The Olympic games originated in Athens in 776 B.C. The more popular modern day Olympic games began nearly 2300 years later in 1896. The games no longer represented a religious festival, but a sports competition instead. The games can be studied via multiple aspects such as political, social, and economic, but this paper will concentrate on the economic aspect of the games and more specifically, the macroeconomic impacts the games possess. 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 was not the only option when it came to the 2012 summer Olympics. France was also in the running and was actually pretty close to getting the gig. London won the bidding race with 54-50 votes from the International Olympic Committee. The need of some economic spark for London’s economy may have been the reason why the vote went their way. London’s economy had been stuck in a recession for almost a nine-month period. The question was: “Are the Olympics going to provide a positive benefit for London’s economy?”
Employment
Preparing for the Olympics takes a lot of time, effort and money.
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.
The video on “the Hidden History of the Olympic Games” provides intriguing revelations that the Olympic Games are driven by astonishing propaganda associated with international rivalry and social struggles (Poulton, 2012). The video clarifies that Olympic Games have preserved the colonial strategies and operations in most host nations and cities by the organizing bodies (Poulton, 2012). This has caused the production of unique ceremonies and symbolisms while supporting the encroachment of thieving indigenous lands in host colonies. For instance, Germany used the event to advocate the myth of Aryan racial dominance and physical prowess in the 1936 Berlin games. The German artists emerged to idealize athletes through sculptures and significant forms with muscle tones and physically fit features (Mason, 2012). The significance of the Munich massacre is that retribution is harshly critical in political agendas. This caused a loss of potential athlete skills where about 11 athletes were demised. A rivalry was triggered from the occasion even though the authorities were informed of terror attacks (Mason, 2012).
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 Olympic Games, was once a significant athletic festival that originated in ancient Greece as a religious festival which was revived in the late 19th century as a secular competition to
“Some people may rile against the commercialization or Americanization of the Olympics but figures show that the dollars from the US is critical for the sustenance of the Olympic movement. Besides TV, the IOC’s another major stream of income is private partnership.”( D.Jones 2012)
The Olympic Games, hosted in London of 2012 has sought out to be an economical benefit to the surrounding areas. The increase of tourism and advantages of exposing the community allowed for a semi stable financial aftermath.
Every four years, the entire world congregates to watch the Olympic Games. Here, thousands of the world’s greatest athletes compete for glory. The modern Olympic Games started only in 1896, but the ancient Olympic Games began over two-thousand years before. The ancient Greek Olympics were an important part of the Greek culture and were celebrated for hundreds of years, during which the political and cultural borders shifted. The athletic games held in Olympia during ancient Greece exemplified the religious and exclusive nature of the ancient Greek society.
The operation of the Olympic Games has its commercial operation rules, it uses the method of giving after fetching, mutual reciprocity and mutual benefit; it gives some economic benefits to the host city, at the same time it has strict control on the market development of the host city. Therefore, to develop the Olympic economy, we should not only follow the operation rules of the IOC (International Olympic Committee), but also fully utilize the added value of the rules to develop our own economy.
The growth forecast for the UK events industry following the 2012 London Olympic Games, which is the most recent mega event held in the UK, can be illustrated with the following table. This table highlights the expected growth, predicted to occur following the event. “In practice, a significant proportion of ‘London’s’ GDP is generated by people who live outside London but who commute to work in London. Likewise, the nature of the London labour market means that many people move within the capital for work.
It was announced around the world on September 7th 2013 that Japan would be hosting the 2020 Summer Olympics games in Tokyo. The competition has demonstrated the lengths that countries are willing to go in order to gain the privilege to host the world’s largest sporting event. In the past Tokyo had bid ineffectively for the 2016 summer Olympic, Madrid had failed to bid for both 2012 and 2016 Olympics games, and Istanbul has been rejected in total of five time. Why are countries (cities) so keen to host the Olympics? In reality, hosting the world’s biggest sporting party and paying for the entire budget is not especially attractive. The cost used to be unexceptional, but recent years hosting the Olympic games have been at a different level. 2008 Beijing Olympics is estimated to cost about $ 40 billion. 2014 Sochi winter games, which is now the priciest Olympic is history cost $ 50 billion. Great cities have been biding for a chance to host the Olympics, but is Sochi, a place that has never been heard of, the right place for this supreme event to take place? People around the world doubt this decision, but without doubt Sochi was the right place for Russia. Through Sochi, Russia has projected itself on to the world stage as powerful nation. The Sochi winter Olympic games has stimulated the development around the Kars Anaya Pollyanna regions. Lastly the majority of the facility built for the winter
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.
Every four years numerous athletes from around the world come to compete in the coveted Olympic Games. But these 10,500 athletes just from the London Olympic Games, are not the same as the 241 that competed in the very first Olympics in Athens (Olympic Games). The Games themselves also are completely different. The intent of these participants and the countries they descend from are much different. Once a celebration of the Gods, this old-time worship ceremony has been brought into the modern world as something utterly different. In the first year of the modern revival of the games, it was not an expectation for the athletes to compete in honor of the Greek gods. At the time, it was meant to bring a country glory. As
Beads of sweat dripped down Tsunekazu Takeda 's forehead as he eagerly awaited the fate of his beloved city Tokyo. He glanced around nervously to his fellow committee members as they had their eyes deadlocked on the 70 year old president of the International Olympic Committee Jacques Rogge. The defeat in the previous biddings 4 years ago still lingered in everyone 's mind as a nervous chill ran down his back as he watched as Rogge was handed the envelop. All was silent in the room all expect for the words "The International committee has the honor of announcing the 32nd Olympia games in 2020 are awarded to the city of Tokyo." A sigh of relive follow by a huge cheer or excitement filled the room as the Tsunekazu and his fellow Japanese committee members bounced out of their seats applauding and waving their flag. They had failed to win the 2016 Olympic Games against Rio de Janeiro in 2009 but have redeemed themselves here in 2013 winning the 2020 Olympics. The minds of the Japanese Olympic committee were unanimous; they had done it, on September 7th 2013, after 50 years the summer Olympics have been brought back to japan once again. But the celebration was only temporary, like a sugar high that wouldn’t last; hosting the Olympic Games is not an easy task. Years of planning and preparation, venues, ceremonies, along with cost vs expenses budget control, public opinion, and fluctuating the economy are only the tip of the iceberg of their worries. Tokyo is