The Pros and Cons of Hosting the Olympics

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With over two hundred countries participating, the Olympic Games is easily considered as one of the largest multisport event known to history. The Olympics are held at a different country, and even more rarely at the same city. For a country to be chosen to host the Olympics, the country’s National Olympic Committee (the country’s representatives for the Olympics) nominates a city (from the country they represent) that they think has potential in hosting the Olympics nine years prior to when they wish to host the Olympics. It is a two year process that consists of: Application Phase, Candidate Phase and the Election of the Host City. The country that wins the election is given seven years to prepare for the Olympics. (International Olympic Committee, n.d., p. xx-xx) The hosting country expends billions of dollars, usually money they don’t have, preparing for the Olympics. Then the question is raised 'why would a country go through so much trouble and spend an outrageous amount of money to host this event?' Throughout this discussion paper it will address all the pros and cons for a country to host the Olympics. It will also see if a smaller sports event can produce the same benefits the Olympic offers with less cost and risk. 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... ... middle of paper ... ...-some-greeks-look-back-at-2004-olympics-as-losing-proposition/ Quebec's Big Owe stadium debt is over. (2006, December 19). CBCnews. Retrieved January 18, 2014, from http://www.cbc.ca/news/canada/montreal/quebec-s-big-owe-stadium-debt-is-over-1.602530 Molnar, A. (2011, August 15). Warning to London 2012 Olympic hosts as Greece struggles with economy and security: an interview with political sociologist Minas Samatas. Security Games. Retrieved January 18, 2014, from http://www.security-games.com/news/warning-to-london-2012-olympic-hosts-as-greece-struggles-with-economy-and-security The Truce Timeline. (n.d.). Internation Olympic Truce Centre. Retrieved January 18, 2014, from http://www.olympictruce.org/index.php?option=com_k2&view=item&layout=item&id=3&Itemid=268&lang=en Rose, A. K., & Spiegel, M. M. (2011). The Olympic Effect*. The Economic Journal, 121(553), 652–677

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