Cost and Benefit of Hosting the Olympic Game

1718 WordsMar 4, 20137 Pages
In 2012,Miguel Cardenal, the Spain 's secretary of State of Sport ,stated that Madrid will continue to bid for 2020 Olympic Games despite the European Debt Crisis.In fact, Spain has lost three opportunities for hosting the Olympics and expects to boost their floundering economy as well as providing more employment position through conducting the Olympics.The value of hosting Olympics has been extolled loudly by the candidate host country. Does holding the Olympic Games really bring benefits for the host country? It may be stated that hosting Olympics may increase the expenditure of host country and jeopardize local people 's security.However,the majority of the previous host countries assert that the benefits of conducting Olympic Games…show more content…
This is especially true when people consider the fact that conducting Olympic Games have an economy influence on the rise of other respects,such as the price of accommodation which may lead to stimulate the travel economy of host country.When a country is awarded the Olympic Games,the government needs to take issue of the accommodation into consideration.To solve the surge in the amount of tourists, increasingly accommodations are set up compulsively .However,there is still a remainder of demand contributing to the price of accommodation rise. Tessa Jowell(2012), Member of Parliament of Unite kingdom,pointed out that the price of accommodation in London had a 315% rise on average because of London Olympics. Obviously,it could be an catalyzer for the traveling economy of host country . Nevertheless,it may be argued that not all of hosting country economy always be boosted by Olympics such as Greece.As a matter of fact,the economy of Greece is not the main reason for Greece debt crisis.Greek Olympic officials(2010) stated,"the scale of the country 's dire financial problems – and its staggering national
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