The Positive Impact Of Olympic Economics Essay

The Positive tinct Of surpassing Economics renderThe birthplace of Ancient surpassing Games is Ancient Greece which is called as the surpassing festival and it was held e precise four years. Due to the sacrifices of animals were made, a number of the sport competitions occurred which include stadium race, boxing, wrestling, horse riding events and pentathlon such as running, jumping, discus, javelin and wrestling. The winners of the competition were laurelled wreath of wild olive and excessively get great reward. all the Greeks were being allowed to enter into the competition except for the slaves and barbarians. The ancient exceptional fete was continued until the end of Greek Empire over two pace years ago. (Technology Student, 2004)Baron Pierre de Coubertin which is the founder of the modern surpassing Games, tell that the intimately chief(prenominal) of exceeding Games is to take part in scarce not to win, as the most important things in life is dispute but not v ictory. The first modern prodigious Games were held in capital of Greece in 1896 which has been chosen as recognition of Greek Festival. Its purpose is to pass water games in aim to ensure that raft around the conception would postulate and meet in friendly atmosphere. The meaning of the modern exceeding is the suspensor from each rude takes an oath In the name of all competitors, I promise that we shall take part in these majestic Games, respecting and abiding by the rules which govern them, in the true nerve of sportsmanship, for the glory of sport and the honor of our teams at the rudeing of the ceremony. The aim of exceptional movement is the goal of the exceptional driveway is to contribute to building a peaceful and better human race by educating youth through sport practiced without discrimination of all kind and in the exceptional spirit, which requires mutual understanding with a spirit of friendship, solidarity and fair play. The head office of the Inter bailiwick Olympic Committee (IOC) is turn up in Lausanne and Switzerland in mold to manage and control the Olympic Movement and the members are from all around the world. The motto of Olympic is called Citius, Altius and Fortius in Latin which means faster, higher and stronger or braver. (Technology Student, 2004)The Objective of OlympicThe objective of Olympic is strived to promote Olympic Games which meets the standards of sustainable development and also respect the environment. The Olympic Games are to promote sustainable development in sports and needs. likewise that, the Olympic Games also promotes coercive legacy to the military cities to the Host countries. (Wiki Answers, 2013)Positive Impact of Olympic anyhow being a sport, Olympics also affect stage business and swarming countries which are businesses can gain from Olympic such as change magnitude sales, advertisements and reputation through sponsorships. All the companies, sponsorships and investors of the wor ld are focused on Olympics Games in order to help all the business to farmth sales. Hosting the Olympic Games can bring many benefits for the host solid ground which can be divided into either perfectly term or long term. The short term of scotch benefits including of the fresh cash flow from the visitors who visit the host rustic, athletes, officials, training activities, cultural events and media activities linked to the Olympics and the formation of Olympic committee. in that respect start out three major categories of long term frugal benefits for hosting Olympic Games which are including the creation of infrastructure is come intimatelying the global standards, the concern of the international community of interests through media and related to the community. (Globalrp economic system Issue, 2013)Short term economic benefits are likely as the total changes that occur in terms of revenue, concern and total national output through foreign coronations. The first nat ional economic squeeze leave al whizing lead to the fact that the host land exit be required to produce more services and goods. Therefore, the goods will be consumed to the athletes and the official themselves. The international visitors will need to consume the industrial products. Besides that, that Olympic also include of media personalities of nationally and internationally and these groups will also need to consume goods and services by the host solid ground. There will be also many sponsors participate in Olympic Games and they will also required to consume the commodities. Therefore, the total amount of superfluous revenue will come from the sales of production of goods by the host country and the above mentioned groups will form a huge of develop economic benefits from the hosting Olympic country. (Globalrp Economy Issue, 2013) some other short term of compulsive impingement of Olympic is some tourists may be interested when seeing the host countys website during the Olympic Games and after. Therefore, there will be banging amounts of revenues from those visitors. look indicated that hosting Olympic country can earn 823 dollars from visitors who visit or approach path the host country within the first twenty days introductory of Olympics and twenty days after the Olympic. (Globalrp Economy Issue, 2013)In addition, the decreed impact of Olympic is providing profession opportunities or exercise. We should not be underestimates the level of creating the involvement opportunities from the host country. In fact, an economic estimate in Atlanta, Georgia which is a state that organized the Olympic), the result shows that about seventy seven thousands of employment opportunities were been created. The hotel industry and lodging take up the largest part of creating the job opportunities. Besides that, the food industry such as bars also provides job opportunities. Additionally, the construction sector also will be provided jobs since there w ill be additional infrastructure such as new buildings. (Globalrp Economy Issue, 2013)The long term economic benefits from hosting the Olympic Games can be as legacy of host country. The first legacy will be considered of facilities reinforced specifically for Olympics. After the Olympic Games, the facilities can be continuing operating theater for many years. The host country needs to build a trespass level of Stadium in order to meet the international standards. In fact, Georgia was hosting the Olympic Games in year 1996 and the stadium was costing them roughly 189 gazillion US dollars which is consider as quite good investment since the rate of return greater than investments. (Globalrp Economy Issue, 2013)Another important verificatory impact is the fact of hosting the Olympics will be exposure for the host country through excessive media and the hosting country will be able to seen by the World. Therefore, their strengths will be reflected in their marketing efforts and th is will greatly plus their touristry industry the next few years. Additionally, there will be also exposure in business aspects in order to thread investors come and invest in host country. (Globalrp Economy Issue, 2013)As a host country, London Olympic Games was the worlds hottest spot in 2012. Olympic is an important and massive event that a collection of athletes, media, visitors and politicians from all around the world which is definitely a prestigious role city. fit in to London, the Olympic Games provided positive impact to the larger businesses in London although there is not reach the extent that had anticipated. But harmonize to the survey of 100 large companies by Deloitte which is the official professional services provider to London 2012. Since the beginning of the Olympic Games, 42% of companies reported that an increase in demand and 77% of retailers increase in demand from the new customers. This result preparation and planning was paying off. Naturally, the grea test advantage is the increasing in Tourism industry. According to London, it was been attracted roughly 300,000 of foreigners and also about 5.5 million day trippers during Olympic Games. (The Consultant Eu, 2013)Another fact was according to Beijing China in 2008, the number of visitors or tourists were rising rapidly. This result shows that Olympic brings the host country to increase the visibility. According to Chen Jian who is the president of Beijing Olympic Economic Research connecter was estimated that Beijing was received about 600000 foreign visitors and 2.5 million from Chinas domestic tourists during the Olympic Games along with the number of foreign visitors in Beijing will grow 8% to 9% annually. Besides that, a foreign country school-age child who studying in Beijing was experienced the craze of Olympic summertime by the changements in infrastructures and commercial services during the Olympic Opening Ceremony. In addition, the number of hotels in Beijing has also increasing in the new-fangled years. That is because since China was entered the WTO and won the Olympic bid, therefore the country was reduced the hotel ownership restrictions. Furthermore, the recruitment in Beijing Olympic sponsors, partners, suppliers and others companies also wants to take the benefits of the Olympic buzz in Beijing in order to contribute in increasing of advertisement. (Business Today, 2013)The third fact was according to Sydney Olympic Games in 2000 were praised as the best Olympic Games because Sydney not only did achievements on improving the environment, improve urban construction, promote the development of transportation, literal estate and tourism, but it also promote the host citys international reputation. Sydney brought a considerable sum of win and motivated promote the follow-up industrial development of tourism, transportation and real estate. Especially, it brought the huge number of direct revenues about 2,605 million US dollars which is th e most profitable in Olympic Games. Additionally, it stimulated about 500 thousands tourists. (Bitstream, 2013) oppose Impact of OlympicThe Olympics prestige not only goes along with economic benefits, it also does in downfalls and material risks which should not be ignored. Therefore, hosting the Olympic Games is very important to the hosting country. To host the Olympic Games is a huge responsible for the country or city due to having a huge risk because the hosting country invested a large amount of cash in the games but they do not know about how many visitors coming for the Games. Therefore, they are risking funds without having a backup plan if there is less visitors in the Games. The Olympic Games also will influence the population of the city about one or two months. The city will be crowded of duty and interrupt the daily of the citizens due to many visitors. Besides that, when the country hosting the Olympic Games, everything mustiness be near perfect such as the pat h must be clean and in good condition, the stadium must be neat, the hotels must have sufficient reservations for the visitors. This is all about money. However, the money from the visitors or tourists is not enough to support the wastage. Therefore, the country invests a large sum of money in order to keep the city or country clean and well present during the Olympic Games. If any task occurs during the Olympic Games, the country has to waste money to fix it.Hosting Olympic Games brings disadvantages to the hosting country especially for poor countries because waste of resources with could for used for the welfare of citizens, corruptions, benefits to go to people in power and business but the poor suffer. Therefore, hosting Olympic Games are waste of resource and money. The money should used for more important things such as improving infrastructure, curing malaria and providing proper education for children and adults from poorer countries. A divide of money are spend on Olympi c Games just to abide athletes participate in the Games, but the money can actually gift to the charities in order to helping people in the world. (Debate, 2013)Besides that, some other oppose impact is social impacts which are cumulative and a broad range of over space and time. Olympic Games may change the significant and the impact assessment become complicating due to the long lead times, dimension and natural of the event. The changes will affect the increasing in congestion, evictions, increasing in prices such as increasing in land rental value.The ostracize effect of Olympic Games comes from expenditures on transports infrastructure, facilities, housing, safety measures and maintenance in order to meet the requirements or demands of the International Olympic Committee and also to instill to the public. According in London, the total work out comes up to 9.325 billion. This result estimates that the be of Olympic Games are difficult tasks. This was result in the fin al budget was exceeded by 5.906 billion of the projected budget from the bid in November 2004. Besides that, the expenditure of security had to double. At the same time, there has been twelve crook rises in the management fees by UK Parliament. Therefore, it has been claimed that spending is higher than expected which has been exceeded the positive impacts on economy of unify Kingdom. (Merar, 2010-2013)Evidence was in Athens Olympic Games in 2004 was failed to motivate the economic growths due to lack of publicity or promotion and a large number of expenditures. According to Wang and Chen who express about the large amount of expenditure was about 12 million US dollars which is a big debt will be paid for about 10 years. The amount of expenditure was more than double of the budget. Besides that, the Olympic gymnasiums and facilities were not invested until 2000. Therefore the postponed construction led to large amount of be and inefficiency. This result shows that Olympic Games indeed have a significant impact on the economic development of the host cities. (Bitstream, 2013)Besides that, evidence was showed that the United State government was investigated the BHP Billiton Ltd which is the world top mining company realistic of corrupt practices and it was being one of the sponsorship of Beijing Olympics Games 2008. According to Fairfax reported that amid 2000 until 2008, BHP Billiton Ltd spent millions of dollars on sponsorship deal of Olympic Games.ConclusionAs a conclusion, I would like to conclude that Olympic Games bring positive impacts and negative impacts to the hosting country that result show the Olympic Games are more than a sport because there are included in cultural, political and economic phenomena. Particularly interest to see Olympic as a tourism attraction, marketing opportunity, media event, the catalyst for urban renewal and development and also was the consumption for youth and generating a force for peace and understanding of intern ational as well. In fact, it can be said that there value-added, non mainly on sporting, roles which makes Olympic Games becomes unique at the international level and in order to continued survive probably depends on their continuing to play these roles. For example, according to Sir Roger Bannister (1988) who is the Olympic athlete first man to run a mile within four minutes and later became British amuse Minister was discussing about Olympic Games will moves towards the changes but still stick the greatest hopes of the world. Besides that, Olympic is in the deepest interests of the world of the future for them to be continuing. (Google Books)Furthermore, Olympic Games are much more than a show, the games are open to the world and the entire country has the opportunity to take part in numerous activities such as the marching of the flame throughout the country, cultural activities, educational projects and local volunteer services.