Impact of Hosting Global Events like Olympics: Economic, Environmental, and Social Perspectives

This report analyzes the impact of hosting global events like Olympics from economic, environmental, and social perspectives. It discusses the implications on job creation, future trade, costs to taxpayers, carbon footprints, pollution, social cohesion, morale, entertainment, and regeneration opportunities. Recommendations are provided to minimize challenges and maximize benefits.

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EXECUTIVE SUMMARY
Present report is based upon impact of hosting a global event like Olympics from
different perspectives. When UK will be hosting it then it will be very important for it to analyse
all the implications. The main perspectives that are covered in this report are economic, social
and environmental. While hosting Olympics the governmental authorities will be required to
determine the positive and negative implications of it which may take place in future. When
global events are hosted by countries then it provides various economic benefits like job
creation, future trade with other countries and cost to the tax payers. The social implication of
such global events includes intangible benefits such as social cohesion, morale, entertainment
and regeneration opportunities etc. Some of the environmental implications of global events for
all the nations includes carbon foot print, pollution and sustainability. It has been recommended
to the legal authorities of the country to make sure that they are able to forecast all the negative
implications in systematic manner and take corrective actions to deal with them.

Table of Contents
EXECUTIVE SUMMARY...............................................................................................................
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Analysis of the impacts from economic perspective...................................................................1
The impacts from an environmental perspectives.......................................................................3
The impacts from a social perspectives.......................................................................................4
CONCLUSION ...............................................................................................................................4
RECOMMENDATION...................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Global event could be defined as the events that are having a limited duration and having
reach around the world (Chappelet, 2019). Apart from this, such events also require public
investment so that all of them could be conducted properly. All such types of events have impact
upon environment as well as the population. One of the main global event is Olympics and the
legal authorities is bidding to host it. There are various types of issues which may take place
while conducting it. These are negative impact upon climate and increased threat of pandemic
COVID. Apart from this, the issues which may arise while hosting the event are higher cost of
stadiums, taxes and suffering of local businesses because of major advertisers. If UK will be
considering to make a bid to host Olympics, then it may face all these issues that will be required
to be dealt by the legal authorities. There are various positive aspects of hosting such types of
events. One of the main advantage of it is economic development that includes increased
employment, higher tourism, sponsorship and broadcast revenues. Apart from this, local
economy also gets boost up with the help of global events. It also enhances the global trade and
stature of the host country. Therefore, if UK will be hosting it then it will be beneficial for it but
the issues that may arise while organising it are also required to be dealt properly.
Main aim of this report is to analyse the impact of hosting global events like Olympics.
This assignment covers impacts upon the event from different perspectives. These are economic,
social and environmental. Apart from this, recommendations related to the perspectives defined
so that the organisers can minimise challenges and maximise benefits.
MAIN BODY
While hosting a global event like Olympics it is very important for all the organisers to
make sure that they are paying attention toward various implications from different perspectives.
The main aim of this analysis is to analyse the impacts from economic, environmental and social
perspectives in global events and discussion of all of them is as follows:
Analysis of the impacts from economic perspective
Economic impacts could be defined as the assessment of the implications of an event
upon the economy. While analysing them different aspects are focused that are personal wages,
jobs, business profits and revenues (Gratton and Ramchandani, 2017). With the help of, analysis
of all the economic implications it will be very easy to determine the positive as well as negative
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effects of hosting Olympics. From economic perspective there will be various implications upon
UK when it will be hosting the event. These are job creating, future trade and costs to the tax
payer. Detailed discussion of all of them is as follows:
When Olympics will be hosted by UK then it can help to create jobs because there will be
various jobs which will be available to the individuals who are not having any employment
currently. One of the negative aspect of this benefit is that most of the jobs that will be created by
Olympic will be temporary and part time and when it will be over people again become
unemployed (Hiller and Wanner, 2019). In order to organise such types of events the legal
authorities need investment in maintaining hotels and stadiums that results in job creation for the
local individuals for up to 4 years before the event. It is a long time period in which unemployed
people can get a job and when Olympics will be over they will be having experience and at this
point of time they will be able to get new job. With the help of such type of employment positive
multiplier effect within the economy could be created.
Another impact of the event is cost to the tax payer which will be increased when
Olympics will be organised in United Kingdom. All the winners in Olympics have to pay tax to
state and federal government on the prize money which is earned by them. For example, if
participants from different countries will be participating in the Olympics in United Kingdom
then all the winners will be required to make payment of tax to the local authorities. Apart from
this, tax payers are considered as the unofficial sponsors of such types of events as the tax which
is paid by them is used by government to organise events. Apart from this, it has been announced
by the UK's legal authorities that if any type of income related to Olympics will be generated by
the individuals then it will be tax free (Economic perspectives of impacts of Olympics, 2013). It
is one of the main benefit which will be provided by the government to the local people so that
economy could be developed.
With the help of economic perspective, it could be analysed that events like Olympics
help countries to generate future trade. If UK will be hosting it then it will be beneficial for it to
maintain good relations with other countries which will increase chances of making trade in
them. Individuals from various nations will take part in Olympics which will facilitate to
maintain friendly relationships with all the other countries (Lien and Lo, 2017). When such types
of relations will be managed with other nations then it can help to remove the barriers for trade.
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With the reduction in such types of challenges will help UK to improve the economy by
exporting goods in various nations and importing other products from those countries.
From the above discussion it could be analysed that if Olympics will be hosted by UK
then it may leave positive as well as negative impact in economic perspective. It will create
employment but there is threat that the employment could be temporary. Apart from this, when
tax will be charged from winners then it will help the country to spend more on conducting
events properly.
The impacts from an environmental perspective
Environmental impacts are termed to effects that practices of population along with
organisation have on environment and one of them is carbon foot prints. Analysing perceptive
for environmental impacts of big event is important as it assists managers or organisers to
analyse and take long term measures in order to effectively manage addition to conserve
environment. As per the perspective of Manzenreiter and Horne (2016), hosting an Olympics in
UK will have various impacts on environment. While studying International Business and
Management, I analysed that events inspires around 30% enhancement in cyclists in main
London in comparison to previous year. It is estimated that during the event, around 86%
spectators will travel to event by using public transport which will reduce pollution and carbon
emission as more number of private vehicles will not be used. Also, waste generated will be
reused, recycles as well as composted. It sustains the resources and key inputs of environment as
while hosting big events, organisers pays attention towards preserve, embracing together with
promoting clean green United Kingdom via ensuring that an event is environmentally
responsible (Wan and Song, 2019).
At same time, it is determined that hosting big event in any nation results in various
environmental impacts in terms of sustainability. In context to global events, to organise games
various kinds of technological innovations are taken into consideration to develop greenery at
locality. Sustainable environmental growth helps is dealing with effects of climatic changes
and other environmental related factors resulting in positive impacts. Moreover, impacts of
hosting mega event on specific region or city can be massive. Deforestation, changes in climate
and so on are on place that are some of effects that can increase because of planning, arranging
and hosting a big event like Olympics in United Kingdom. It is also perceived that hosting an
environmentally responsible event impacts positively on environment as it assists enhancement
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of relationships among stakeholders and customers, inspires behavioural changes, fosters
technological innovation, improve environmental awareness and standards of experiences of
attendees that is efficient recycling system as well as efficient waste reduction policies reduces
amount of wastage at event.
The impacts from a social perspective
Social impact refers to a significant addition to change which addresses pressing social
issues. It defines the ways actions or activities of organisations, people and businesses affects
surroundings of community. According to perspective of Perić and Vitezić (2019), it can be said
that social impacts are complexities or issues that affect the community. While planning to host
big event, for example, Olympics, it is important to carefully consider the impacts of hosting an
event on society. One of positive social impacts is intangible benefits as hosting a big event
opens for for huge benefits in the hosting society. . Moreover,it will improve social cohesion and
motivate citizen to involve or participate in the activities within society. Hosting an event also
develops current resources in the community. It improves moral of people as their ideas and
thoughts are taken into consideration when planning and hosting the event. Various
entertainment facilities including opening ceremony, dances, games and so on are arranged for
the society that leads to positive impacts (Vierhaus, 2019).
It is also analysed that hosting an event have various positive impacts on society and one
is regeneration of opportunities. Events are strong platforms and when these are planned and
host well that generates huge opportunities for population of society. These are planned and
hosted with main objective of providing social impacts for local boundaries with which they are
organised. It regenerates opportunities through developing infrastructure, improvising skills and
potentials of residents of community, enhancing spirit of residents, fostering sense of pride
together with location, united families and facilitates creation of vision for locality which they do
not have prior. Hosting an event will develop and improve communication together with social
networks in the community. Furthermore, it is analysed that hosting a big event have multiple
positive social impacts on local citizens of the town as well as villages in UK (O'Mahony,
2017.).
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CONCLUSION
From the analysis, it is concluded that global event is said to overseas communication
happening that is organised and hosted for connecting people along with brands with the power
of live events. It is an ethical structure of shared frames that are organised for dominating
economic, social and environmental interests. Different people have different perspectives for
impacts of hosting event at particular location on society, environment and economy. The
economic impacts comprise of creating jobs and facilitating future trade. This kind of impact
includes total quantity of additional expenses that are generated in defined area as direct
consequences related to staging the event. At same time, from environmental perspectives,
hosting an event impacts on sustainability and carbon footprints. Moreover, social impacts are
regeneration of opportunities and multiple intangible benefits such as entertainment, social
cohesion along with improves morale of residents.
RECOMMENDATION
Hosting an event leads to various negative and positive impacts on environment, society
and economy (Wood and Meng, 2020). it is important to reduce negative impacts on society,
economy and others as well as foster positive impacts while hosting an event. For the purpose of
maximising advantages or minimising challenges related to hosting big event that is
 Reduce, reuse and recycle: The reduce negative environmental impacts, political system
or organising committee of the event in UK is recommended to follow the mantra that is
reduce, reuse and recycle (Del Vecchio. and Et. Al., 2018). For the purpose of
maximising benefits or reducing challenges concerned with hosting Olympics, organisers
must start with as well as prioritise reductions on material or waste outputs as well as
resource inputs that are reducing waste which are going out along with using non-
renewable energy inputs.
 Corporate social responsibility: For the purpose of reducing negative social impacts,
organisers of Olympics are recommended to adopt Corporate social responsibility and
contribute in development of society even in pandemic situation (Hunt, 2017). To
maximise benefits, organisers are suggested to follow mantra of social distancing and
foster participation of local residents in the event.
 Hire local residents and grab attention of foreign investors: For minimising
challenges of economic impacts of hosting an event, organisers of Olympics are
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recommended to hire residents as employees and attract foreign investors in the event by
offering attractive investment packages, providing high returns of investment and many
more (Đurkin and Perić, 2017). Also, the organisers can arrange postponing tax payments
without interests, lowering port taxes, providing B2B employee sharing platform and
lower fees for various entrepreneurial services. The organiser can also cooperate with
other businesses for minimising the challenges.
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REFERENCES
Books and Journals:
Chappelet, J. L., 2019. Beyond Legacy: Assessing Olympic Games Performance. Journal of
Global Sport Management. 4(3). pp.236-256.
Del Vecchio. and Et. Al., 2018. Big data for open innovation in SMEs and large corporations:
Trends, opportunities, and challenges. Creativity and Innovation Management. 27(1).
pp.6-22.
Đurkin, J. and Perić, M., 2017. Organising for community-based tourism: Comparing attitudes of
local residents and local tourism entrepreneurs in Ravna Gora, Croatia. Local Economy.
32(7). pp.678-691.
Gratton, C. and Ramchandani, G., 2017. 7 Economic legacy to cities of hosting major sports
events. Legacies and Mega Events: Fact or Fairy Tales?.
Hiller, H. H. and Wanner, R. A., 2019. The Olympics as an urban policy choice: post-games
assessments of economic value by host city residents. Journal of Urban Affairs. 41(8).
pp.1205-1224.
Hunt, S.D., 2017. Strategic marketing, sustainability, the triple bottom line, and resource-
advantage (RA) theory: Securing the foundations of strategic marketing theory and
research. AMS Review. 7(1-2). pp.52-66.
Lien, D. and Lo, M., 2017. Economic impacts of cultural institutes. The Quarterly Review of
Economics and Finance. 64. pp.12-21.
Manzenreiter, W. and Horne, J., 2016. SOCIO-ECONOMIC IMPACTS OF SPORTS MEGA-
EVENTS. Critical Issues in Global Sport Management. p.128.
Overmyer, M. P., 2017. Economic impact analysis on olympic host-cities.
Perić, M. and Vitezić, V., 2019. Socio-Economic Impacts of Event Failure: The Case of a
Cancelled International Cycling Race. Sustainability. 11(18). p.5028.
Vierhaus, C., 2019. The international tourism effect of hosting the Olympic Games and the FIFA
World Cup. Tourism Economics. 25(7). pp.1009-1028.
Wan, S. K. and Song, H., 2019. Economic impact assessment of mega-events in the united
kingdom and brazil. Journal of Hospitality & Tourism Research. 43(7). pp.1044-1067.
Wood, J. and Meng, S., 2020. The economic impacts of the 2018 Winter Olympics. Tourism
Economics, p.1354816620921577.
Online
Economic perspectives of impacts of Olympics. 2013. [Online]. Available through:
<https://link.springer.com/article/10.1007/s40318-013-0005-5>
O'Mahony. S., 2017. Social impacts of events. [Online]. Available through:
<https://www.cuckoo.ie/blog/event-related/social-impact-events.html>
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