Government Bidding to Host the Olympics: Economic Analysis

This report provides a comprehensive analysis of the economic, social, and environmental impacts associated with a government bidding to host the Olympic Games. It begins with an executive summary and table of contents, followed by an introduction that highlights the significance of the Olympics as a major international sporting event and the bidding process. The main body delves into the positive economic effects, such as increased tourism, job creation, infrastructure investment, and boosted exports. It also discusses the social impacts, including improved infrastructure, increased tourism spending, and community engagement. The report acknowledges the negative aspects, including the high costs of stadium construction, potential for negative publicity, security concerns, and environmental impacts. The report recommends sustainable practices, minimizing carbon footprints, and complying with legal regulations to maximize benefits and minimize challenges. The conclusion summarizes the key findings and recommends precautionary measures to reduce environmental impact. The report emphasizes the importance of long-term planning, sustainable practices, and community engagement for successful Olympic hosting.

The government is bidding to host the
Olympics

EXECUTIVE SUMMARY
From the study carried out it has been evaluated that, the national Olympic committee that
wish to host the Olympic Games focuses on selecting cities which are within their territories to
focus on putting forth bids for Olympic Games. Hosting the Olympic event is significant in
effectively attracting thousands of people for the specific duration of games in order to increase
the tourism spending. Hosting of the Olympic event boosts up of the economic growth. Reducing
carbon footprint, minimising want to use within snow making, promoting ease of friendly hotels
and introducing carbon offsets considered to be a key measures which must be taken in order to
reduce the impact of environmental pollution. Encouraging investment associated with
infrastructure and sports is another major benefit for the government to effectively host the
Olympic event. It has been recommended that, the Olympic organizers tends to mainly focus on
minimizing the effect of the Olympic event upon the environment by carrying out sustainable
practice and also reducing or offsetting the carbon emission. From the study carried out it has
been summarized that, hosting of the Olympic event tends to have high degree of positive impact
in the economy of a country because it is useful in powerfully boosting up the exports. It has
been recommended to effectively comply with the legal laws and legislations which in turn leads
to success of the event and improves the economic and social outcomes associated with the
hosting of the event.

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................2
TABLE OF CONTENTS.................................................................................................................3
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Government is bidding to host the Olympics. Analysing the various set of impact associated
to host such an event...................................................................................................................1
CONCLUSION................................................................................................................................4
Recommending ways to maximize the benefits and minimise the challenges associated with
hosting the Olympics..................................................................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
Olympics are considered to be as one of the leading international sports event which tends to
feature both winter and summer sports competition (Mitchell, and Stewart, 2015). This is the
competition where thousands of athletes from across the globe participate in various sports
competition. The national Olympic committee that wish to host the Olympic Games focuses on
selecting cities which are within their territories must effectively focus on putting forth bids for
Olympic Games. Government bidding to effectively host the business in the future tends to have
both positive as well as negative effects in the future. It mainly focuses on effectively
encouraging upon the investment within the infrastructure and transport. It is considered to be
prominent in effectively increasing the productive capacity of economy. Hosting of the Olympic
event within the city is useful in raising the profile of the city. It is considered to be highly
significant in increasing the tourism and recognition. A major sporting event like Olympics is
relevant in creating high degree of enthusiasm and also helps in increasing the excitement level
for hosting of such an event. One of the key significant drawback linked with the hosting of the
Olympics in turn mainly comprise of cost which is mainly linked with the building stadiums.
There seems to be high degree of risk linked with the potential risk of negative publicity.
Security concerns is another major negative impact linked with the hosting of the major event
such as Olympics. This study will focus on effectively analysing the various set of impact like
social factors, environmental factors, social factors and others in order to host Olympic event
which will be bid by the government. Furthermore, the present study will also recommend
significant ways to maximize the benefits and minimise the challenges associated with hosting
the Olympics.
MAIN BODY
Government is bidding to host the Olympics. Analysing the various set of impact associated to
host such an event.
Government bidding to effectively host the Olympics tends to have high degree of positive
impact upon the economy of a country. The benefits in turn are considered to be as useful for
strong unsuccessful bidders (Mitchell, and Stewart, 2015). Also, the government must also focus
on effectively going to the extraordinary lengths in order to secure the event with greater
accuracy and efficiency. One of the key encouraging investment associated with infrastructure
and sports. It is a major sports event which tends to effectively require upgrade in order to
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encourage high degree of investment within the transport and infrastructure. The investment in
turn leaves high degree of lasting legacy upon the whole economy. It is considered to be
prominent in effectively increasing the productive capacity of economy (Costs and benefits of
hosting the Olympics, 2018). Hosting the Olympic event is significant in effectively attracting
thousands of people for the specific duration of games. Also, the foreign tourists is relevant in
boosting up the economy. Major sporting event is also useful in the creation of job creation.
Olympic event tens to require high degree of investment on the building of hotels and stadium
(Brückner and Pappa, 2015). However, this eventually helps in creation of the high degree of job
for local economy. Extra jobs helps in in the creation of positive multiplier effect. Hosting of the
Olympic event leads to boosting up of the economic growth. This eventually tends to happen
because of high degree of investment and the foreign visitors. This in turn eventually leads to
high degree of tax revenues for government. Hosting of the Olympic event tends to have high
degree of positive impact in the economy of a country because it is useful in powerfully boosting
up the exports. Government bidding to effectively host the Olympics event leads to short term
economic benefit to the country where the event is hosted because it leads to injection of the
money by the foreign investors. It is also relevant in making people aware about their culture and
promote the uptake of the sports. This tends to have lasting benefit upon the health of the nation.
Hosting of the Olympic Games tends to have rippling social effect. Improvement within
the infrastructure and improving the building results in turn is considered to be as one of the
major importance which is relevant in increasing trade and increase the spending of the tourists
(Scandizzo, and Pierleoni, 2018). High degree of foreign investment is also one of the key
prominent measure in effectively improving the business performance and leads to high degree
of operational efficiency. High degree of social as well as cultural long-term benefits tends to
have a lasting impact upon the Olympic Games. It helps in creating lasting impact upon the mind
of the people for specific decade. There seems to be high degree of social measures which
positively influence the lasting impact related with the Olympic event. There is increased degree
of national level of patriotism and also athletic participation in which tends to positively
influence the social factors associated with hosting of Olympic event within a specific city.
There seems to be successful implementation associated with job training and also greater
availability of the job is of significant importance for the low income housing (Könecke. and de
Nooij, 2017). This is considered to be significant for improving the standard of living among the
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low income group where is the Olympic event has been hosted. Also, hosting of the Olympic
event leads to greater community engagement which is one of the positive social influence for
hosting of the Olympic event within the specific city. The Olympic event is significant in
effectively cutting down on the pollution by complying with the necessary laws and focus on the
creation of the recreational activity. This way it improves the success of the Olympic event.
Also, there seems to be high degree of economic, environmental and social opportunities in order
to have positive set of influence on the country where the Olympic event has been hosted.
One of the key significant drawback linked with the hosting of the Olympics event mainly
comprise of cost associated with the building of stadiums and hotels. This in turn has negative
set of influence upon the business performance. There seems to be high degree of risk linked
with the potential risk of negative publicity. It is of crucial important to reduce that degree of risk
and attain high degree of operational performance and leads to greater efficiency to carry out the
Olympic event at a greater scale (Sant and Mason, D.S., 2015). There seems to be high degree of
environmental impact which can largely influence the project as well as the building process.
Land consumptions and erosion and also loss of the vegetation is considered to be as one of the
major negative environmental factor which in turn affects the operations of the Olympic event.
High degree of carbon emission because of the increase in the transport because of the tourism in
turn is considered to be as the major reason which affect the environment by hosting the Olympic
event. Security concerns is another major negative impact linked with the hosting of the major
event such as Olympics (Lauermann, 2016). Moreover, climate change, water pollution and
deforestation are considered to be as the key biggest challenge through which environmental
influence the Olympic event. There might be high degree of irreplaceable damage which in turn
has been caused to the environment because of the hosting of the Olympic event. Rise in the
pollution, littering and garbage are considered to be as the major reason which largely influence
the event at a greater scale.
It is considered to be of key relevance importance to effectively carry out the study with
high degree of accuracy and utmost degree of efficiency. The gold, silver and the bronze medal
must be obtained from recycled plastics and the construction of road which in turn has been
made from the recycled set of material in turn are highly capable of absorbing the water and
reusing it. Eco- friendly beds must be provided to the staff and athletes (Kassens-Noor, and
Lauermann, 2018). The mattresses must be made of recyclable polythene which helps in
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ensuring and maintenance of the global and sustainable environment. There seems to be
Uneasiness associated with the high degree of environmental impact and the rising cost to build
infrastructure is one of the key major impact to host Olympic event within the city. The city’s
which tends to host the Olympic event unlikely to address issues related with sustainability
within their bid document. Environment has become one of the third pillar associated with the
movement besides culture and sports. Reducing carbon footprint, promoting ease of friendly
hotels, minimising want to use within snow making and introducing carbon offsets considered to
be a key measures which must be taken in order to reduce the impact of environmental
pollution. If the use of fuel efficient and in vehicles which are less polluting must be used in
order to reduce carbon emission within the environment where Olympic event has to be host
(MacAloon, 2016). There must be greater reduction within the use of renewable energy as well
as water recycling.
CONCLUSION
From the conducted study it has been summarized that, Olympics is the global event where
thousands of athletes from across the globe participate in various sports competition.
Government bidding to effectively host the Olympics tends to have both positive as well as
negative impact upon the country which is hosting the event. Major sporting event is also useful
in the creation of job creation. Olympic Games tends to have rippling social effect as it increases
the spending of the tourists and also helps in for improving the standard of living among the low
income group by creating more job opportunities. High degree of carbon emission because of the
increase in the transport because of the tourism in turn is considered to be as the major reason
which affect the environment by hosting the Olympic event. The government as well as the
organizers of the Olympic event must focus on taking precautionary measures to reduce carbon
emission within the environment.
Recommending ways to maximize the benefits and minimise the challenges associated with
hosting the Olympics.
 It has been recommended to improve the infrastructure outcomes. This is considered to
be prominent in increasing the business performance and efficiency. Creative marketing
in turn is considered to be of utmost importance because it is useful for the expertise team
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to come within the play (Baade, and Matheson, 2016). They must also focus on
effectively avoiding any sort of language which helps in improving and maximizing the
key benefits linked with the hosting of Olympics in an effective and efficient manner.
 Significant degree of cultural revelation is considered to be of utmost importance which
helps in boosting up the business opportunities for the local landowners, locally owned
shops and other tourist groups.
 It has been recommended to effectively comply with the necessary legal laws as well as
the key legislations which leads to high degree of success of the Olympic event and
improves the economic and social outcomes associated with the hosting of the event. It is
relevant in carrying out the event in a legal and sustainable manner which leads to
successful event in an ethical and legal manner.
 The Olympic organizers tends to mainly focus on minimizing the effect of the Olympic
event upon the environment by carrying out sustainable practice and also reducing or
offsetting the carbon emission which has been caused because of the games. The medals
in the Olympic game in turn are also made out of silver and bronze incorporated by the
recycled material. There can be direct and indirect impact of the Olympic event on the
environment and the necessary measures must be taken to maximize the benefits and
minimise the challenges associated with hosting the Olympics.
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REFERENCES
Books and Journals
Baade, R.A. and Matheson, V.A., 2016. Going for the gold: The economics of the
Olympics. Journal of Economic Perspectives, 30(2), pp.201-18.
Brückner, M. and Pappa, E., 2015. News shocks in the data: Olympic Games and their
macroeconomic effects. Journal of Money, Credit and Banking, 47(7), pp.1339-1367.
Jackson, S.J. and Dawson, M.C., 2017. IOC-state-corporate nexus: corporate diplomacy and the
Olympic coup d’état. South African Journal for Research in Sport, Physical Education and
Recreation, 39(Special edition 1: 2), pp.101-111.
Kassens-Noor, E. and Lauermann, J., 2018. Mechanisms of policy failure: Boston’s 2024
Olympic bid. Urban Studies, 55(15), pp.3369-3384.
Könecke, T. and de Nooij, M., 2017. The IOC and Olympic bids from democracies and
authoritarian regimes–A socioeconomic analysis and strategic insights. Current Issues in Sport
Science (CISS).
Lauermann, J., 2016. Boston’s Olympic bid and the evolving urban politics of event-led
development. Urban Geography, 37(2), pp.313-321.
MacAloon, J.J., 2016. Agenda 2020 and the Olympic movement. Sport in Society, 19(6), pp.767-
785.
Mitchell, H. and Stewart, M.F., 2015. What should you pay to host a party? An economic
analysis of hosting sports mega-events. Applied Economics, 47(15), pp.1550-1561.
Sant, S.L. and Mason, D.S., 2015. Framing event legacy in a prospective host city: Managing
Vancouver’s Olympic bid. Journal of Sport Management, 29(1), pp.42-56.
Scandizzo, P.L. and Pierleoni, M.R., 2018. Assessing the olympic games: The economic impact
and beyond. Journal of economic surveys, 32(3), pp.649-682.
Online
Costs and benefits of hosting the Olympics. 2018. [ONLINE]. Available through<
https://www.economicshelp.org/blog/29/sport/costs-and-benefits-of-the-olympics/>
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