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Economic Impacts of Beijing Olympic Essay

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Economic Impacts of Beijing Olympic
Bird Nest and Water Cube:
We can all recall the opening of Beijing Olympic in Bird Nest where the gorgeous fireworks and fantastic shows were shown. As well as the Water Cube, an exquisite designed water stadium, which all the water competitions were hosted. After the 2008 Beijing Olympic, those multibillions infrastructures were put into use only a few times and for most of the time, they were empty. Some people believe the construction of those infrastructures was a one-time deal and will never meet the return. Some people believe that there is a bigger picture in building the Bird Nest and Water Cube and the return for the Beijing Olympic is a lot more time what China put in for the 2008 Olympic
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Positive Economic Impacts: After the Beijing Olympic game in 2008, many people raise the questions of whether spending $41 billion in hosting the game bring benefits to China’s economic or not. According to the nature of economic, the economic impacts of the Olympic game are hard to measure and has became a major debating topic for many economic scholars. However, one thing that we are sure off is that the Olympic game did tie on to many economic measures such as, employment rate, economic growth rate, inflation rate and tourism growth rate. Also, as we know from the economic standpoint, fiscal and monetary policies are inevitable measures in hosting mega event like the Beijing Olympic game.
A pre economic study by two Chinese economists Zhang Yaxiong and Zhao Kun addressed that the Olympic game has brought many Olympic related investments and consumptions to Beijing, surrounding cities and the entire country. According to their models, the estimated growth rate of Beijing prior the Olympic game from 2002 to 2007 has increased 2.02%, the surrounding areas growth rate raise 0.23% and overall an 0.09% increase for the entire country. We can tell from these numbers that the impacts of pre Beijing Olympic game are not significant in the measure of positive impacts for the China’s economic over the duration of 5 years.
Lets take a look at the economic impact of Beijing Olympic game after the event. According to the article of “Olympics Help Fuel Beijing’s economics
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