StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Politicians Justify Spending on the London Olympic Games as Being Good for the Economy - Essay Example

Comments (0) Cite this document
Summary
Politicians justify spending on the London Olympic Games as “being good for the economy”. Explain their reasoning. Introduction Summer this year in London will see the opening of the XXX Games of the Olympiad. The games are set to start on the 27th of July to the 12th of August and will mark the third time that the city will host the games…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.7% of users find it useful
Politicians Justify Spending on the London Olympic Games as Being Good for the Economy
Read Text Preview

Extract of sample "Politicians Justify Spending on the London Olympic Games as Being Good for the Economy"

Download file to see previous pages With the onset of the games, government officials are declaring that the games would be good for the economy and justify spending because of the benefits which the games can bring to the city and the country in general. This paper shall explain the various justifications being made for the spending on the London Olympic Games. Body In general, the Olympic Games is a major sports event which has a significant scale and can potentially bring about economic developments for the host city or for the host country as a whole. The games usually unfolds for a few weeks only however, the preparations for the games usually takes place months, even years before the event and would require considerable investments from the government and the private sector. Its impact on the economy soon after the games can also be significant and sustainable for years after the event (Pricewaterhouse Coopers, 2004). This potential can also be seen with the London Olympics. The exact economic impact of the Olympic Games to the host country or city is spread out over years and is seen in three stages – before, during, and after the games. ...
During the games, economic activities within the city would also increase through the tourists and through the athletes attending the games. Finally, after the games, the Olympic legacy potentially would keep drawing in more tourists and investors because of the infrastructures and the other attraction which the city can now offer (Pricewaterhouse Coopers, 2004). Tourism is one of the major benefits of the Olympics, one which can be seen before, during, and after the games. The Olympics provide a special avenue which draws local and foreign tourists to the city. Visitors who are involved in the games, including the athletes, coaches, and other team officials, as well as the spectators, media, and sponsors are to be accommodated within the city (Booth, 2009). The promotion of the games would also draw in the tourists due to the media exposure and enhanced international reputation. The visitors would start to trickle in within a few months from the games and would swell to bigger numbers during the games. Therefore, the Olympics can sustain the city’s economy for several years after the Games (London Development Agency, 2008). Tourists can increase demands on the regional and local economy with visitors spending money on food, accommodations, transportation, and tickets for the Games. The revenues from the media broadcast and sponsors will also accrue to the city; and the IOC would generally profit from these revenues (Pricewaterhouse Coopers, 2004). Secondary effects would also be seen with money being spent within the host country. This is known as the multiplier effect where additional activities and employment opportunities related to the games are made ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Politicians Justify Spending on the London Olympic Games as Being Good Essay”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1443214-politicians-justify-spending-on-the-london-olympic
(Politicians Justify Spending on the London Olympic Games As Being Good Essay)
https://studentshare.org/macro-microeconomics/1443214-politicians-justify-spending-on-the-london-olympic.
“Politicians Justify Spending on the London Olympic Games As Being Good Essay”, n.d. https://studentshare.org/macro-microeconomics/1443214-politicians-justify-spending-on-the-london-olympic.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Politicians Justify Spending on the London Olympic Games as Being Good for the Economy

The Olympics in London 2012

With transportation advancements over the ages, people can attend the Olympics more quickly and inexpensively than at any other time. Millions of spectators come from across the globe simply to watch the games. Of course, this event requires much attention and high-level preparation which includes many complicated details.

It is a fact that London has been announced as the host city for the landmark 30th Olympics in 2012, beating out Paris, New York, and Moscow. That makes London the only city to host the Olympics three times (1908, 1948 and 2012). Considering the tremendous tourist attractions and historical monuments already located in London, the addition of the Olympics in 2012 will only heighten what would be a phe...
13 Pages (3250 words) Assignment

Pressure Group Have Too Much Access to Politicians

They are financed, at least partially, by taxes and/or contribution based on some measure of the ability to pay, and some or all of their services are distributed on the basis of need rather than effective demand” (p. 2).

Angelica (2004), on the contrary, says that nonprofit organizations are financially dependent on government grants and contributions from individuals and corporations. Through collaboration, nonprofit organizations are now becoming more business-like. Although they have the status of nonprofit that provides the most services at the least possible price (Shim & Siegel, 1997), they operate in a business-like manner as said by Nadder. But they still have some distinction from the for-profit ente...
13 Pages (3250 words) Literature review

The Importance of Tourism to the World Economy

Since the eighties, perceived risk research has been of ongoing interest to tourism researchers, Dolnicar (2005) and Dickson, Chapman, and Hurrell (2000)  states. Contributions often include those which investigate positive risk as a factor in increasing tourists who are seeking a thrill. On the other hand, there are also those who view these risks as something negative, thus avoiding the destinations which are haunted by different risks such as diseases, terrorism and other forms of political instability (Dickson & Tugwell, 2000).

The current qualitative research inquired about the risks perceived by young people as regards both domestic and international traveling. A sample of 23 was interviewed for this purp...
15 Pages (3750 words) Research Paper

Maternal Employment and Child Well-Being

Through the course of history, it can be observed that the role of the female members of the population is continuously being leveled to that of the male, thus, in terms of the number of employees and organizational positions that are being held by women, the change is evident.  It can be considered that upon the achievement of the women to have equal opportunity to work and excel in the career of choice, the number of labor participation had increased. To be able to determine and present the objectives of the study, it is important to consider different issues that are related to the topic at hand. The main basis of the said notion is on the basis of different reasons such as in terms of the economic, family and social aspec...
12 Pages (3000 words) Literature review

The Nature of Man: Is Man Good

Augustine will commence. The moderator will be the one to facilitate the discussion for orderly and systematic flow.
Moderator: A pleasant day to all. We are gathered here today to witness the exchange of constructive arguments between two delegates. The first one on my right is a follower of the great political thinker, Aristotle. The one on my left is a passionate believer of St. Augustine. As we all know, Aristotle existed during the Ancient Period while St. Augustine lived in the Medieval Period. Both thinkers have been recognized as the great philosophers who have ever lived.
Before we begin the intellectual exchange of ideas and statements, I will brief you on what is the topic to be touched on. The situation is de...
10 Pages (2500 words) Assignment

Do Violent Video Games Affect Behaviour

Video games are all kinds that are famous between children and adolescents on the basis of their usage of enhanced technology and diversity. People have shown interest in all kinds of video games and violent games are one of them (Anderson, Gentile and Buckley 2007). Gentile and Anderson inform in their work, “Violent Video Games: The Effects on Youth and Public Policy Implications” that parents pay a little attention to children’s usage of violent video games. According to them, the parents stop their children to stay away from all kinds of violence but their attitude towards the violence in media and video games is negligible (Gentile and Anderson 2006).
Freedman informs in his article, “Evaluating t...
7 Pages (1750 words) Assignment

Change in the History of London

London was founded by the Romans and became the center of trade in the new Roman province of Britannia. The beginnings of London can be dated with some exactitude to the invasion of the Romans in 43AD. Prior to the Roman invasion, there was no permanent settlement of significance on the site of London. Instead, the Thames River flowed through marshy ground sprinkled with small islands of gravel and sand. There were probably more mosquitoes than people inhabiting the area. (London History - Roman London). Londinium was established as a civilian town by the Romans about seven years after the invasion in AD 43. Roman London occupied only a small area. During the 2nd century, Londinium has replaced Colchester as the capital of Roman B...
11 Pages (2750 words) Report

Business Communication for Degree Access: Olympic Volunteering Consultancy

The London Organising Committee for 2012 is headed by Lord Coe but we would need to contact the Minister for the Olympics who is Tessa Jowell to place the Bid. The Olympic Games are said to need 70,000 employees with large land development in London.

To beat out the competitors with an excellent business strategy (Wikipedia) an excellent marketing strategy must be used! 26,400 pounds, of the 1 million pounds on Flyers and radio ads this company can inform the residents of Greenwich of the career training opportunity. Using Radio ads that are up to date we can gain a young volunteer base. Flyers handed out to community centers and welfare offices this company will gain other targeted volunteers.

The Census Bur...
6 Pages (1500 words) Assignment

Effect of Corporations Moving Jobs Overseas on the Economy

The issue comes into focus, whenever there are political, economic debates or talks about H1B visa limits. The economic slowdown has further led to the intensification of these debates. But, despite apprehensions from different quarters, neither the companies nor the government has said a final word on the trend. Increasing levels of competition amongst the corporate houses have been one of the key highlights of the globalization era. Be it the retail sector, the banking, the automobile, the IT-enabled services, the white goods space, etc. the companies have always been on the lookout for reaching out to more number of customers while doing everything possible to please the existing lot. Leveraging the economies of scale has prove...
8 Pages (2000 words) Coursework

Immoral Activities in Video Games

There arose a large number of studies showing that video games have a negative effect on the behavior of children, and the alleged range of misbehaviors includes lack of respect, lack of sympathy, laziness, to mention but a few. Along with this, there arose the claim that it is highly dangerous to let the children roam free in the virtual world because of the apparent lack of morality seen in video games. Like any other topic of public concern, this claim met with an equally strong opposition alleging that detaching children from video games is like not traveling on roads for fear of accidents.
This work aims to argue that elements like social conformity, social learning, and social reward are the factors that compel a person...
6 Pages (1500 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Politicians Justify Spending on the London Olympic Games as Being Good for the Economy for FREE!

Contact Us