Cost and Benefit of Hosting the Olympic Game

Throughout the history of the Olympic games, there has been many changes on how the Olympic Games has come to be interpreted and how they are generally viewed in our modern era. These views range from, Nationalism fueled by the Olympic Games, Women trying to create equality through the Olympic Games, Economic supremacy shown by the Olympic games and the responsibilities held by countries and the self-preservation of a country when presenting the Olympic games. Each view states an interpretation of the Olympic games through the years of 1892-2002 showing a distinct view on the Olympic games depending on the times they were hosted at such as when the Olympic Games were hosted when women weren’t equal to men or who the Games were hosted

There is an argument as to whether or not the United States should bid to host the Olympic Games. There are many positive and negative reasons as to help decide whether it will be or not be a good idea. Some positive reasons would be improvements in all

The Olympics: Is it worth hosting? Every four years a different country hosts the Olympics. Every two years its either the Winter or Summer Olympics. It is two thousand sixteen and in August, everybody eyes are going to be glued to their televisions when Rio host the two thousand sixteen Summer Olympics in Brazil. Many cities around the world put bids in advance to hold the Olympics. The Olympics are a big deal and you have to have the resources to host it. You need to have facilities for the sports, transportation, Olympics villages for the athletes to stay, a stadium for the opening and closing ceremonies, and most of all money. Cities tend to lose money when hosting the Olympics. Sometimes the facilities they use get abandon and are never used again. They are many reasons for a city to host the Olympics, but there are three reasons to not. Reasons for not hosting it because it is expensive, there no guarantee of profits or increase tourism in the host city, and to many buildings being left abandoned

As a sporting mega-event, the Olympic Games have numerous social impacts on the people, not only on those from the host country, but on individuals all over the globe.

"The Olympics are a wonderful metaphor for world cooperation, the kind of international competition that's wholesome and healthy, an interplay between countries that represents the best in all of us,” said John Williams, the composer for theme music for the Olympics (8). The Olympic Games are international sports festivals that began in ancient Greece. The first ancient Olympics can be traced back to 776 BC when people held this religious festival to honour Zeus, the father of all the Greek gods and goddesses. The participants were male citizens from Greece, and these athletes participated in only one event — foot race. Unfortunately, this ancient Olympics did not last forever. The first olympic in 776 BC in Olympia was an significant event

London is currently hosting the Olympics this year and in preparation back in 2009 the event was predicted to “provide economic gold at a time of economic need,” however hosting the Olympics is an extremely costly business with the upgrades, new sports facilities, and security that it will cost much, much more than expected.

The Olympic games originated in Athens in 776 B.C. The more popular modern day Olympic games began nearly 2300 years later in 1896. The games no longer represented a religious festival, but a sports competition instead. The games can be studied via multiple aspects such as political, social, and economic, but this paper will concentrate on the economic aspect of the games and more specifically, the macroeconomic impacts the games possess.

Are major sporting events like the Olympic Games a waste of money? Are the Olympic Games a waste of money? The Olympic Games are an international event where athletes from every country come together to compete. Many fans and spectators attend this event to cheer for their country. The number of

The Olympic Games are recognized globally by billions of people. This event is the biggest sporting event not only because it comes once every four years, but also because the world’s best athletes come together to compete for world fame and glory. Hosting the games seems like an honor for

The Olympic Games should not have a permanent home because it could lead to many conflicts around the world and within countries. One good example of this is It would deprive countries the chance to show national pride. Whitt Flora said "The olympics represent the ultimate opportunity to showcase a national identity on the global stage." on page 3. If the Olympics have a permanent home then the same country shows there pride every 4 years. In the 2012 Olympics in Great Britain many polls showed that a vast majority of men showed a sense of national pride because Great Britain was hosting the games. If there is permanent host for the Olympics that sense of national pride might not be as big. Another good example that proves this is Hosting

Countries utilize both the vast market and the attractiveness to increase ticket sales, sales in merchandise and tourism in their country. For the 2012 Olympic in London, it was estimated that 471,000 people visited from overseas primarily for the Olympic/Paralympics. ("Visits to the UK for the London 2012 Olympic Games and Paralympics - ONS", 2013, p. xx-xx) Not only does the country benefit from the ticket sales, but other businesses in the city (Hotels, restaurants, attractions, etc.) will flourish in business due to all the international trades that are occurring. The Olympic also provide jobs since the preparation, and the execution of the event requires a large staff as well as people with different skills. (Performers, construction workers, marketers, designers, etc.) Thanks to the Olympics, the United Kingdom saw a boost of £9.9 Billion ($17,805,486,600 CAD) in trades and investments. ("London 2012 Olympics 'have boosted UK economy by £9.9bn'", 2013) Hosting the Olympics can also make a psychological impact. With the great success Japan had in hosting the 1964 Olympics, (the first Asia Olympics as well as a method of being reaccepted by the rest of the world after World War Two), news that Japan will be hosting the Olympics 2020 significantly brought their citizen’s morale up after being hit with

Social Cultural impact Tourism Olympic Games, as a global event, any Olympic Games will have a different impact on the environment, society, culture and economy of the host city and country. Especially since the 1980s, with the scale continues to expand, the impact of the Games on the host city and country of more concern. Another important issue will be social communities. For Olympic Games host city, it will has lots of change, like environment, social communities, local economic, etc.… But the host city still got something attractions and cultural staff. For example, Canada Whistler Winter Olympic Games, First, because of economic development, job opportunities increase, leading to increased consumer demand. Second, the Olympic Games will have a great demand for

Ever since its inception in 1896, the Modern Olympics has hosted an invisible sport: politics. The Olympics calls for “a halt to all conflicts … [and to] strive towards a more peaceful world,” but politics soon spoiled its biennial message. “As the Olympics continue to dissolve into … a political

The Economic Impact of the Olympic Games Missing Graphs With the Olympic games being held in Sydney this year, I wondered if perhaps the performance of the economy was being affected in part by the fiscal stimulus provided by Olympic construction in Sydney and other parts of the country. Australia’s economy has been performing well recently, suggesting that there might be some effect. Over the last five years, growth in Australia’s gross domestic product has averaged 4.35%, almost a full point above it’s thirty year annual average of 3.5%, and the unemployment rate is near a ten year low. According to one estimate, the Olympics will tack on an additional six and a half billion dollars, about 1.6% of the GDP, to Australia’s GDP over the

Higham (1999) discusses that there are numerous problems, which will be evaluated with hosting an Olympic games such as, development issues, local resident issues, short-term affects, and security issues. In terms of development issues, there is a significant cost dealing with large scale sporting events, and economic benefits are generally received more by big time business interests not the host community. So the host community doesn’t benefit as much as they potentially could by hosting the