...2024 Olympics My Position Hosting the Olympics Games is more than simply demonstrating a passion for sports; it has a profound social and economic impact to the host city and nation. In my view, the benefits will outweigh the challenges in hosting the 2024 Boston Olympics. By standing out and being chosen by United States Olympic Committee (USOC) as the candidate city, Boston has made a significant step toward the greatest honor to transcend peace, prosperity, and humanity through this event. Memorandum Date: Mar 11, 2015 To: United States Olympic Committee From: Subject: Withdraw Boston’s 2024 Olympics Bid Hosting the 2024 Olympic Games in Boston would be a great honor and an attractive opportunity to demonstrate the United States’ competitiveness and global leadership. Despite the opportunities, hosting such a mega sporting event bears tremendous downsides, including cost overrun, economic uncertainty, and reputation risk. In addition, Boston’s credential as a host city remains dubious. Hence, I urge USOC to withdraw Boston’s 2024 Olympic bid submitted to the International Olympic Committee. Cost Overruns Notwithstanding Boston’s announcement that all funding used for infrastructure and venues needed for the Olympics will be raised from the private sector, history indicated that this promise would most likely become an empty one and consequently threaten the host’s financial health. A study suggested that between 1976 and 2012, the average Olympic cost...
Words: 963 - Pages: 4
...Economics of Olympics ECON1001D – Macroeconomics Yurii Hrabovetsky 2015-12-11 Jason Dean The economics of the Olympics revolve around the prospect of high economic growth within the country post-Olympic years. This is often found to be an utter lie. The majority of the time the host country is promised a great amount of profit but the truth is that they tend to lose a lot of money on it – most of which comes from tax revenues. “During the competition between communities for the right to host a future Olympic Games, politicians and proponents bring forth predictions touting the economic benefits to the region that ultimately wins the right to host the Games” (Philip Porter, 2008, Page 470). Many politicians believe this idea of the economic value of the Olympics. Most of the time it is found that these countries lose a majority of the money. “However, when the Games are over the host communities are often left with substantial debts and, as we demonstrate below, little or no noticeable benefits” (Porter, 2008, Page 470). The predictions that are made and the results of the Olympics are often found to be completely different. This mostly due to the use of the input-output models and the misinterpretation of the short term results without consideration for the long term effects. This report will focus on how the predictions are made, the issues with these predictions, and the effects after the Olympics have ended. One of the models used to predict the results...
Words: 2024 - Pages: 9
...Macroeconomic Impacts of the Olympic Games In the summer, London played host for the prestigious Sporting Event which was the Olympic Games. During the Games, London was the world’s hottest spot with visitors, athletes and the media all converging in one place in order to take part and spectate the events. But even with so many potential customers during this time, did the games benefit the economy? The UK in total spent £9.325 billion on the games but did the huge investment pay off and how did that help other economic factors such as Unemployment and GDP growth or even Aggregate demand. The UK invested over 9 billion pounds on new facilities, improved transport and new transport links, infrastructure, safety precautions and accommodation in order to be adequate to host an Olympic Games as is requested by the International Olympic Committee. It was not only to impress the Committee but also to impress the public on how well equipped the Capital was in order to host the Games. The final budget of the games went over the original projected budget of £5.906 billion which was foreseen in November 2004 when London put forward their bid to host the games. This investment was claimed to be a small sacrifice and the economic benefits would surely outweigh it. According to the data above, we can see that overall the majority of money was spent on the core Olympic costs which include the venues, transport infrastructure, site security and programme management. According to Visa...
Words: 930 - Pages: 4
...and Economic Tourism (All sources are a part of Bibliography) "The media is going to be in town and they're going to stick microphones in front of a whole bunch of visitors to get their opinions on their experience in London. Their answers are going to be critical in supporting the reputation of London and the UK in the future," said Greg Klassen, Senior-Vice President of the Canadian Tourism Commission. This statement came just before the 2012 Olympics. In a nutshell, his comment hits the nail on the head in terms of the impact hosting the Olympics can have on future tourism after hosting the Olympics. It goes without saying, then, that hotels and restaurants should price cautiously. "Resist the urge to price for the Olympics and con-sider pricing for the next 10 years instead. You don't want these to become known as the rip-off Olympics," advises Klassen. By hosting a successful major event, a city is able to demonstrate technical and organizational abilities, and even winning the opportunity to act as the host city signals success. However, by taking on that responsibility, in an event such as the Olympics, you run into the possibility that the event may not go the way you planned it. Either way, hosting the Olympics is an opportunity that many tourist destinations will not let pass them by. The Australian Tourist Commission received US $6.7 million from the Australian Government over four years, to maximize the tourism opportunities presented by the Sydney Olympic Games...
Words: 1558 - Pages: 7
...Although it used to be thought as a pride for the host country to hold the Olympic Games, the consideration whether the cost of the Olympic Games outweighs the actual benefits brought to the host country is becoming increasingly more common among the public throughout the world. This essay is going to discuss about the cost and benefits that the host country may obtain by holding the Olympic Games. The negative influence caused by the Olympics may include the enormous financial cost and the passive social impact, while the host country is provided an opportunity to build up country status as well as to help the city renewal. First of all, the Olympics cost the host country an enormous amount of money to hold the game, which may then lead to...
Words: 1377 - Pages: 6
...Economic Impact of Mega Sporting Events on Host countries Nitika Mangal Table of Contents Table of Contents 2 Chapter 1: Introduction 4 Chapter 2: Aim and Objectives 5 Chapter 3: Literature Review 6 Chapter 4: Analysis 1 - Economic Impact of Atlanta 1996 Olympics 9 Positive Impact 9 Negative Impact 10 Chapter 5: Analysis 2 - Economic Impact of Sydney 2000 Olympics 12 Positive Impact 12 Negative Impact 14 Chapter 6: Analysis 3 - Economic Impact of Sochi 2014 Winter Olympics 16 Positive Impact 16 Negative Impact 18 Chapter 7: Analysis 4 - Economic Impact of FIFA 2010 World Cup, SA 20 Positive Impact 20 Negative Impact 21 Chapter 8: Analysis 5 - Economic Impact of FIFA 2014 World Cup, Brazil 23 Positive Impact 23 Negative Impact 24 Chapter 9: Overall Critical Analysis of Mega Sporting Events 26 Olympics 26 FIFA World Cup 29 Chapter 10: Challenges in Calculating Economic Impact 31 Chapter 11: Conclusion 34 References 35 Chapter 1: Introduction Hosting a sporting event, and that too a mega-sporting event is considered to be a proud moment in the history of any country. It is hard to provide a clear and well defined meaning for the term mega-event, as its difference from a normal event is not just dependent on the number of actual participants. It needs the fulfillment of many different factors...
Words: 11117 - Pages: 45
...WHAT ARE THE ISSUES OF WORLDWIDE EVENTS ON A COUNTRY ? The exemple of Brazil with the World Cup and the Olympic Games Globalization Seminar – September 2014 GROUPE 36 - PARIS Maxime BEURRIER, Lauriane CORBIN, Aurore GUILLON, Yuan GUO, Benjamin FERRE It is used to say that "the surfer is wonderful when he is standing up on his board". Brazil is one of these surfers since the early 90s. Expected to become a major world power, the country has moreover the opportunity to shine in front of the world by organizing successively world wild events in less than five years. It had never been given to a country the opportunity to receive such big events, especially in such a short period: the World Youth Day (WYD), the Confederations Cup, the Football World Cup in 2014 and finally the Olympic Games in 2016. After China, who organizes Beijing Olympics games in 2008, Brazil is now pursuing his prodigious road on the top of the wave. The organisation of these worldwide events is a great opportunity to consolidate its influence in the world but also the risk of eventually falling off from his surfing-board, into the water. After the competition among several countries in order to obtain the right to host these events, each slightest actions of the winner are scrutinized by the whole world. Today, the occurrence of events involving all the nations of the world highlights the globalization characteristics. Indeed, for one summer, many countries meet around a single place, a single goal,...
Words: 3879 - Pages: 16
...1988 Winter Olympics In 1988, Calgary hosted the first Olympic Winter Games held on Canadian soil. The Winter Olympic Games in Calgary represented an opportunity for Canada to showcase itself on the global level. Not only did the international media descend upon Calgary, showcasing their natural beauty and famous sights, but Canadian athletes were also cast under a spotlight, and their victories and losses were seen to be correlated with the success of the Games and the health and vitality of the Canadian nation by the Canadian public. Despite the Canadian team only winning 5 medals and place 12th in the rankings, the legacy of the ’88 Olympics continues to transform Canada and impact present day and future Olympic Games. . Canada has been a strong proponent of winter sports, but prior to 1988, no Canadian city had ever hosted the Winter Olympic Games. Calgary won the bid to host the ’88 Winter Olympics in 1981 defeating out Falun, Sweden, Cortina d'Ampezzo, and Italy. Calgary changed every single venue that they proposed to the IOC in their candidature. Many of the ski events were forced to be rescheduled due to the warm Chinook winds that gusted up to 60 miles per hour. The Canadians two greatest efforts in the Games came from men’s and female’s figure skating which resulted in 2 silver medals. In men’s figure skating Brian Orser of Canada was co-favourite with America’s Brian Boitano, it was the thought of home ice and the emotion it brought could give him the confidence...
Words: 1260 - Pages: 6
...Hosting sports extravaganzas – A boost to the economy or the boost is just a myth. Brazil, a nation which is the fifth largest – both by area and population, co-incidentally has five stars on its national football kit, each for every world cup they have won. The game of football has found numerous admirers, fans and players in this Latin American nation, and each time the game was played on its soil, Brazilians have never disappointed. They have turned up in huge numbers and have unanimously supported and loved the game. Therefore, it was no surprise that Brazil would paint itself yellow and green all over again in June-July 2014, when the world’s greatest sporting extravaganza was about to reach the shores of Sao Paulo. However, the world looked on with utter disbelief when the whole country went into a denial; according to a survey around 60% Brazilians opposed their nation’s decision to host the World Cup. Recently, Vietnam backed out from hosting the Asian Games citing the reason that holding the multi-sport event would not be financially feasible for the nation. In a country where inflation has hit the poor badly, where the infrastructure is ridiculous at places, economy is growing at less than 2% - hosting the World Cup was supposed to burn a hole into Brazil’s already tottered pockets, a hole as big as $15 billion. Vietnam’s $155 billion economy is recovering slowly and its annual growth is expected to be more than five percent in the next few years, the nation faces...
Words: 1451 - Pages: 6
...The Olympic Games are a set of international sports competitions held every four years since 1896, regrouping over 10,500 athletes from different nations, participating to nearly 300 different sports (Australian Olympic Committee, 2009). They are one of the most renowned events in the world, and have the ability of attracting the attention of a worldwide audience and to produce important impacts on the country or region that hosts them. After hosting the Olympics two times in 1908 and 1948, London will beat the records this year by being the first country holding three Olympic Games and, in the same way as the previous Games, the 2012 Olympics are going to have major impacts on the country on several industries (Australian Olympic Committee, 2009). This essay will mainly discuss the political, social and economic long-term impacts that hosting the 2012 Olympic Games will have on the city of London in relation to the Events Industry. This first part of the essay will discuss the political impacts of the Olympics on the Events Industry. Over time, the Olympic Games have become “irreparably intertwined with politics” and have generated a good political image on the hosting country as they served as a tool of global publicity. Unfortunately, this hasn’t always been a positive thing as it often led to bribery and corruption. For example, in 1936 the Nazi Party used the Games to promote German superiority. This is why the International Olympics Committee (IOC) former...
Words: 2041 - Pages: 9
...bid for the London 2012 Olympic Games and Paralympic Games, the London Organizing Committee for the Olympic Games and Paralympic Games (LOCOG), was assigned the duty to strategically devise the plans for executing “the world’s largest peace-time event” (“The Times100, 2012). Tremendous efforts go into the planning and development of a mega event such as the Olympic Games. The vision for the London 2012 Olympic and Paralympic Games could potentially facilitate a substantial opportunity that will realize vast outcomes socially, culturally, economically and environmentally for the country beyond 2012 (“Times 100,”2012). However there are underlying concerns present that could potentially impact the local community, outweighing the benefits and the LOCOG’s efforts to achieve this vision. I will provide brief background information on the London 2012’s Olympic aspirations, and analyze the opportunities and debunk the concerns for the social, cultural, economic, and environmental aspects involved in delivering favorable results, according to the vision goals. I will follow with a discussion and analysis of the London 2012’s values and their effect on the goals of the Games. Then I will apply SMART methodology as a framework for measuring the London 2012 sustainability objectives. Finally I will evaluate opportunities for the local schools to become involved in the objective goals for London 2012. London 2012’s Vision Beyond the Olympic and Paralympic Games An established vision...
Words: 2653 - Pages: 11
...The olympics originated from Ancient greece, it was created to display each city-states athletic talents. The tradition evolved into the modern Olympics beginning in 1892 which helped mold many factors that is being used in modern olympics. For instance nationalism has a huge effect on the Olympics, based on what the documents given have shown. The olympics were also used to help countries display their power, feminism, and to create peace among each country. All of these elements that were listed provide to the fierce nature of the olympics. Having documents that display what a majority of the country’s citizens help visual the majority of the world’s view on the games and if they are beneficial. First the olympics helped countries create peace among each other. Wars between the nineteenth and twentieth centuries have divided the world, for instance the cold war, WWI, and WWII. The reason the Olympics helped countries create peace is through the friendly athletic competitions that forced countries to unite together. Furthermore, Pierre de coubertin the founder of the modern Olympics view was to unite and revive the olympics, another view he had is to “reduce the chances of war”( Document 1) and to create ally’s through the olympics. According to...
Words: 878 - Pages: 4
...Hosting Major Sport Event Hosting a major sporting event can give many economic, social and cultural benefits. However, the costs of hosting the event can also be quite high. Advantages Raise profile of city / country Raising the profile of a city can lead to lasting economic benefits. For example, cities which host the Olympics can be assured of a persistent increase in recognition and tourism. Barcelona, Sydney, Beijing have all seen this from hosting the Olympics. For a country like China with a controversial human rights record, hosting a major sporting event can be a way to gain greater international acceptance. When South Africa hosted the Rugby World Cup and later the Football World Cup, it was a defining moment in highlighting the new ‘post-apartheid’ South Africa. This raised profile can be important for giving economic benefits, such as, attracting tourists and business investment. The importance of this point depends on the particular city. For South Africa, the World Cup made a big difference to perceptions of South Africa. For a city like London, which already has a very strong reputation, hosting the Olympics will be less influential. However, even hosting the Commonwealth Games can be beneficial for a city like Manchester, which benefited from hosting games, despite persistent rain! Long Term Investment A significant benefit is the long-term investment which comes from preparing for a major event. The city / country will have a legacy of improved sporting...
Words: 711 - Pages: 3
...Olympic slogan Slogan of the Beijing 2008 Olympic Games - One World, One Dream (One World One Dream), embodies the essence and the universal values of the Olympic spirit - unity, friendship, progress, harmony, participation and dreams, to express the world inspired by the Olympic spirit, pursuit of common aspirations for a better future. Although human beings of a different color, different languages, different races, but we share the charm and joy of the Olympic, the common pursuit of "the ideal of peace, we belong to a world, we have the same hopes and dreams. "One World One Dream" (One World One Dream), a profound reflection of the core concept of the Beijing Olympic Games, reflecting as a "Green Olympics, Scientific Olympics and Humanity Olympics" the core of the three concepts of the human soul, the harmony inherent in the Olympic Games of values. Building a harmonious society and achieving harmonious development is our dream. "Heaven" and "harmony" is the Chinese people since ancient times, man and nature, the ideal of a harmonious relationship between human beings and the pursuit. We believe: peace and progress, harmonious development, harmony, cooperation and win-win and the good life is the common ideal of the world. "One World One Dream" (One World One Dream), the text concise deep, is of China, the world's. Slogan expressed the Beijing people and the Chinese people and peoples of the world there are beautiful homes, share the fruits of civilization, the lofty...
Words: 988 - Pages: 4
...Accommodation/Hospitality 7 Environmental Concern 9 Safety 10 Economic Projections 12 Predictions 14 Additional Sources 16 APPENDIX A 17 Executive Summary This paper has attempted to uncover some facts regarding the upcoming Rio de Janeiro Olympics Games and explain how the city is preparing to host the event. This report explores and predicts the preparation and the impacts of 2016 Summer Games in Rio de Janeiro city. The Brazilian Government expects to boost the economy with increased tourism and create a large number of jobs prior to and during the Games. The exposure of Rio will improve the global awareness of the city and create new opportunities. This report will uncover and highlight the city’s preparation including transportation, accommodation, environmental concerns, safety and economic projections. The paper is concluded with the student predictions towards the Rio hosting the event. Overall the report revels how the Games will provide an opportunity for the city to improve infrastructure and build new world-class venues which be put to use for a long period of time after the Games. The city expects these improvements to stimulate the economy and its sustainable growth providing enough financial gains to compensate for the cost of the games. Rio 2016 Cities across the globe are using mega events like the World Cup and Olympics to catalyze urban development, social and economic change. Being a host city is a way in which cities can express...
Words: 3362 - Pages: 14
