OLYMPICS AND ECONOMY

Olympics and Economy



Olympics and Economy

Olympics

The Olympic Games or Olympics are events sports multidisciplinary involving athletes from around the world, in ancient Greece were dedicated to the God Zeus. There are two types of Olympic Games: the Summer Olympics and Winter Olympics, performed with an interval, including four years. The organization responsible for conducting them is the International Olympic Committee (for short, COI).

The current Olympic Games were inspired by the seventeenth century organized by the ancient Greeks in the city of Olympia, between 776 A. C. and 393 D. C. In the nineteenth century, the idea to make some events similar to those organized in antiquity, which mentally materialize thanks to the efforts of the noble Frenchman Pierre Fredy, Baron de Coubertin . The first edition of the so-called Olympics of the modern era held in Athens, capital of Greece . Since that time, the Summer Olympics were held every four years in various parts of the planet, the only exceptions being the editions of 1916, 1940 and 1944, due to the outbreak of the First and Second World War.

Olympics and Host Country Economy

Estimation of economic values Olympic Games host city, region and country become an important aspect of the overall assessment cost or the cost of the Olympics. It is vital that the host city and the organization Committee in the host city are aware of the magnitude economic benefits from hosting the game can bring. This allows games to be offered in the local context significant benefits to the local economy. In addition to providing the committee with the scale benefits, so you can better understand. How large the costs of bidding and hosting games should be. The budget of the organizers of the Games is very narrow definition of economic benefits from hosting the Olympics broad economic implications of the Olympic Games, which includes the effects of visitors games to the local economy through spending in the host city, the benefits of targeted investments in infrastructure in disadvantaged areas and benefits of long-term "legacy" that the more influence the international media due to the increase of tourists and makes tourism revenue in subsequent years (and earlier) from the game (Veraros, Kasimati & Dawson, 2004). The combination of these effects is very complex and cannot be determined only after the financial results of the organizers of the game or the additional revenue that the Olympics bring to the host city.

Local companies were promoted owned by local government and strove to utilize the maximum possible innovations technology to benefit the complex range of services that the city could provide their more than a million and half people (dealing with urban waste, purifying water, keeping the beaches clean, etc). In short, a company created to promote economic support and for operations management in the city most needed: equipping the city with a system cable, a communications tower, promoting the development of a recreation center, designing and making public facilities, etc. As a major city, although not capital, Stratford has always been in need of major international events to invest in improvements, in infrastructure. Without this excuse and without help from the Central Government, the city could hardly have kept the hope of financing these operations. Although they had many goals in game to ensure that ...