Olympic Games : The Leading International Sporting Event Competitions

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Olympic Games are the leading international sporting event competitions in which thousands of athletes from around the world participate in a variety of competitions. It represents an extraordinary sporting, social, cultural and environment legacy for the host city, the region and the country. Every city regards hosting the games as an honor. In July of 2001, after the President of International Olympic Committee Juan Antonio Samaranch announcing that Beijing, the capital city of China, won the host of the 28th summer Olympic Games, the whole city lost into revelry and celebrated for the precious opportunity. China has been becoming the first developing country to hold Olympics in the history. And at that time, according to the data shown…show more content…
This report will prove that 2008 Beijing Olympic Games as potential source of economic regeneration will also drive the development of Chinese society’s moderation. From the Beijing Olympic Committee and Official Report of the Beijing 2008 Olympics Games: Volume III, I found the fiscal budget which is Table 1, which shows the expenditure and revenue clearly. In terms of cost, there are two major parts that are capital investment and operational cost. Physical facility is the most important part which accounts for 6.28% of the total cost. From the Volume III Chapter II Venue, “There will 37 stadiums and venues host Olympic events, in which 19 new built and 13 refurbished”. Moreover, China will spend $43M to build Olympic and Journalist’s Village and anticipate giving the athletes, coaches, media and all other related workers the best atmosphere. Besides, total around of 30M will used for improving the condition of transportation, enhancing the security protection and equipping Beijing as a “digital” city. The total cost will be as much as 1609M. In terms of revenue, there will be three major parts which are TV rights, business sponsors and others. As “”, there is no exception that sales of TV rights will bring China 709M benefits will account for almost half of the total benefits.
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