...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
...INTRODUCTION You’re at home, watching your favourite sports team, when you begin to notice something: Every time the camera zooms in on the coach for his reaction to a play, there’s always the same group of people wearing the same t-shirts sitting directly behind the bench. Then it hits you—they’re promoting a brand -- one that hasn't officially sponsored the game. It refers to a situation in which a company or product seeks to ride on the publicity value of a major event without having contributed to the financing of the event through sponsorship. What Is Ambush Marketing? Ambush marketing is when a company that hasn’t paid to be a sponsor of an event, gets free publicity by unofficially communicating their brand in places where spectators, cameras or reporters will see them. By purchasing sponsorship, a sponsor seeks to attract the attention that an event generates to its own product. In a typical sponsorship arrangement, a sponsor purchases the sponsorship property rights and does further promotion to draw attention to itself. In “ambush marketing,” another company, often a competitor, intrudes, thereby deflecting attention to itself and away from the sponsor. The term was initially coined to describe the activities of a company that associated itself with an event without paying the requisite fee to the event owner. McKelvey describes it as “a company’s intentional effort to weaken or ambush its competitor’s official sponsorship. It does this by engaging in promotions...
Words: 7705 - Pages: 31
...China after the 2008 Beijing Olympic Games Abstract Mega events have intrigued the academia because of the huge impact they have on the host countries. Not only do mega events catalyse urban regeneration, they also have the ability to command international media’s attention. Furthermore, nations have been known to use mega events such as the Olympic Games, FIFA World Cup, and World Fair to rebuild image and draw in tourists to serve the economic development of the region. While the Olympics are one of the most studied mega events, most of them emphasise on the Western perspective probably because only three out of twenty-six Summer Games have been held in Asia. The most recent one is the 2008 Beijing Olympics, which is the focus of this research. In particular, this study aims to explore China’s image change after the event and the influencing factors that contribute to the change. One’s perception and image change are emotional and subjective; therefore, this research can gain a better insight through qualitative approach. Twenty participants from sixteen countries were recruited and interviewed for 20-30 minutes regarding the Beijing Olympics and related news around that time. The findings showed that China achieved moderate success in rebuilding its image in the economic and technological aspects. Many interviewees were impressed by its organising ability and modernisation. However, China failed to change its image through the Olympics when human rights violations...
Words: 31531 - Pages: 127
...The Role of Technology in the Olympics When the modern Olympics began in 1896, Thomas Burke, an American athlete, wore a cotton shirt and cotton shorts and ended up winning gold in the 100-meter sprint. Fast-forward to the 2012 London Olympics. In August, American athletes in track events competed in Nike’s Pro TurboSpeed suits. The tight-fitted apparel was made from recycled polyester fabric, designed to limit aerodynamic drag and boost athletic performance. Today, it’s hard to imagine any sport that hasn’t been touched by technology. From the synthetic material swimmers wear to the carbon-fiber frames in cycling, the International Olympic Committee (IOC) and other international sporting federations have welcomed most technological innovations that have arguably improved the games. While there are many variables that are associated with athletic performance, one of the contributing factors for breaking world records has been technological innovation in design and equipment. With every passing Olympics, technology is shrouded with controversy, with many spectators claiming that the spirit of sport is being hindered by the use of technology. While this is an adamant concern, recent studies have shown that athletic performance has reached its physiological limit. In order to keep audiences engaged in the modern Olympics, technological innovation is needed to help assist athletes in achieving world records. From tracksuits to running shoes, innovation in clothing design garners...
Words: 2364 - Pages: 10
...BACKGROUND OF THE PROBLEM Lady Footlocker is brand of Foot Locker, Inc. to meet women’s consumer’s needs in athletic footwear and apparel. Foot Locker, Inc. is an American sportswear and footwear retailer, with its headquarters in Midtown Manhattan, New York City, and operating in approximately 20 countries worldwide. Formerly known as Venator Group, Inc., it is the successor corporation to the F.W. Woolworth Company. Foot Locker, Inc. operates the eponymous “Foot Locker” chain of athletic footwear retail outlets (along with “Kids Foot Locker” and “Lady Foot Locker” stores), Champs Sports, Footaction USA, and Eastbay/Footlocker.com Eastbay/Footlocker.com own the rights to Final Score, ESPN Shop, AFL Store, and The United States Olympic Shop. The chain is known for its employees' uniforms, resembling those of referees. Now a days women are no longer different than men, but we think it’s vice versa because men do things now that women usually do, like taking care of the kids and cooking, as for women they do most of the things men do these times, they are actually more...
Words: 1253 - 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
...CHAPTER ONE INTRODUCTION 1.1. BACKGROUND TO THE STUDY The goal of every business is to make profits for the owners. This looks to be an extremely effectiveness difficult task unless firms discover the different ways to improve on efficiency and of their operations. Recruitment is the process of generating a pool of capable candidates applying to an organisation for employment (Gold, 2007). Applicants with experience and qualifications most closely related to job specifications may eventually be selected. Organisations become concerned when the cost of a mistake in recruitment is high. According to Armstrong (2006) the aim is to obtain, at a minimum cost, the number of suitable and qualified candidates to satisfy the needs of the organisation. The organisation attracts candidates by means of identifying, evaluating and using the most appropriate sources of applicants. El-Kot and Leat’s (2008) observation is that recruitment begins with advertising existing vacancies As already mentioned, this can be done internally or externally. In this instance the researcher was interested in external sources and processes as organisations in the Province are currently experiencing an undersupply of suitable candidates. Company policies related to the employment of relatives may influence its recruitment efforts. Currently more and more companies implement anti-nepotism policies that prevent the employment of close relatives, especially relevant to placement of candidates in the same departments...
Words: 4622 - Pages: 19
...The current embodiment approach to cognition proposes a direct link between thinking and skilled action, which is critical to sports performance. Executive functions are vital for beginners to learn novel skill sets with the presence of habitual responses as well as for experts, such as Olympic athletes, to facilitate goal-directed actions without distraction. And in terms of cognitive computation, athletes aim to develop skilled movements by accomplishing their goals at the lowest possible cost (Wilson, 2008). From a cognitive psychology perspective, anxiety is viewed as an emotion characterized by the negative affect that impairs performance (Eysenck, 1996). Several theorists have argued that the negative performance effects of anxiety...
Words: 795 - Pages: 4
...ARTICLE IN PRESS Tourism Management 29 (2008) 403–428 www.elsevier.com/locate/tourman Progress in Tourism Management Event tourism: Definition, evolution, and research Donald Getzà Haskayne School of Business, University of Calgary, 2500 University Ave. N.W., Calgary, Alberta, Canada T2N 1N4 Received 24 April 2007; accepted 31 July 2007 Abstract This article reviews ‘event tourism’ as both professional practice and a field of academic study. The origins and evolution of research on event tourism are pinpointed through both chronological and thematic literature reviews. A conceptual model of the core phenomenon and key themes in event tourism studies is provided as a framework for spurring theoretical advancement, identifying research gaps, and assisting professional practice. Conclusions are in two parts: a discussion of implications for the practice of event management and tourism, and implications are drawn for advancing theory in event tourism. r 2007 Elsevier Ltd. All rights reserved. Keywords: Event tourism; Definitions; Theory; Research 1. Introduction Events are an important motivator of tourism, and figure prominently in the development and marketing plans of most destinations. The roles and impacts of planned events within tourism have been well documented, and are of increasing importance for destination competitiveness. Yet it was only a few decades ago that ‘event tourism’ became established in both the tourism industry and in the research community,...
Words: 22067 - Pages: 89
...1 Executive Summary The Head of Ticketing must deliver a sales and marketing framework which achieves the vision of London 2012 Olympics as Everybody’s Games. It is incongruent to suppose maximum revenue and maximum attendance can both be achieved and therefore the critical problem is developing a strategy that affords the appropriate balance of emphasis to revenue or attendance. Previous host countries have had varying levels of success with their strategy and due to the unique context of the London 2012 games past approaches do not provide a definitive solution. This report utilises (model) to assess the strengths and weaknesses of the two propositions, evaluate the options for each and provide a recommended sales and marketing approach. Ultimately, the analysis identifies an attendance focused strategy will more likely achieve the vision and have longer term social benefits and revenue potential. 2 Introduction This report focuses on the responsibility of the Head of Ticketing, London Organizing Committee of the Olympic Games (LOCOG), to establish a sales and marketing strategy for the 7.9 million tickets available at the London 2012 Olympics. With the support of 70% of people in the UK, London’s Olympic bid was founded on three key aspects; firstly, the opportunity to socially and economically revitalise the disadvantaged area of East London; secondly, creating the first 100% public transport facilitated games, and ultimately, recognition of the London 2012...
Words: 3446 - Pages: 14
...According to the information in the Encarta encyclopedia, many Americans, besides me, have asthma and that number has increased dramatically in the last 20 years. “ More than 17 million Americans suffer from asthma, with nearly 5 million cases occurring in children under age 18. In the United States, asthma causes 5,500 deaths each year… Among all Americans, the prevalence of asthma increased more than 60 percent between 1982 and 1994.” (1) The management of asthma is a health issue for many people besides me. As a result of my research I have found that I can manage my asthma and live a full, active life by minimizing the effects of environmental factors that can trigger asthma episodes, following my physician’s instructions about medications and by sticking to an exercise program Numerous substances can trigger an asthma attack of coughing, wheezing, and shortness of breath. Allergens constitute the largest category of triggers (Abramowicz). According to Susan Berg, “Allergens are substances that produce an allergic reaction in people who are sensitive to them.” Common allergens are pollens from plants, animal dander, dust mites, mold and mildew (23). Dr. Anders said we would do a series of skin tests for allergies right away. If I am allergic to certain triggers, allergy shots will help by desensitizing me to them, making them less likely to trigger an episode (Anders). If I am allergic to certain pollens, I can reduce the chances of an asthma episode by...
Words: 1178 - Pages: 5
...Learning Legacy’s ‘goldmine of knowledge’ 知识的金矿kept by Cabinet Office内阁办公室 The future of an innovative industry resource designed to ensure that the lessons from the successful London 2012 construction programme are retained for other projects has been guaranteed. ODA的作用 The Olympic Delivery Authority’s (ODA) Learning Legacy website is packed with case studies and reports based around ten themes, promoting successes in areas including health and safety, sustainability, procurement, transport and project management. It comprises more than 300 papers put together by the ODA and its supply chain of companies from all over the UK, along with contributions from independent industry bodies and academics. When launched late last year, it marked the first time that a construction project in the UK had sought to capture knowledge on this scale. So far the website has been used by almost 43,000 people – with 35 per cent of visits coming from overseas. 网站赞助 Now the website will continue under the auspices of the Major Projects Authority (MPA), a partnership of the Cabinet Office, HM Treasury and other Departments with the aim of improving the delivery success rate of significant projects across central Government. 网站搬家 The relocation of the Learning Legacy website to a new permanent home from November fulfils a recommendation made by ODA Chairman Sir John Armitt in his report on London 2012’s business benefits, published before the Games began. 网站目的－保留经验 ODA director of venues...
Words: 2183 - Pages: 9
...there is nothing quite like you anywhere ells, you Dougla, Malato, spiritual freak! You African, Indian, European, chine mix up! In an interview these were the words of the great mass man describing himself as a Caribbean man. He studied at London's Central School of Art and Design and became deeply involved in West Indian theatre in England. It developed his sense of what made "good theatre, or good art and what didn't," he said. But his roots were calling! Minshall study the quotes of great fuluserfers such as Balanchine, in an interview (Carnival.com) he said that Balanchine’s quoted in his choreography that he wants the audience to be able to see the music and hear the dance he claps his hands and said “in mass that is exactly the purpose”. There is a thread, however loose, that links all mass activities together dance, music, theatre, etc. It is not only their involvement in and commitment to mass production but the simple fact that whatever their imagined rivalries they are all linked by the interconnectedness of their shared experience. Minshall’s took on his mentor George Bailey a Carnival legend and history pioneer, in 1963 Minshall was further inspire by one of Bailey’s creation Beauty in Perpetuity from the Bailey band Bats and Clowns several years latter Minshall recalls this watershed era in mass and raise the tensile town image to a true artistic art form by transforming his ideas and inspiration that paves the way to a new generation of mass. At one level...
Words: 1174 - Pages: 5
...Maynard Jackson When many think of Atlanta, Georgia they think of peaches, hot weather, and southern hospitality. So one might wonder how does a city that started off as a railroad city become home to the 1996 Olympics and the World’s Busiest Airport? Mayor Maynard Jackson played a big part in making those things happen. Through his visionary leadership, change management approach, ethical leadership & critical thinking methods, Maynard was able to transform a little southern town into a world class city. Moreover, the positive qualities of Jackson can be directly tied to my own experiences as a leader in the Air Force. Visionary Leader Born in 1938 in Dallas, Texas, Maynard Jackson was no stranger to visionary leadership. His maternal...
Words: 1881 - Pages: 8
...Miami 2020: Olympic Proposal Prepared for: International Olympic Committee 1 Olympic Plaza Colorado Springs, CO 80909-5708 Prepared by: Andrew Neely, Matthew Ori, David Schofield University of Florida Gainesville, FL 32611 April 21, 2010 Executive Summary The following is our proposal to the International Olympic Committee recommending Miami, Florida to host the 2020 Summer Olympic Games. Our team recommends Miami because of the diversity, means of safety, the existing infrastructure, and financing opportunities that Miami has to offer. Our team has found through extensive research of past Olympic Games and host cities that these are the four key areas of focus. The Olympic Games bring together people from all around the world and all the different types of people blend together to enjoy something great for two weeks every four years. Similarly, Miami does the same thing just on an everyday basis. Miami is home to people from all over the world and from all different backgrounds. The diversity in Miami has been researched and will be used as an asset to the Olympic Games. The city is already multi-linguistic which will be a major help in relieving stress when it comes to travel for the participants. Keeping this diverse group of people safe will be an issue Miami will face. The safety of the participants and fans is arguably the most important aspect the host city needs to focus on. The Miami area has been recently cutting down on crime and will continue this...
Words: 6534 - Pages: 27
