Olympic Games

Economic impact of Olympic Games and other Mega Events

Olympic Games and other Mega-events such as, World Cup are the greatest sports competition in world. With the participation of all the countries of the world it is a global competition. There are many different sports and disciplines where athletes from all over the world race with each other. Olympic Games are organized once in every four years in different cities of the world. The organization of such a big event requires a huge amount of money. The Olympic Games, the biggest sports competition has its benefits with the hard practice the teams are put through. For example, they deal with the best of equipment year round, along with the count of stadiums, hotels, and many other needs for a team of athletes waiting to impress all the visitors coming from around the world. All these are done from investments put into the Olympic Games. Events such as Olympic Games need a lot of investments from the public funds. This needs a great project of money inflows that will have a positive effect in the economy, job creation and visitor spending in order to have billions of dollars incomes. In people minds it means enormous benefits. But what exactly are these economic effects, and how do they affect the quality of life of local residents?

The economic effects of Olympic Games are both positive and negative. In my opinion Olympic Games have more positive than negative effects. The positive effects on economy are the money from tourists, the creation of new jobs, and the building of a new modern infrastructure.

Visitors and tourists are a main factor in earning billions of dollars by the region which host the Olympic Games. The country that organizes the Olympics can use great international exposure which can be translated into increased visitation if marketing opportunities are developed. Visitors start to come to the region which hosts the Olympics two years in advance. This is due to games organizing activities...