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Hosting the Olympics - Assignment Example
Hosting the Olympic Games can bring a lot of benefits for the host country. These benefits can be divided into either long term or short term ones. The short term economic benefits include fresh cash flows from the visitors who will come to the host country, officials, athletes, training activities, media activities, cultural events linked to the Olympics and the formation of an Olympic committee…
The second category is the benefit of receiving international attention through media coverage. The last long term economic benefit is related to the community; there will be formation of educational and youth programs, there will also be formation of jobs for a number of individuals in the country. Some local volunteer programs will also be formed. Thereafter, there will be formation of community development programs. All the details of both the short term and long term benefits will be examined in the subsequent portions of the essay. (Segrave, 1998)
Short term economic benefits may be defined as the total changes that will occur in terms of employment, revenue and total national output through outside investments. The first economic impact will result form the fact that the host country will be required to produce more goods and services to cater for the additional numbers. The consumers of those gods are most likely going to be the athletes themselves and their officials. There will also be international spectators and national spectators that will need to consume additional industrial products. It is a matter of fact that the event will need to be covered by media personalities both nationally and internationally. ...