The Economic Impact of 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.

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 Olympic Games are recognized globally by billions of people. This event is the biggest sporting event not only because it comes once every four years, but also because the world’s best athletes come together to compete for world fame and glory. Hosting the games seems like an honor for most people, however there is numerous risks involved

A third factor that shaped the Modern Olympic movement from 1892 to 2002 was global marketing. Countries started showing more and more economic interest. Document 5,7, and 9 show how countries in some odd way gained huge amounts of revenue for competing in the Olympics. This gave countries an incentive for hosting, sponsoring, and as well as obviously competing in the games. Document 5 expresses the results that the Tokyo games had on Japan’s economics. The

The sporting mega events that were chosen for our analysis was the Summer and Winter Olympics, the World Cup and the Commonwealth Games. These 3 events are the largest mega events in the world, and are excellent representations of sporting mega events as a whole. We wanted to go as far back as our data indexes allowed us to go, which was the 1996 Summer Olympics in Atlanta, so we made that our starting point. Our goal was to look at all of the bids made for the mega events, and look at a selection of variables influence on their chances of winning. We used data from the year the countries hosted the events (excluding the data used for future events) in order to go as far back as the indexes would allow us.

Sport events like the Olympic games provide the opportunity for host countries to show their

The negative impact of recent Olympic Games on the host country has caused controversy on whether this event is sustainable. The Olympics have a huge impact on the economic, social, and environmental aspects of the country, but the multiple viewpoints show that everyone perceives these impacts differently. Furthermore, assuming that one aspect brings positive impacts to the country, there is always a chance that another aspect is influenced differently. The cost of the Games is one of the largest impacts on the country, and the Olympic Games in 2008 cost $42 billion alone (aperianglobal.com). Additional factors, such as the pollution caused or the drawbacks of tourism, have also led the media to question whether the Olympics are worth the

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

Sports tourism depicts the act of traveling from one place to another such as a state or country. The purpose is to watch a sports game competition. The practice has not always been entirely widespread, but in the contemporary world, the number of people attending events that are happening outdoors has considerably augmented. The rate of travel has increased, and people engage in the act to participate in their favored events. The trend has thus increased the rate of traveling activities (Bull & Weed, 2012). The essay will analyze the potential effects of sports tourism and include the aspects of economic, social and environmental. It will further explain an integration of sustainability principles and conclude by giving a

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 &

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.

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

In this assignment i will be discussing how cities can move and improve to become from merely even host and actually become genuinely an eventful city. cities have always been able to attract a wide range of audience from all parts of the world to display a cities practise, culture, music, history, artist and crafts and various other fields to help shape and strengthen a city and create a strategy to face the global competition. a city is an eventful city due to the fact they are constant pressure to regenerate a new urban fabric, economical and social cultural propensity. cities having to host events means the creation and promotion of events such as festivals, shows, exhibitions, fairs and other sporting events e.g. Wimbledon there is

At the moment when we development of events, we also bring some impacts to the environment at the same time. For example, when we are building a conference and exhibition center, we have to concern about carbon emissions because of the engineering machinery we are using. How to correctly deal with construction waste is also a serious problem.

This report will express and discuss the motivation behind why tourists and visitoirs attend festivals. Throughout the years there has been a lot of evidence and research to show that the the Edinburgh Festival itself is becoming increasingly more popular. There are many reasons as to why this is however the main one being that there is a large amount of events and festivals within the Edinburgh Festival that can accommodate all ages and variations of people. In order to effectively understand consumers it is important to research where and why people attend the festivals themselcves. Through doing this you can target a large consumer market which will in turn satisfy and attract more people to the event. The famous Edinburgh summer festival is an example of the variations of events that Edinburgh has produced in order to attract a wider audience and will be further explained. Furthermore, the report will concern the overall background and efforts behind festival and events, in order to analyse them as a whole there will be particular attention placed upon Scotland’s capital city, Edinburgh’s. in order to analyse the consumers behind a festival and event product it is important to initially look at demand, the demand includes both the motivators and determinators which will further be described further on within the report.