The Economic Impact Of The Olympic Games Essays

London was not the only option when it came to the 2012 summer Olympics. France was also in the running and was actually pretty close to getting the gig. London won the bidding race with 54-50 votes from the International Olympic Committee. The need of some economic spark for London’s economy may have been the reason why the vote went their way. London’s economy had been stuck in a recession for almost a nine-month period. The question was: “Are the Olympics going to provide a positive benefit for London’s economy?”

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.

The American economy took a turn for the worst in 2007. Known as the “Great Recession,” the American economic recession entered into a recession in December 2007. The recession came after a large expansion in housing construction, home prices, and housing credit which began in the 1990s (Weinberg, 2013). The recession was large enough to impact all aspects of the American economy. The United States’ GDP dropped by 4.3% and the unemployment rate rose to 10% (Weinberg, 2013). Like most industries during the “Great Recession,” the sport business industry was affected. However, the effects on the sport business industry are far less severe than the effects on the other industries.

The Summer Olympic Games in 2000 was held in Sydney. It was an opportunity for Australia to prove to the world they were able to host a major international competition which left a positive impression of Australia. The Impact on Australia was beneficial to the country in a cultural, social, architectural and tourism perspective. From these games there were many unforgettable Australian sporting achievements. This presentation will give an account of the way the 2000 Olympics influenced the Australian way of life.

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 "Going to the Olympics" mural by Frank Romero painted in the 1980's to signify and walcome the 1980 olympics. Around that time graffiti was very popular and was going on every wall a grafitti artist could reach. Romero's art was on a freeway and had enough space between the wall and the road to be accessible to anyone and that lead to graffiti artist being able to access it and paint of hi art. INstead of the city buffering Romero's art they just painted over it making it a bland wall again.

Although the original ancient Olympic Games can be traced back to 776 B.C, Homer’s Iliad indicates they may have existed as early as the twelfth century BC. The Games were then continued for twelve centuries and were devoted to Olympian deities. Olympia turned into the site of these memorable ancient Olympic games that scattered the seeds for the largest global sporting events of current times, the Modern Olympics. The location of the Ancient Olympics is situated in the western part of Peloponnese. The Ancient Olympic Games continued until 393 A.D when Emperor Theodosius I of Rome discontinued them. There were not any more Olympic games for fifteen hundred years before they were resurrected in 1896 in the city of Athens. The man in charge of the recreation of the Olympic games was a Frenchman named Baron Pierre de Coubertin, who introduced the thought in 1894. He proposed to stage the games in Paris in 1900 but representatives, from thirty-four nations were so captivated with the idea that they persuaded him to move the Games up to 1896 and have Athens serve as the host.

"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

“Some people may rile against the commercialization or Americanization of the Olympics but figures show that the dollars from the US is critical for the sustenance of the Olympic movement. Besides TV, the IOC’s another major stream of income is private partnership.”( D.Jones 2012)

The Commonwealth Games will be held on the Gold Coast in 2018. It’s highly anticipated arrival will bring an estimated 6500 athletes and officials from 71 commonwealth nations to participate in the Games. Athletes will be staying in the new Games village, built at Parklands, Southport. The Government and Gold Coast city councils goal during the games is to bring forward more tourism into the Coast, as Queensland is Australia’s premier destination. The Gold Coast will be on showcase to the world for 11 days and must live up to the domestic and international tourist expectations that will flock to watch the world renowned games, having global reputation for delivering high quality events. However some doubtful stake holders don’t believe our

Countries utilize both the vast market and the attractiveness to increase ticket sales, sales in merchandise and tourism in their country. For the 2012 Olympic in London, it was estimated that 471,000 people visited from overseas primarily for the Olympic/Paralympics. ("Visits to the UK for the London 2012 Olympic Games and Paralympics - ONS", 2013, p. xx-xx) Not only does the country benefit from the ticket sales, but other businesses in the city (Hotels, restaurants, attractions, etc.) will flourish in business due to all the international trades that are occurring. The Olympic also provide jobs since the preparation, and the execution of the event requires a large staff as well as people with different skills. (Performers, construction workers, marketers, designers, etc.) Thanks to the Olympics, the United Kingdom saw a boost of £9.9 Billion ($17,805,486,600 CAD) in trades and investments. ("London 2012 Olympics 'have boosted UK economy by £9.9bn'", 2013) Hosting the Olympics can also make a psychological impact. With the great success Japan had in hosting the 1964 Olympics, (the first Asia Olympics as well as a method of being reaccepted by the rest of the world after World War Two), news that Japan will be hosting the Olympics 2020 significantly brought their citizen’s morale up after being hit with

The Olympic Games are a set of friendly competitions that bring countries from all around the world together, but many social, political, and economic problems in the past and present including racial and sexual discrimination and apartheid have prevented the Olympic Games from fulfilling their promise to bring countries together.

It is no secret that smart organization and long-term thinking played a major role, in the success of the 2012 London Olympic Games. One key area, which enjoyed a discernible boost, was the British economy. Local business enterprises enjoyed increased sales and trade, while new foreign investment escalated.

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