Nobody downloaded yet

Monaco grand prix economic impacts - Essay Example

Comments (0) Cite this document
Summary
It is definitely exceptional and glamorous to host the event. Hosing on of Formula 1 mega event is a significant experience of modernity…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.8% of users find it useful
Monaco grand prix economic impacts
Read TextPreview

Extract of sample "Monaco grand prix economic impacts"

Download file to see previous pages They are typically organized by variable combination of national governmental and international non-governmental organizations (Sylt and Reid, 2010).”
The Monaco Grand prix has great economical impacts; first and foremost it leads to technological development of mass communication especially satellite television. This development means that revenues from television to host the events increase overwhelmingly. The television rights are sold very highly like the rights to host Olympic games in 2000 in Sidney was over US$1 billion (Sylt and Reid, 2010). There is also a lot of corporate sponsorship which provide huge sums of money to the host countries.
The event is also useful in marketing products and showcasing various country attractions hence attracting tourism and foreign investments. This event is one of the most significant events ready to transform the country. This leads to an increase in the volumes of tourists who come to the event for various reasons (Sharkey, 2011). In return, the huge visitor or tourist volumes increase the revenue received from the tourist and hence boosts the local trade.
To host such an event, a lot of marketing and publicity has to be done, this leads to the host country being known world wide and having a positive image which in return boost tourism even during the non pick periods (Sharkey, 2011). Hosting such a mega event gives the host country a chance to be put on the world map, by providing significant exposure to the world. They serve as a platform to show the cultural, economical and political power of the host. By hosting such a significant event it shows that the country has entered the international scene as a major figure. This has been the case for countries like Singapole, Japan which hosted the 2002 FIFA World Cup, South Korea etc which little was known about them but after hosting sporting events their economies emerged and the political status became known ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Monaco grand prix economic impacts Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Monaco grand prix economic impacts Essay Example | Topics and Well Written Essays - 1250 words. Retrieved from https://studentshare.org/miscellaneous/1618317-monaco-grand-prix-economic-impacts
(Monaco Grand Prix Economic Impacts Essay Example | Topics and Well Written Essays - 1250 Words)
Monaco Grand Prix Economic Impacts Essay Example | Topics and Well Written Essays - 1250 Words. https://studentshare.org/miscellaneous/1618317-monaco-grand-prix-economic-impacts.
“Monaco Grand Prix Economic Impacts Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/miscellaneous/1618317-monaco-grand-prix-economic-impacts.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Monaco grand prix economic impacts

The economic impacts of the Internet

...?Running Head: THE ECONOMIC IMPACTS OF THE INTERNET The Economic Impacts of The Internet It is a known factthat innovations of any kind are made with the view of progressing mankind in any way possible. It is man’s inquisitive nature along with man’s need for a better future and more convenient lifestyle that paves the way for innovations in every field. It has been seen that innovations have a two way relationship with the economy of a nation. Innovations contribute towards high level of productivity and growth which leads to economic growth. On the other hand economic activities of a country contribute towards innovative activities. In...
10 Pages(2500 words)Research Paper

Economic impacts of gambling

...in the process. Overall, the research literature is undecided on the topic of positive or negative impact of casinos and other gambling institutions in the context of local economies. Many studies, in fact, find that there is no significant impact either way, either because casinos are not large enough to have a system-wide impact or because gambling was not an influential factor in the community (Williams, Rehm and Stevens). The ideal result from large private sector profits is that personal income levels within a certain jurisdiction will increase, which corresponds to a higher standard of living for the community. Intuitively, the construction of a successful casino will create an...
5 Pages(1250 words)Essay

Orgnaizational behavior Hotel Monaco

...? Organizational Behavior: Hotel Monaco Hotel Monaco Chicago The essay aims to address and respond to the question: how does the Hotel Monaco meet the four factors of the MARS model to enhance employee success and service quality? After watching the video (Hotel Monaco Chicago, 2003), the four factors of the MARS (motivation, ability, role perception, and situational) model is deemed to be met through excelling in the opportunities for providing services to the customers manifested in the 3Ts: Task (to be done), Treatment (of customers) and Tangibles (decor, layout and comfort of the hotel). Motivation is addressed through hands-on governance of the employees by being active in their day-to-day operations and soliciting feedback... , as...
1 Pages(250 words)Movie Review

Economic Impacts on Event Management

...?Economic Impacts on Event Management Table of Contents 0.Introduction 3 2.0.The Dimensions of Event Management 3 3.0.Conceptualising Event Management from an Economic Perspective 5 Conclusion 9 References 10 10 1.0. Introduction The increasing concentration on the profession of event management has drawn the attention of scholars towards various significant aspects among which the relationship between economic factors and events held in different regions can be considered as vital. ‘Events’, in this context can be termed as any social or corporate happenings organised in a planned and structured manner. Hence, it is quite apparent that events have to be systematically managed to be organised efficiently that in turn can provide... )....
8 Pages(2000 words)Literature review

Impacts of The European Economic Crisis

...on spending or increasing taxes to move out from the financial crisis. For example, Greece has reported as high increase in the number of suicides because such victims plunge to poverty unknowingly and they cannot manage (TR-News 2013) Solutions for the EU Economic Crisis From a study by Dulien (2007), it is clear that unemployment is one of the major impacts of the EU economic crisis. To solve the case of unemployment which has contributed to political instability, the EU should consider unemployment insurance. According to Dullien (2007), unemployment insurance has been implemented in the United States and has done well. This act can be implemented in such a way that those who had been...
4 Pages(1000 words)Essay

Economic Impacts of Tourism

...Economic Impacts of Tourism This paper takes a close look at the economic benefits which the tourism industry brings for a country whilst drafting solid tourism policies and a base for its development and management is indeed the order of the day. Tourism for a country brings in the much needed foreign exchange that is welcomed by the government and the related ministries. What it does best is to make the law-makers realize of the tremendous potentials that their country possesses in the wake of tourism and thus an industry of sheer magnitude needs to be in place so that more and more tourists visit each year. The economic impacts in the tourism sector...
5 Pages(1250 words)Essay

Grand Expectations

...The 1960s was a year of optimism. America is already establishing herself as the world’s economic power. Also, she is leading the technological race and business is on the rise. Successes are registering here and there and it seems that America’s rise is on the rise of becoming the most advance and progressive society in the world, except for one concern. She has not yet abandoned the archaic idea of discrimination, racial discrimination to be exact where she still segregates her citizens according to their color and rate them not on their ability but rather on the pigments on their skin. African American are beginning to show discount about their discriminated state and rightfully so, are beginning to assert to be...
1 Pages(250 words)Essay

Potential Environmental Impacts of The Monaco Grand

...as human beings dependency for gaseous exchange. The question of environmental conservation is therefore a concern for every human being as basic means of survival. The idea is thereof to increase as much as possible on the natural resources in relation to the artificial ones in order to create a good balance between the two, by increasing the population of animals in their natural habitation for example marine life and offering protection to it and creating a green empowered society that plants trees and other useful vegetation along with conserving energy, then the impacts of our actions on the environment will be more positive on the overall than negative. References Bragg, G. M., & Strauss, W. (1971). Air...
5 Pages(1250 words)Essay

Grand proposal

...Economic and political development Introduction The study into economic and political development prepares the participant for international development through an interdisciplinary approach that gives them a better emancipation into the global influences of economic, political and social changes in the developing world. In view of the economic and political inter-relations, very few people question the idea that economic and political developments have any functional relation within the industrialized societies. For instance, renewed political growth often follows through increased economic stability (Blakely and Nancey 67). Similarly,...
8 Pages(2000 words)Research Proposal

Monaco

...). 5. Economics of Monaco The city-state of Monaco is known for its wealth, or moreover the fact that there are many wealthy people living there. The small country has a GDP or Gross Domestic Product—the total value of a country’s goods and services over the course of a year within a country—of 6.075 Billion USD as of 2011, which is not very high in the grand scheme of world economics (The World Bank). However, Monaco’s wealth shines through when its GDP is shown Per Capita, which takes the country’s population into account, at a staggering 186,000 USD (The World Bank). SSTs are typically characterized by ‘backward’ economies and...
65 Pages(16250 words)Research Paper
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 Monaco grand prix economic impacts for FREE!

Contact Us