Essay as to what evidence can be presented to support the debate that keeping the Olympics brings both economic and social rewards...

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What evidence may be presented to support the argument that possessing the Olympic Games brings both economic and social rewards to a region that outweigh the costs?

Content material

Introduction --------------------------------------------------------------- 3

Economic benefits (outweigh the costs) ------------------------ a few

Social benefits (outweigh the costs) ------------------------------ 5

Realization ----------------------------------------------------------------- 6

References ----------------------------------------------------------------- 8

Launch

The Olympic Games are the planet's greatest foreign sporting wedding with a large number of athletes taking part. In the the past few years, the scale of the Olympic Games designed at an worrying pace. Simply by 2012 Birmingham Olympic Games, the entrant countries were approximately 205(CRL-online, 2008). It can be quickly figured the hosting country must have substantial expenses about holding such a grand function. For example , the investment of 2012 London Olympic Games is usually ВЈ8. 77bn, which supported an estimated total contribution of ВЈ1 billion to UK GDP (Gross Domestic Product) (McHugh, 06\, p. 21). According into a ComRes vote for the BBC (2013), more than two-thirds of the UK public imagine the huge costs was a good investment and 74% would as well welcome the overall game back to Britain. In my opinion, besides the contribution to the nationwide GDP, Olympics also provide varieties of economic benefits against the costs. As an example, the rapidly development of travel followed by this kind of world's function brings a plenty of profession opportunities and saves numerous citizens via unemployment (McHugh, 2006, p. 48). Additionally , as well as the overall economy, social rewards come with the Olympic Games, just like tourism, physical environment, mental promotion, which in turn fully go beyond the costs.

Economic benefits (outweigh the costs)

First of all, the Olympic ceremony brings a great positive impact on national economic system. No one can reject that there are huge sums of money expended on the games. When the Olympics were hosted in Montreal in 1976, for example , the loss amounted to $2 billion dollars, which was $700 per Montreal resident (Henderson, 2012). And remember that that was in 1976 dollars. The recent good example is the Beijing 2008 Olympics which price 20bn, including new subway lines, a great airport terminal, a mild railway, streets and sports venues (The Guardian, 2008). The Olympic stadium, nicknamed the Bird's Nest expense ВЈ250m (ibid. ). Although the Olympics usually spends a lot of money on hosting and building the constructions and also other basic establishments, the government earn back the money via all the tickets sold, gifts and transportation etc . Additionally , the Olympics also incorporates varieties of purchase, such as the company sponsorship, which can relieve component to government's finance burden. A recent government exploration (BBC, 2013) suggests that the UK economy received a ВЈ9. 9bn enhance in transact and investment from proclaiming the Games, which has surpassed the cost of ВЈ8. 77bn in holding London 2012 Olympics. For another case, the Beijing 2008 Olympic Sponsor System had fascinated over sixty four companies, which includes both Chinese language and international enterprises (klako Group, 2008). The leading model of sports --- Adidas --- spent $180 millions and arranged a special staff to ensure that they can promote all their branding benefit as well as the more sales (ibid. ). So it is a win-win control that not the particular host town obtains the fund support but likewise the enterprises can expand their the positive effect strategy. Furthermore, from the moment the Olympics is present on the routine of the hosting country, lots of new employment opportunities occur, including waiter\waitress, recorded, telephone owner, driver and security guard and so forth For instance, taxi cab driver, which was not a inviting occupation just before 2008 Beijing Olympic Games, appeared to be more popular. As well, more telephone...

References: 1 . BBC (2012) Olympics ‘boosting' Scottish travel. Available at: http://www.bbc.co.uk/news/uk-scotland-scotland-business-16863780 (Accessed: September 27, 2013)

2 . LABELLISE BASSE CONSOMMATION (2013) London2012: UK public says ВЈ9bn Olympics worth it. Available at: http://www.bbc.co.uk/sport/0/olympics/23434844(Accessed: August 28, 2013)

3. CRL-Online国际在线(2012)奥运会带来的巨大影响. Available at: http://gb.cri.cn/27824/2012/05/25/2625s3700406.htm(Accessed: Aug 26, 2013)

4. France-24 (2008) Accurate Olympic heart found in people who come previous. Available at: http://gb.cri.cn/27824/2012/05/25/2625s3700406.htm (Accessed: September 25, 2013)

5. Klako Group (2008) Impacts with the 2008 Summertime Olympics in Beijing Offered at: http://www.klakogroup.com/en/china-invest-monthly-newsletter/impacts-of-the-2008-summer-olympics-on-beijing (Accessed: August 26, 2013)

6th. Henderson, Deb (2012) The Economics in the Olympics [Online] Available at: http://econlog.econlib.org/archives/2012/07/the_economics_o_20.html (Accessed: Sept. 2010 02, 2013)

7. McHugh, D. (2006) A Cost-Benefit Analysis of an Olympic Games [Online] Available at: http://qed.econ.queensu.ca/working_papers/papers/qed_wp_1097.pdf (Accessed: September 27, 2013)

8. Oxford Economics (2012) The Monetary Impact in the London 2012 Olympic & Paralympic Games [Online] Offered at: http://www.lloydsbankinggroup.com/media/pdfs/lbg/2012/Eco_impact_report.pdf (Accessed: August twenty seven, 2013)

on the lookout for. The Mom or dad (2008) The cost of the Beijing Olympics [Online] Available at: http://www.theguardian.com/sport/2008/jul/28/olympicgames2008.china1 (Accessed: Sept 02, 2013)

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