Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Low socio economic status and sport participation
Benefit of hosting olympic games
The pros and cons of hosting the Olympic games
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Low socio economic status and sport participation
Business opportunities for companies Businesses in New South Wales won A$1bn worth of contracts from the Sydney games and an additional A$300mn was generated by local business. Over 55,000 people received employment related training. If London hosted the Olympic games, thousands of UK firms could be involved in supplying everything from construction to manufacturing, catering to merchandise. (http://www.sportengland.org/2012_uk.htm) Boost to tourism The tourist industry won't just boom during the four weeks that the Olympic and Paralympic games actually take place, but for months and years before and after the event. Price Waterhouse Coopers believe the Sydney games gave Brand Australia A$6.1bn worth of additional publicity and over A$6bn worth of spending from 1.6m visitors between 1997 and 2001. Between 1993 and 1996, after Sydney had been named as the host city for 2000, its convention and exhibition sector grew with the number of international visitors increasing by 78%. (http://www.sportengland.org/2012_uk.htm) AFFORDABLE HOUSING Olympic Villages, will provide market and affordable housing units after the Games are complete. (http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf) INCREMENTAL PUBLIC REVENUES An economic study of the financial impact of the 2010 Olympic projects in combination with the expanded Convention Centre reports incremental tax contributions − largely from tourism, hospitality and conventions − of nearly $2.5 billion over 20 years. (http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf) GLOBAL PROMOTIONAL EXPOSURE Analysts have concluded that, as host of the 2000 Olympics, Sydney received $6 billion in free publicity − essentially a $6 billion glo... ... middle of paper ... ...en in construction jobs at Olympic venues. The 1996 Games also play an important role in securing grants for community projects from private, state, and federal sources. The $100 million federal "empowerment grant" is an example. During President Clinton's speech at ACOG, he noted that the 1996 Games was a critical factor in distinguishing the City of Atlanta from other applicants for the empowerment zone grant. Additional examples include the Atlanta Regional Commission's approval of $19 million for design and construction of pedestrian walkways in the central city and the Atlanta University Center area, Congressional approval of $11 million for improvements at the Martin Luther King, Jr. Historical Site, and grants from the Federal Transportation Administration to MARTA. Additionally, the Olympics has generated a wide range of cultural and youth-oriented programs.
Siegfried, J., & Zimbalist, A. (2000). The economics of sports facilities and their communities. The Journal of Economic Perspectives, , 95-114.
Close, Paul, David Askew, and Xin Xu. The Beijing Olympics the Political Economy of a Sporting Mega-event.. Hoboken: Taylor & Francis, 2006.. 34-35
In the summer of 1996, Atlanta Georgia played host to the 23rd modern Olympic games. It was easily the greatest thing to happen to Atlanta in the 90's and there were many benefits brought its way as a result. Of all these benefits, the most significant ones were (1) the legacy of all the facilities built for the event, (2) the revitalization of the downtown area, (3) the exposure it gave to the city and (4) the economic benefits it gained as a result of all this.
It was estimated that the Olympic Games 2012 would involve more than 11,000 athletes and officials, 1 million visitors from around the world, and 4 billion television audiences, or more. Therefore, it was important to ensure that the Games preparations were ready on time, delivered high standard sports facilities to the sports professionals while controlled spending within budget.
Hosting the Olympics comes with many perks for such as, prestige, the creation of new facilities and countless amounts of benefits. With so many things the Olympics has to offer, there can be numerous reasons why countries compete to be elected as the hosting country for the Olympics. The most common reason countries want to host the Olympic is because of its potential ability to improve the country’s economy significantly. With the entire world participating in the Olympics, the hosting country can market...
The Olympic Games plays a significant role in the world. The relationship between it and host countries is important to investigate for comprehending cultural studies. According to Xu and Kirby (2008), the Olympic Games has a considerable impact on the expression of national identity. For example, London applied this approach to promote its national identity. This can be discovered from the BBC video called James Bond escorts The Queen to the opening ceremony in 2012 (2012): an amiable identity is perceived by the audience through presenting corgi at Buckingham Palace. Moreover, China is no exception. There is an image about the opening ceremony of the 2008 Olympics, it shows a spectacular drumming performance. In addition, an article about
The organizer have been missing a great opportunity to celebrate their games and enjoy the festivities because masses of cheering fans and Olympics revelers would help present their country in the possible light, as the games are being televised to an estimated worldwide audience of more than 4 billion.
One may disagree that hosting Olympics is not worthwhile as it requires a city or a country to bring out an enormous sum of money for the preparation and planning of hosting the Olympics. Zimbalist (2012, pp. 116) says that the summer Games roughly generates a total of $5-$6 billion and almost half of it belongs to the International Olympic Committee. On the other hand, the cost of the games has increased roughly
Did the Winter Olympics in Sochi really cost $50 billion? A closer look at that figure. - The Washington Post. (n.d.). Retrieved March 2014, from http://www.washingtonpost.com/lifestyle/style/did-the-winter-olympics-in-sochi-really-cost-50-billion-a-closer-look-at-that-figure/2014/02/10/a29e37b4-9260-11e3-b46a-5a3d0d2130da_story.html
...llion, various factors caused the budget to expand to over $51 billion, surpassing the estimated $44 billion cost of the 2008 Summer Olympics in Beijing which was the most expensive Olympics in history.
While sports for the spectators are merely entertainment, the economics of the industry are what drives businesses to become involved. Sports have become more of a business entity rather than an entertainment industry due to the strong economic perception of the over all industry. There are several instances in which economics may contribute to the effect on the sports industry, such as: the success of a team, the price of a ticket, the amount of money an athlete will make, and the amount of profit a team will make. The success of an...
Most at times do not really realize how important history and its events greatly influence the way we live and what we do today! Every four years we celebrate the beginning of something that was brought up long ago, the Olympics! This great event in which, now the whole world participates in started way back in the year 776 BC. It started from people playing for the God Zeus to people playing for their country and a medal, the Olympic Games sure did evolve as the time and beliefs changed.
Volunteers are the backbone of organizing a strong and successful Olympic Games. They are the reason each Olympic Games runs smoothly and are always enjoyable to watch. What these volunteers might not obtain with money, they do obtain in a once-in-a-lifetime experience. We are able to look at past successful Olympic Games volunteer programs such as Sydney and London and construct our own for the 2028 Los Angeles Olympics.
Many investments for infrastructure construction in the destination primarily designed for the business tourists (hotels, restaurants, transportation…) provide economic profits, and they can also be enjoyed by local residents and leisure tourists.
Generally, infrastructure is divided into two main parts which involves hard and soft infrastructures. According to UNWTO (United Nations World Trade Organisation), (2011), the enlargement of tourist arrivals, went up by approximately 7% in 2010 to 940 million, has led to increase in the number of new and state-of-the-art hotels, restaurants, airports and other tourist apartments. The rising share of amenities illustrates the improvement of hard infrastructure caused by more tourist number. Other contributions of the industry to the former accessibility of electricity and water, better road systems and transport services are also involved in the related expansion of economic activity (cited in Boz, 2011). Besides that, tourism offers numerous positive impacts to the latter, according to OECD, (2014) “soft infrastructure” can be defined as the creation of events and spaces which shows the spirit and unity of that country’s culture. These forms of infrastructure programmes have been applying to both urban and rural areas in order to make the place more well-known and tourists attractive. For example, in Australia, 2007 several events including the Booktown Festival were held to develop marketing strategies and increase tourist numbers. The results were more satisfactory than expected with place-branding advantages, noticeable rural regeneration, growing tourist numbers and