The Olympics Is Not Worth The Investment

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.

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 Games increased production, consumption, and employment. Salt Lake City, UT prospered from the increase in tourists and visitors, which led to returning vacationers and skiers. It also gained popularity and publicity form all of the global news coverage and all of the new facilities built for the Olympic Games. Naturally, politics and governments were important players in the 2002 Olympics. The Salt Lake City games left a lasting and strong legacy, yet ethics and morals were still overlooked in some of the scandals that occurred. The 2002 Olympic Games were very successful, and they will continue to be a positive memory and a smart economic decision for Salt Lake City natives and for those who enjoyed the Olympic Games that

Should the Olympics stay in one place? The Seattle Times says, “If the Olympics stayed in one place that would deprive nations of showing their pride.” One example of the Olympics traveling was in 1964. The Tokyo Olympics marked a shining moment in Japan’s history after that devastating bomb in WWII that was dropped on them. Second, a poll was taken in 2012 and it showed British men felt proud that the Olympics were in London. There are also bad things about the Olympics traveling though. However, sadly the last few Olympics have been leaving places bankrupt like Sochi, it costed them $50 billion dollars. Tim Wendel states, “The price on the Olympics will only go upward.” Staying in one place will also cost less, but it will also take away

The 2002 Salt Lake City Olympics had a dramatic impact on the economy not only the year of the event, but for years to come.

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

An entertainment or sports event, such as the MLB World Series, has a direct economic impact on the city that hosts the event because the city that hosts events such as these has to go through a series of new expenses and spending in order to be prepared for tourists. For instance, if a city is hosting the MLB World Series, the city is expected to have people from other cities, or even other countries looking for a place to stay during that given period of time. Therefore, companies such as hotels have to undergo a certain amount of spending to make sure that they have enough resources to meet the needs of these tourists. Another example, is that when an event such as the Super Bowl in the NFL occurs in a city, there are certain requirements

The Olympic Games should not have a permanent home because it could lead to many conflicts around the world and within countries. One good example of this is It would deprive countries the chance to show national pride. Whitt Flora said "The olympics represent the ultimate opportunity to showcase a national identity on the global stage." on page 3. If the Olympics have a permanent home then the same country shows there pride every 4 years. In the 2012 Olympics in Great Britain many polls showed that a vast majority of men showed a sense of national pride because Great Britain was hosting the games. If there is permanent host for the Olympics that sense of national pride might not be as big. Another good example that proves this is Hosting

Have you been thinking about the olympics lately, because I have. The reason I am researching this is because of the rumor of keeping or getting rid of the olympics. The main reason that I am researching the olympics is because the olympics might be hosted in Denver Colorado.

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

On the other hand, the Olympics have created a positive economic impact for the host country in many other ways. The increased tourism causes an economic boost

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 is one of the biggest and most unrivaled sporting events in the entire world. At first it may seem like a huge plus or advantage for a city or nation to host this event. However on the contrary there are a lot of negative aspects that occur when a nation hosts this event. While the event is taking place, from the outside it looks like a state of the art, prestigious event that it is. Some of the problems that are caused by hosting Olympic games deal with, stadium development, local resident life, security issues, and many others that will be discussed. One of the big problems when dealing with a mega event such as the Olympic Games is the stadiums, which get built, and how they get abandoned or not used after the games are finished. This is one of the major problems surrounding the Athens 2004 games. Many of the stadiums and infrastructure are left untouched and abandoned to this day.

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