.
We shall start with the positive externality. Hosting the Olympics in Boston would bring benefit to the construction crews in Boston. The Olympics is an international event that attracts immense amount of visitors. In 20012, the London Olympics has attracted 680,000 over sea visitors1. Since these visitors are from oversea, they will require temporary residence for their stay in Boston. Thus leading to an increase in need of Hotels and Restaurants. Apart from the stay, setting up temporary
ABSTRACT: The purity of the Olympics has been smeared by scandal, corruption, boycotts, political disputes and even acts of terrorism. Sadly, politics have taken control of the Olympics and turned it into a political and money-making extravaganza. Olympic boycotts became a way for countries to protest each other. Hitler tried to use the Games to prove his belief of racial superiority. Wars interfered with the Olympics. Bloodshed even covered the Olympics, in the 1972 Munich Games where terrorists killed eleven Israeli Olympic members. Unfortunately, throughout Olympic history, politics have overshadowed the true focus of the Games. They were "intended to unite the countries of the world through friendly competition" not segregate them through politics (Siggers 1).
In the case of London 2012 Olympic Games, it has been estimate that the impact of the Games will contribute to UK gross domestic profit (GDP) around £16.5 billion (2012 prices) with 70% of it is generated throughout the Games and the rest 30 % occur as part of its legacy.
In conclusion, the modern Olympic Games have continued through many trying times and are able to connect the world on a level that can only be reached through the unity of the athletic events without the separation of race, color, gender, or political views. The ancient Games religiously based and modest, gradually growing larger and decreasing and value. The revival of the Olympic Games abandoned the religious aspect but increased importance and value while uniting the world. The Olympic Games are an outlet for all the countries of the world to take place in friendly competition and be a part of a bigger world while still demonstrating patriotism to their own country without considering their political views or crisis. As the world grows and evolves the Olympics will always remain an important aspect of the world we live in.
With over two hundred countries participating, the Olympic Games is easily considered as one of the largest multisport event known to history. The Olympics are held at a different country, and even more rarely at the same city. For a country to be chosen to host the Olympics, the country’s National Olympic Committee (the country’s representatives for the Olympics) nominates a city (from the country they represent) that they think has potential in hosting the Olympics nine years prior to when they wish to host the Olympics. It is a two year process that consists of: Application Phase, Candidate Phase and the Election of the Host City. The country that wins the election is given seven years to prepare for the Olympics. (International Olympic Committee, n.d., p. xx-xx) The hosting country expends billions of dollars, usually money they don’t have, preparing for the Olympics. Then the question is raised 'why would a country go through so much trouble and spend an outrageous amount of money to host this event?' Throughout this discussion paper it will address all the pros and cons for a country to host the Olympics. It will also see if a smaller sports event can produce the same benefits the Olympic offers with less cost and risk.
The following essay provides discussions of the scope and objectives of the London Olympic Games 2012, and identifies event major stakeholders. Work break-down structure, McKinsey 7S, PESTLE Model and other relevant planning techniques will be introduced to demonstrate project requirements such as infrastructures, financial, man-power, technologies, resources, risks management, operations, procedures and more. This essay will also point out the obstacles faced by the project manager during the preparations of the events, and provide solutions adopted that influenced project outcomes.
Keeping up with hosting the Olympic Games gets harder when the prices start to rise. Holding the Olympics can get extremely expensive which is not necessary for a 17 day event every 4 years. Also, the poorer countries who could use the money spent on the Winter and Summer Games to improve their image. Countries could spend the money spent on more important things like famine and disease. There are many reasons why there should be permanent sites for the Olympic games.
One may disagree that hosting Olympics is not worthwhile as it requires a city or a country to bring out an enormous sum of money for the preparation and planning of hosting the Olympics. Zimbalist (2012, pp. 116) says that the summer Games roughly generates a total of $5-$6 billion and almost half of it belongs to the International Olympic Committee. On the other hand, the cost of the games has increased roughly
Firstly, being the host of a major sporting event such as the Olympics could actually benefit the hosting countries’ economic and cultural benefits of the Olympics. The Olympics have a very wide reach in this modern day with. This is a plus especially with the existence of today’s social media and the Internet. In the economic side, it could actually be a very powerful marketing and publishing tool for the host country. With all the present technology that is available nowadays, it actually is a good way to promote a certain country to the world. This eventually increase the economic level of the country that is hosting it, as they will receive visitors from all over the world and they will eventually spend their money to the host countries, thus improving their economics. Winbey (2014) states that the 1984 Los Angeles Olympics are somet...
Global events benefit regional, tourism and community development. Take for instance the Commonwealth Games and the Olympics. They both are events held globally that increase visitor’s expenditure and length of stay while improving destination awareness and increasing civic pride. Janecko, Mules and Ritchie (2002) explain events in small regional destinations are obviously beneficial and often play an important role in tourism development and thereby in regional development however, differ due to size and scale of the event. Global events create employment and increase labour supply, expenditures and even the standard of living. ‘As local economics have adapted to changing to global dynamics, the hosting of international events has become more commonplace and can play a significant role in local development, acting as a catalysts for jo...
The public most concerned about who is the next host city every four years. Actually, who have the power to make the decision? The IOC Executive Board will first determine the procedure, and then will pass to the Session and hold the election. In general, the election wil...
Introduction Today, the Olympic Games are the world's largest pageant of athletic skill and competitive spirit. They are also displays of nationalism, commerce and politics. Well-known throughout the world the games have been used to promote understanding and friendship among nations, but have also been a hotbed of political disputes and boycotts. The Olympic games started thousands of years ago and lasted over a millennium.. The symbolic power of the Games lived on after their demise, and came to life again as the modern Olympic Games being revived in the last century. Both the modern and Ancient Olympics have close similarities in there purpose and in there problems.