Olympic Games Has Brought A Great Deal Of Economic, Cultural, Environmental, And Political Change

1734 Words Dec 13th, 2016 7 Pages

It has been witnessed that Olympic games has brought a great deal of economic, social, cultural, environmental and political changes to the host country. From the perspective of economics, Olympic games can overall positively contribute the host country in its economic growth, urban expandation, employment opportunities, households’ welfare improvement, etc. For example, Korea and Japan have comparatively experienced dramatic GDP growth after Olympics in Seoul in 1988 and Tokyo in 1964 with rates of 16.8% and 15.8%, respectively. In addition, developed countries like Spain that host Olympic games in Barcelona in 1992 gained much domestic consumption with 11.1% growth rate, even thought the average employment growth in Spain kept flat, which is mostly due to the economic recession in Europe at that time that has significantly offset the economic benefits from Barcelona having Olympic games (Vegara, 1992). In theory, the net changes (positive changes minus negative changes) from new economics activities in related to an event is defined as “Economic Impact” (Foster, Greyser & Walsh, 2006). In 2001, China was renowned for holding 2008 Olympic games in Beijing. This event has economically brought a considerable of positive impacts in vary aspects such as domestic demand improvement, employment rise, and so forth. However, 2008 Olympic games in Beijing also contains negative economic impact, such as the expenses on bidding for hosting Olympic games (Shipway &…
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