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Achievements of Sustainability in Olympic Games 2012 - Research Paper Example

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The author of this paper "Achievements of Sustainability in Olympic Games 2012" explains that the next Olympic Games are to be held in London in 2012, and it would have an immense impact on the economy of London. IOC awarded London with the right to venue 2012 summer Olympic and Paralympics games…
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Achievements of Sustainability in Olympic Games 2012
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Download file to see previous pages To a host city like London, which is already a well-established city, the achievements from hosting the Olympic Games might give the economy a higher boost than the other not so well established cities who had earlier hosted the Olympic Games. There are already lots of speculations being made about the nature of benefits that London or UK might achieve owing to the hosting of Olympics. It is not always true that a city hosting Olympics had highly benefitted socially or economically after the games are over. In 1972 Munich Olympics and in 1976 Montreal Olympics made losses of £178 million and £692 million respectively, whereas in 1984 Los Angeles Olympics and in 1992 Barcelona Olympics made profits of £215 million and £2 million respectively. There are lots of speculations about the economic performance of the organizers of Olympic Games that increased lately owing to the larger market for television rights and higher costs of the Games. Thus, to understand the exact achievements post-Olympic, the economic evaluations of costs are to be justified. There are mainly three phases that are involved in the benefits to the hosting city, the pre-games period, the during-games period and the post-games period. We will focus our discussion on the post-games period, which is also called the legacy period of the Olympics. In the Legacy period, the city and the surrounding areas will enjoy the benefits of developed infrastructures and health facilities, which are the achievements for the city for hosting a global event like the Olympics. There would be socio-economic progress in the region owing to the developments made in the infrastructure for the successful implementation of the Olympic and Paralympics games. There are also some pre-games and during-games positive effects, which will sustain in the legacy period like the increase in welfare and rise in the rate of employment. ...Download file to see next pagesRead More
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