Acknowledgement
I would like to thank God Almighty for giving me privilege, wisdom and strength to complete this literature project. I would also like to express my gratitude to my parents and guardians for their moral, emotional and financial support, throughout my degree. I would also like to thank my Pastor, Mrs. Joke Alake for her indirect moral and spiritual support. Lastly I would like to appreciate my Tutor Gary Mason for his support; guidance and encouragement that helped me get through this collar coaster ride.
Abstracts
The potential economic impact of hosting the Olympics is very newsworthy, and receives a lot of attention in the press and other media at a local, national and international level.
The current economic downturn has placed the issue in even greater focus, as pressure on government spending, and jobs, intensifies. But perhaps it's all too easy to get carried away by the tide of headlines and lose sight of the underlying evidence. (British Library, 2009)
This project explores aspects of London 2012 Olympics which will be held in East London with its main focus on economic impacts in East London. The driver for this study is to determine how the economic impacts will affect UKs economy and in terms of tourism.
Introduction to Study
Mega sports events are not a new phenomenon as they can be followed back to the Olympics of Ancient Greece. Now, however, there is an increased worldwide interest in both mega events and mega sports events as a direct effect of high income and more leisure time devoted to these activities.
Greg Adranovich et al. (2001) argue that a new and potentially high-risk strategy for stimulating local economic growth has emerged. They see the reason for this, as competition among cities on jobs and capital at a global scale. They define the mega events strategy as a competition on high-profile events that can serve as a stimulus to, and as a justification for...
