Hosting the Olympics: A Cost-Benefit Analysis of the Economic and Social Effects of the Olympic Games
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This paper attempts to provide a cost-benefit analysis of the economic and social effects of hosting the Olympic Games. I provide an overview of the economic and social impacts of the Games and analyze their effects. I focus the economic effects of the Games on tourism, trade, corporate sponsorship and the sale of television rights. I also look at the social effects of the Games on infrastructure and employment. Finally I assess why the Olympics remain an appealing venture for cities, despite evidence that demonstrates how they produce more actual harm than good for the host city. In addition, I provide predictions for two alternative directions that the Olympics could take in the future: to either continue in the current trend of immense growth and commercialization, or alternatively, implement a new Olympic bidding process that establishes stricter criteria for candidate cities.
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This paper attempts to provide a cost-benefit analysis of the economic and social effects of hosting the Olympic Games. I provide an overview of the economic and social impacts of the Games and analyze their effects. I focus the economic effects of the Games on tourism, trade, corporate sponsorship and the sale of television rights. I also look at the social effects of the Games on infrastructure and employment. Finally I assess why the Olympics remain an appealing venture for cities, despite evidence that demonstrates how they produce more actual harm than good for the host city. In addition, I provide predictions for two alternative directions that the Olympics could take in the future: to either continue in the current trend of immense growth and commercialization, or alternatively, implement a new Olympic bidding process that establishes stricter criteria for candidate cities.
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