The hosting of major sporting events such as the Olympic Games and the World Cup are often characterized by vigorous competition among the bidding nations. Matheson (2004) compares this competition to that seen in athletes competing for participation slots in the games. The reasons behind the desire by nations to host hallmark events are many. They include the need to make a political statement as well as the potential for sharing the prestige and glory that comes with hosting such events (Matheson, 2004). However, according to Matheson (2004), these reasons do not even begin to compare with the promise of an economic windfall arising from hosting the events. Indeed, this is affirmed by Madden & Crowe (1998) and Levy & Berger (2013), who state that although the attractions for hosting the games are many, governments have increasingly begun to place more emphasis on the economic advantages as a rationale for hosting the games. According to Levy & Berger (2013), Los Angeles, Barcelona and Sydney are examples of economic beneficiaries. This paper will present an analysis of the economic benefits before, during, and after the hosting Sydney Olympic Games in 2000.
Economic Benefits before the Event
According to Preuss (2002), the preparatory period for hosting the Olympic Games is often characterized by a huge effort on the part of the host to adopt its infrastructure fabric to suit the needs of the games. This is in part one of the major reasons why the international Olympic Committee awards hosting of the games seven years in advance. According to Madden & Crowe (1998), the first phase, which depicts the period before the Olympic Games proper, is characterized by the construction of Olympic facilities. As a matter of...
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...d of two types of visitors; international visitors from abroad looking to catch a glimpse of the games, and domestic visitors travelling from state to state for the same purpose. According to Madden & Crowe (1998), international visitors represented the most expenditure, comprising of around 45% of the total Olympics direct expenditure. In regards to domestic visitors, NSW Treasury states that during the game year, at least 700, 000 interstate visitors were expected. Madden & Crowe (1998) estimate that the total amount they would spend in the event year was $650 million. Of this amount, a third was expected to be generated primarily by residents of Queensland, while the high cost of travel from Western Australia was expected to cater for the remainder. This figure is slightly under the $660.8 million game visitors and induced tourism during the event year generated.
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