Olympics
1. Cost overruns
How much will they actually be and who will pay for them? In the past there were cost overruns; moreover, many of those extra costs are often hidden from the public by being shifted to other budgets. Infrastructure costs are but one example of this. It is important that a tight rein on costs be initiated from the outset and that oversight be put in place.
2. Security issues
The need to secure a huge influx of people, both the participants in the games and spectators, in a world that has seen so many terrorist attacks can lead to actions that go beyond the usual powers allotted to the police and other security personnel.
3.Infrastructure improvements
The transportation industry tends to benefit greatly from hosting the games. Even though some countries found itself in severe debt after the games, it gained new suburban rail and light rail systems along with a new international airport.
Positive Effects
By: Aishwarya Ganesh
4. The Economic Impacts of Tourists Spending
The economic effects of visitors presence at destinations arise from the fact that travelers and tourists spend their money on a wide variety of goods and services. This expenditure can be seen as an injection of financial resources into the host economy, thereby creating new levels of consumer demand.
5. Foreign Exchange
Foreign tourists change their foreign currency into the local currency to pay for their tourism experience. As a result, the host country now has more foreign currency to spend on its own needs, such as providing better medical and educational facilities, and/or stimulating general economic development etc.
Summary
Hurdles to jump
Every two years, cities around the world make bids to the International Olympic Commission (IOC) to host the Olympic Games. Originally most Olympics games, especially the Winter Olympics, were selected on the strength of being a popular place for winter sports like a ski resort. Today, cities are selected through a much more rigorous process.Whether one calls them international events, mega-events, or global media events, hosting an Olympic games is one of several strategies used by city and national governments and for image enhancement on a global stage. There are many reasons why cities and nations compete vigorously to host the Olympics Games. At the top of the list is to gain prestige and favorable world opinion. Hosts seek to be coupled with the positive image associations that the Olympic Games enjoy. However, there are some risks and rewards hosting the olympics.
It connects to the following units...
- Population/Migration
- Economic Geography