The Olympic Games Is A Good Or Bad Thing Essay

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Position Paper Whether hosting the Olympic Games is a good or bad thing is very complex. City officials need to take in a lot of factors when determining whether or not to put forth the resources to submit a bid. One of the most crucial factors in deciding is determining what type of legacy the Games would potentially leave on a city that hosted. Legacies can be defined as, “ planned and unplanned, positive and negative, intangible and tangible structures created through a sport event that remain after the event. (Kaplanidou & Karadakis, 2010).” Bid evaluations take into consideration the projected long-term legacy that the Games leave on a city (Kaplanidou & Karadakis, 2010). The IOC looks for cities that will achieve a positive legacy that benefits the host city and country. With a mega event like the Olympics, there are both economic and social legacies to consider when looking at a host city. It is critical for bidding cities to accumulate and analyze all the information they can in order to make an informed decision, because once a city agrees to host, there is no turning back (Lecture notes). Considering that the promises of economic legacies are generally unfulfilled, Olympic hosts should focus on using the event to generate social legacies. In this paper, I will explain why the Olympic Games are so costly to a city’s economy and are an extremely risky investment. I will then proceed to explain some misconceptions about economic analyses, and conclude by showing

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