The Olympics Is A Major Economic Decision Made By The Country

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.

There is an argument as to whether or not the United States should bid to host the Olympic Games. There are many positive and negative reasons as to help decide whether it will be or not be a good idea. Some positive reasons would be improvements in all types of transport, increase potentially in tourism and business activity. Some of the negative aspects would be potential costs and burdens to the community and an increase in costs and taxes. Many people are going back and forth arguing over this topic. The United States should bid to host the Olympic Games.

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.

Founded in 1882, the Olympics is an event that brings the world together in a peaceful way. However, many factors, both positive and negative, have shaped the Olympics depending on the time and the country hosting it. Women, political, and economics are a few factors that have shaped the modern Olympic movement from 1892 to 2002. The establishment and growth of the modern Olympic games has been greatly affected by women.

There are many factors in every country that transform the impact of the Olympic Games, but in general, the economic costs outweigh the benefits, while the social impacts are mostly positive. As such, countries in general should not host the Olympic Games for their own national interest, but they should first understand the impacts of the Olympics in relation to their own country before making a final

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

"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

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

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

Every four years a different country hosts the Olympics. Every two years its either the Winter or Summer Olympics. It is two thousand sixteen and in August, everybody eyes are going to be glued to their televisions when Rio host the two thousand sixteen Summer Olympics in Brazil. Many cities around the world put bids in advance to hold the Olympics. The Olympics are a big deal and you have to have the resources to host it. You need to have facilities for the sports, transportation, Olympics villages for the athletes to stay, a stadium for the opening and closing ceremonies, and most of all money. Cities tend to lose money when hosting the Olympics. Sometimes the facilities they use get abandon and are never used again. They are many reasons for a city to host the Olympics, but there are three reasons to not. Reasons for not hosting it because it is expensive, there no guarantee of profits or increase tourism in the host city, and to many buildings being left abandoned

With the Olympic games being held in Sydney this year, I wondered if perhaps the performance of the economy was being affected in part by the fiscal stimulus provided by Olympic construction in Sydney and other parts of the country. Australia’s economy has been performing well recently, suggesting that there might be some effect. Over the last five years, growth in Australia’s gross domestic product has averaged 4.35%, almost a full point above it’s thirty year annual average of 3.5%, and the unemployment rate is near a ten year low. According to one estimate, the Olympics will tack on an additional six and a half billion dollars, about 1.6% of the GDP, to Australia’s GDP over the

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.

Higham (1999) discusses that there are numerous problems, which will be evaluated with hosting an Olympic games such as, development issues, local resident issues, short-term affects, and security issues. In terms of development issues, there is a significant cost dealing with large scale sporting events, and economic benefits are generally received more by big time business interests not the host community. So the host community doesn’t benefit as much as they potentially could by hosting the

The whole world seemingly stops, all differences and fights cease, and competition ensues once every four years. This happens for the Olympic Games and the FIFA World Cup, two of the biggest international competitions in the World, and the source of abundant national pride. But what, perhaps, is the greatest honor for countries when it comes to these events? Qualifying? Maybe. Winning? Probably. Hosting it? Most definitely. Countries lunge, better yet, dive at the opportunity to bid for the possibility to host the Olympics or World Cup, but while this honor is a source of great pride and achievement, what is the true impact it carries? Is it an economic jolt for the host country that will boost their GDP? Or is it temporary nudge that will leave behind white elephants and wasted assets for the host country? These questions are particularly intriguing to me, being that I have competed at the international level (representing Puerto Rico for basketball) at qualifying tournaments for events like these two, and it seems like the host country is entrenched in joy and pride. Now granted, these qualifying tournaments are on a much smaller scale than the giants like the Olympics and World Cup, but I was so puzzled that a source of so much happiness and unity could carry along such a horrible aftermath as shown in documentaries and news clips. So I decided I had to investigate for myself, and this topic was absolutely perfect.

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