Economic Impact Of The Olympic Games

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Economic Impact of Beijing Olympic games in China
Introduction
Starting with the Los Angeles Olympics of 1984, the United States creatively combined the Olympic games with commerce, and the concept of regarding the economic impact of hosting the Olympic games was first introduced. It was a valuable chance for the host city to take the advantage of international influence and business opportunities generated from the Olympics, improving the international standing and prestige and boost the local and national economic development. With the aim of presenting a democratic, open, civilized, friendly, and harmonious China to the world, the Chinese government invested nearly $40 billon infrastructure construction from 2002 to 2006, which made Beijing …show more content…

(Lee, 2008) The plan not only included the construction of large gymnasiums, but also a makeover of Beijing as a whole. There were 32 Olympic-related buildings were built or refurbished in Beijing, including the Olympic stadium, venues, athletes’ villages, Journalists’ villages, media communication facilities and so on, with overall investment of $3 billon. (Kang, 2009) The large gymnasiums, such as the National Stadium (nicknamed the Bird’s Nest) and the National Aquatic Center (nicknamed the Water Cube), were well designed and constructed by internationally renowned architects, and they are still being used after the Olympics for holding large events or sport …show more content…

Research showed that for every100 thousand RMB of investments would lead to the employment of one worker. (Kang, 2009) Accordingly, the total amount of investment of $40 billon would create about 2788 thousands of job opportunities in Beijing. By comparison, there were only 1600 thousands of job opportunities created by Sydney Olympic games in 2000. (Li, 2012). Such a large demand of employment would stimulate China’s economic and industrial development for sure.

Another big change that Olympics brought to Beijing was the rapid increasing amount of tourists. According to Chen Jian, resident of the Beijing Olympic Economic Research Association, 2.5 millions domestic tourists and about 600 thousands of foreign visitors would visit Beijing during the Olympic games, with the total tourism expenditure about $4.9 billon. (Lee, 2008) Admittedly, since Beijing had been advanced the traveling environment and infrastructure constructions, it would attract more people to come and

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