Economic Benefits Of Hostinging The Olympic Games

It is evident that hosting the Olympics games is no walk in the park. The countries trusted with this task have to spend billions to make the games a reality. Some people believe that the countries, even after spending billions of dollars benefit from the games, while others believe that the money can be spent elsewhere more efficiently. To reach a conclusion, one must study all of the different impacts in all of the different sectors the games have.

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 types of transport, increase potentially in tourism and business activity. Some of the negative aspects would be potential costs and burdens to the community and an increase in costs and taxes. Many people are going back and forth arguing over this topic. The United States should bid to host the Olympic Games.

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.

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 competition … they no longer … justify the time and trouble,” Dave Anderson, Pulitzer Prize winner for his sports column, wrote in the New York Times in 1984. The Olympic spirit has routinely been used as an outlet for political agendas. With political and Olympic ambitions intersected, the great international sports festivity negatively affects all nations involved.

The “Miracle on Ice,” where the United States defeated the Soviet Union in the 1980 Winter Olympics at Lake Placid, New York will forever be known as one of the greatest moments in American sports history. This game was about more than just sports though, it signified American strength, even when faced the greatest adversities. The United States was suffering through Vietnam, Watergate, and the wrenching upheavals of the 1960s. Many believe this game was even the beginning of the end for the Cold War. The Soviet Union had won the gold medal in six of the seven previous Winter Olympic Games, and were the favorites to win once more in Lake Placid. The team consisted primarily of professional players with significant experience

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 is an international competition held with competitors coming from all over the world to represent their respective countries and win medals in their names. Athletes from all over the world come in to compete and demonstrate their prowess in a multitude of winter based sports such as ice skating, snowboarding, ice hockey and much more. The Olympics are held in giant stadiums which are generally made just for the sake of the Olympics. Canada is already in a financial crisis can it really afford to host the Olympics, since it will need to spend money on things such as building a new stadium, hiring security for the athletes, global advertisement and bidding against other countries to see which country it is held in. Because the Olympics is such a

"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

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 spectators keeps on increasing every four years as the event gets more popular. As this is an international event the cost of hosting it is huge. The total output of the 1976 Montreal Games was $1.48 billion whilst the 2012 London Games was a total of $14.6 billion. Stadiums are built for different disciplines, national representatives are invited to perform in the opening and closing ceremony, as a result the stadiums need a high level of security. Where the hosting country receives the money from, whom it will benefit and what it does to the country, will be the three main points I will be covering in this essay.

Mihalik, B. J. (2000). Host population perceptions of the 1996 Atlanta Olympics: Attendance, support, benefits and liabilities. In J. Allen, R. Harris, L.

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

Economic Impact To see the impact of the 2008 Games on the Chinese economy, we must first look at how much money was spent and what it was spent on. While $40 billion is the average number given when saying how much the 2008 Games cost, only a little more than $6 billion went to sports related costs, (Gaines, 2015) including $500 million going to building the Bird’s Nest, the Olympic track and field venue. The rest went to a new airport terminal, a light rail, roads and other preparations such as security and the environmental clean up (“The cost of the Beijing Olympics”). Almost every city that hosts the Olympics promises to use the new stadiums that are built well beyond when the Games end, but almost none actually do. Beijing is no different.

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

The Olympics have come up with a problem and need a solution fast. The problem is whether the Olympics should have a permanent home or even multiple homes. Or should they stay the same where any country can host the Olympics? Before answering the question think of where and why the Olympics started. Ancient Greece is the birthplace of Olympics about 800 BC and they were later revived in the late 19th century. The first modern Olympics were in 1896 in Athen with 280 participants from 13 nations in 43 events. “The purpose of the modern Olympic Games is to promote peace and unity within the international community through the medium of sports”(reference.com). This quote is exactly right, permanent home deprives countries the chance to show national pride. There are other bonuses to not having permanent homes. It can help a failing country's economy become better and allows them to make history beyond sports. However permanent homes reduce cost of new facilities and it will reduce facilities being abandoned after the games.But in the end hosting the Olympics in different countries allows them to show pride, make history and boost economies, even with the expensive cost.

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