Boston 2024 Olympic Games - Assignment Example

Boston 2024 Olympic Games Introduction The modern Olympic Games are a preeminent international sporting event in which thousands of athletes from more than 200 countries participate and compete with each other. The first modern Olympics were held in 1896 in Athens. Since 1994, the Summer Olympics and Winter Olympics are being held separately. The International Olympic Committee (IOC), an international non-profit, non-governmental organization based in Switzerland, organizes the Olympic Games every four years. The Bidding Process The IOC decides the country where the Olympics would be held through a bidding process. The bidding process starts with the invitation phase where the IOC invites applications from interested National Olympic Committees (NOCs) to bid 10 years before the commencement of the Olympic Games. The election of the host city is done by the IOC members within the next two years. The host city thus has full seven years to prepare for staging the prestigious event. The bidding process for the 2024 Olympic Games is in process at the moment. Bids can be sent to the IOC between January 15, 2015 and September 15, 2015 (Swidey, 2015). Boston Bid The United States Olympic Committee (USOC) has selected Boston as the applicant city to host the 2024 Olympic Games. Boston was chosen ahead of Los Angeles, San Francisco, and Washington, DC so far as the official bid for 2024 Olympics from United States is concerned. John Fish, Chairman and Chief Executive Officer of Suffolk Construction is the Chairman of the organizing team Boston 2024. The team boasts of many other experienced people from all walks of life including former Olympians. The final selection of the host city will be announced by the IOC in 2017. In the meantime, Boston will co-ordinate with USOC and collaborate with the local community to develop its bid and submit it to the IOC in December 2016. The necessary funds required for all this work will be privately funded. Benefits for Boston Boston will benefit in numerous ways if it hosts the 2024 Olympic Games. The city is scheduled to celebrate its 400th anniversary in 2030. The preparation and infrastructural development for the 2024 Olympics will play a pivotal role in achieving the city’s vision for the monumental year 2030 as well. The planning committee of the 2024 Boston Olympic Games has categorically stated that the event will be dedicated to future of the city (Kamp and Futterman, 2015). The Vision of Boston 2024 is to create a better future for all stakeholders. The main economic benefits of hosting the Games are listed below. Jobs The Games will create a lot of jobs in Boston. Some of the jobs will be direct in nature. For example, employment of people for building up of new stadiums or renovating existing ones, building roads, railways and other infrastructure. At the same time, the event will create indirect jobs. Many other sectors of the economy like hotels, aviation will witness an increase in demand. Whenever such an event takes place, there is a general increase in overall business activity in the area. Many local businesses will render their services for the successful conduct of the Games. Many summer jobs and student internships will also be offered throughout the year. Likewise, when international tourists visit Boston during the games, they will stay, eat and shop and thereby benefit local businesses. It is estimated that 70,000 jobs were created for the local residents during London 2012 Olympic Games (Boston 2024, 2015). Tourism Boston 2024 intends to launch a massive, privately funded marketing campaign. The marketing is likely to increase in-bound tourism in the city. Before the commencement of the actual Olympic Games, there will be conventions and conferences in Boston. Thus the benefits will start accruing to the city in the near future. The inbound tourism in London has increased by 6 percent after the 2012 Games. These additional tourists reportedly spend an additional $1 billion in London every year (Boston 2024, 2015). Building Brand Boston The Olympic Games will be telecast live in many parts of the world. It is estimated that images of important areas like waterfront and universities of Boston will be seen by millions of people globally. This will help build Boston as a global brand and attract foreign investment and talent to the city. The 1992 Summer Games proved to be a boon for Barcelona. It has become one of the world’s leading convention sites and attracts 7.5 million visitors annually (Boston 2024, 2015). Infrastructure Development The infrastructure development like housing and transit improvement will benefit Boston in the long-run. The Athlete’s Village will be constructed with the help of new modular construction techniques. After the Games are over, this village will serve the purpose of affordable housing. Boston’s bid is unique in the sense that the city aims to utilize the existing facilities in universities and colleges for the Games. Experts say that these educational institutions will be able to attract alumni donations once they are official venues of the Olympic Games (Hersh, 2015). Hosting the Event The hosting of the event will require careful planning of various aspects that are discussed below. The Venues Boston will avoid spending money on building permanent facilities that cannot be used after the Games are over. Close to half of the venues will use existing facilities while two-fifth will use temporary facilities. Money will be spent on building permanent new facilities only at 10 percent of the venues. The city as a whole will serve as the Olympic Park. 28 of the 33 venues planned to be used for the Games are within a 10-kilometer radius (Springer, 2015). As per the present proposal, Boston will build a temporary Olympic Stadium at Widett Circle. The Opening and Closing Ceremonies will be held at this venue. The track and field events will also be held at the temporary stadium. The stadium will be built by firms that specialize in temporary constructions and modular manufacturing. Different parts of the stadium like grandstands, seats, and railings will be reused at different venues from time to time. An area of 80-acres has been ear-marked for the temporary stadium. After the structure is dismantled, the site will be used for varied purposes like hotels (7, 20,000 square feet), residential area (3,975, 000 square feet), retail space (8, 70,000 square feet) and office space (1, 550, 000 square feet). Overall, this site will be redeveloped into a residential-focused neighborhood (Clauss, 2015) This is the initial plan and is subject to change. The changes in the proposals will be made after the public opinion is gathered and analyzed by the organizers. The other proposals that have been put forth but are subject to change depending on the response of the local residents include Olympic Stadium in Seaport District (East End), boxing at Rocky Marciano Stadium (Brockton) and soccer at Fenway Park. The organizers have also proposed Cruise ships for athlete housing. With the current and proposed infrastructure, Boston 2024 believes that it can handle the Olympics and Paralympics crowds. The new construction will be accessible by people with disabilities as mandated by law (Boston 2024, 2015).  Transportation Plans Boston had made considerable progress in building and upgrading its transportation services. The Central Artery Project, the extension at Logan Airport and the cleaning up of the Boston Harbor are some positive developments. These alone may not be sufficient for hosting the mega-event but can be regarded as baby steps in the right direction. With close to 800 domestic flights and more than 100 international flights every day, the Logan International Airport handled 30 million passengers in 2013. The Massachusetts Port Authority (Massport) is committed to pump in the requisite capital and upgrade the airport to meet the increased demand during the mega-event (Boston 2024, 2015). The city plans to upgrade add Massachusetts Bay Transportation Authority (MBTA) Red and Orange Line Cars. The expansion of South Station and Green Line is also on the cards. The plan includes extending rail service to connect the Back Bay and Boston Convention and Exhibition Center (Boston 2024, 2015).  The transit facilities will be enhanced with the objective of providing accessibility to the games. These facilities will also provide a flawless changeover to the Paralympic Game and increase the attention and attendance at these Games.  The administration will also augment the biking infrastructure in the city. By 2024, Boston aims to add 100 miles of bicycle network to its existing network of 120 miles. Locals and tourists will be encouraged to travel by bicycle during the games. It is noteworthy to mention that Boston’s Hubway is the fifth largest bike sharing system in the United States. Hubway provides 1300 bikes at 130 stations which will be used during the Olympic Games (Boston 2024, 2015). Overall, the Games will serve as a catalyst for improving public transportation and overall infrastructure development Funding of Boston 2024 Games The budgetary requirement for the 2024 Boston Olympic Games is estimated to be $4.7 billion. It is noteworthy to mention that the taxpayer’s money will not be used to fund these Games. Rather the entire budget of the Games will be privately funded. Financial resources will be raised through broadcast revenues, corporate sponsorships, and ticket sales. Countries like UK and China are known to fund such international events. These countries have built new neighborhoods and expanded cities while hosting the Olympic Games leading to massive cost overruns. Boston 2024 however intends to adopt strict fiscal discipline and maximize sponsorship revenue for the Games. The Salt Lake Games in 2002, Atlanta Olympics in 1996 and the 1984 LA Summer Games generated net positive inflows. Boston 2024 hopes to replicate that feat (Boston 2024, 2015).  As a precautionary measure, the organizers contemplate taking multiple layers of insurance to protect city from any kind of financial problems. In case the Boston Games earn operating profits, the corpus will be used to make sports more available to children across the Commonwealth at a reasonable cost. The Salt Lake City 2002 Winter Games earned profit of $100 million. Out of this amount, 60 percent of the money was repaid to the public. This money had earlier been used to build the Olympic Park. The rest of the 40 percent was contributed to the Utah Olympic Legacy Foundation (Boston 2024, 2015). This foundation supports youth sports and maintains world-class athletic facilities in the region. Security Plans The Boston 2024 Olympics will provide a safe and secure environment to the athletes, audiences and locals. The organizers plan to use technologically advanced communication techniques rather than physical security to protect the players. The security aspects have been kept in mind while selecting the sites and locations where different competitions will be held. The overall security arrangements will be made after consulting public safety agencies operating in Boston as well as the Federal Government. At present the organizers of Boston 2024 are receiving advice from other organizers who have successfully managed such international sporting events in the past. The Broader Perspective The Boston 2024 Games will provide benefit to the Commonwealth and New England in addition to the Greater Boston area. Some of the visitors will stay at neighboring places like Cambridge, Brookline and Newton. There will be a general increase in the economic activity in these areas as well. The tourists may rent space from the locals or from commercial hotels making them cash rich. It is noteworthy to mention that besides the period of the Olympic Games, athletes from all over the world will come months in advance for training purposes. They will rent accommodations and training facilities throughout the region. The tourists and athletes can be encouraged to stay back after the Games and encouraged to visit other cities of Massachusetts. Events like mountain biking and canoeing will be held outside the city limits. The areas where these events will be held will also witness infrastructure development. People from different nationalities, ages, races and socio-economic backgrounds participate in the Olympic Games. Boston 2024 also promises to engage people from diverse ethnic backgrounds, women and minority-owned businesses that will supply goods or render other services for the Games. Disadvantages of Hosting Olympic Games There are certain disadvantages of hosting the Olympic Games. The biggest negative consequence is not being able to organize the games properly. If the tourists or athletes are not satisfied, they will spread negative word-of-mouth publicity. The media is ruthless and all the lapses will be highlighted in the news. This bad word will spoil the future tourism for the city. Hosting the Olympic Games is expensive. In case the revenue generated is not enough, it can render the city bankrupt. There is a possibility that there may be no increase in tourism. All the long-term benefits remain on paper. If everything goes well so far as the Games are concerned, people will feel happy and take pride in the accomplishment. This feeling too will fade away in a couple of months (Bednar, 2015). Last but not the least, some advertisers may not find it worthwhile to sponsor the Games. There were 600 sponsors in the Montreal Games. The lesser known companies simply got lost in the crowd. Support from Locals The organizers will have to pull up their socks and garner support of the local public if they intend to host the 2024 Olympic Games in Boston. Latest surveys reveal that 52 percent of the local population is against the Games while only 36 percent back the hosting of the Olympic Games in Boston. Cost, transparency and inadequacy of infrastructure are being cited as the main reasons by the skeptics. Some sections of the society have raised concerns over traffic and security matters also (Smith, 2015). Rich Davey, the Chief Executive Officer of Boston 2024, is ramping up public relation efforts by setting up 20 public meetings. The effort is being made to build local public support as it is one of the important parameters that IOC takes into consideration while selecting the host city. There is a ‘No Boston Olympics’ group that is pushing for a referendum in November so that the locals can have a real say in the matter (Kamp and Futterman, 2015). Mayor Walsh is expected to have a conversation with and address the questions and concerns of people who are against hosting the Olympics in Boston. With a concerted effort and a robust public process, Boston 2024 may swing the tide in its favor. What IOC Wants The IOC encourages novel bids that put emphasis on cost-effective planning. The idea is to encourage sustainability and reduce exorbitant outlays that eventually lead to deficits. The IOC’s 40-point “Olympic Agenda 2020” also allows for distant venues to be used for the Olympic Games. The apex body wants the 2024 Games to be the new model for future Olympic hosts. It appears that Boston 2024 along with USOC can pull off the winning bid if they work closely with other national and international sports federations in the country. Conclusion The Boston 2024 bid process in itself is a once-in-a-century opportunity to improve infrastructure, develop housing, increase commerce, build resources, attract global investment and improve Boston’s standing on the world stage. It is also a unique opportunity for all stakeholders like city administration, the state government agencies, businesses, competitors and environmentalists to discuss and solve challenges collaboratively. It can be said that hosting the Games will be rewarding for the city. However, there are some associated risks. If the planning and execution is good, the benefits far outweigh the limitations. All the concerns must be addressed in a transparent manner so that the actual risk of the project is minimized and the benefits are maximized. References Bednar, J. (2015). Boston wrong. BusinessWest, 31(22), 6. Retrieved from http://search.proquest.com/docview/1664807254 Boston 2024,. (2015). Boston 2024. Retrieved 29 April 2015, from https://www.2024boston.org/ Futterman, M., & Kamp, J. (2015, Mar 20). Organizers step up efforts to build support for Bostons 2024 olympics bid; new poll shows more than half of bostonians oppose hosting the games. Wall Street Journal (Online) Retrieved from http://search.proquest.com/docview/1664806296 Hersh, P. (2015, Jan 09). Boston to be U.S. bidder for 2024 summer games. McClatchy - Tribune Business News Retrieved from http://search.proquest.com/docview/1643254575 Kamp, J., & Futterman, M. (2015, Jan 21). Boston Olympics backers believe they can win over skeptics; group sees strong majority of support for 2024 games as critics explore referendum. Wall Street Journal (Online) Retrieved from http://search.proquest.com/docview/1647257900 Smith, E., Cassidy, C., & Stout, M. (2015, Jan 10). Olympic obstacles. McClatchy - Tribune Business News Retrieved from http://search.proquest.com/docview/1643777735 Springer, S. (2015). Boston’s Olympics plan could rely on distant venues. The Boston Globe. Retrieved from http://www.bostonglobe.com/sports/2015/01/18/boston-games-could- rely-distant-venues/WveB9i8hgXvtML3Tb4iC0J/story.html Swidey, N. (2015). How to rethink the Olympic bid for Boston’s benefit. The Boston Globe. Retrieved from http://www.bostonglobe.com/magazine/2015/04/07/how-rethink- olympic-bid-for-boston-benefit/X8muWkTExkqBBU7Hr3CfGI/story.html Read More