This is due to the fact its fame will involve mass-media; sightseers; overseas investors; and communiqué firms. In general, for the economy of a particular area to be expanded, the key role will usually be played by investment. As depicted earlier, it is tremendously costly to host a major multinational sporting event. This is in view of the fact that new-fangled sporting amenities ought to be created or/and improved and also, we ought to guarantee the improvement or creation of new-fangled infrastructures.
For instance, FIFA requires that a nation that wants to host Football World-cup ought to have not less than eight stadiums that are modern. Idyllically, much of the profit will be brought by the investments done as well as the expenses incurred. With regards to developing the infrastructure of the host nation, it will better its economical productivity as its technology would have been progressed. With reference to the construction sector which encompasses the media; accommodating sporting participants; and the venues of sporting events, it will also benefit in essence that it will be capable of providing new-fangled workplaces, particularly during the event.
As thus, we assert that there will be a reduction of unemployment in the host nation as the infrastructure would have developed. Statistics show that unemployment rate in Barcelona decreased by about 88 percent during the Olympic Games that took place between 1986 and 1992 (Feenstra 2008). Moreover, the impacts on the economy of the host country will be long-term as the cost of hosting another event will be cut by the already developed infrastructure. Also, such an event will develop the tourist sector of that country because these events are regarded as being destinations for tourist, because they are capable of attracting many individuals.
Each time these sporting events are conducted, millions of individuals attend them and thus, job creation will be promoted by tourism as well as the infrastructure that have already been developed, as clubs and hotels will be created. Nevertheless, due to the fact that individuals come in millions with the aim of attending such events, they are likely to book hotel rooms, purchase meals, order for drinks, pay transportation fares, and purchase match tickets. This clearly elucidates that the nations expenditure will be boosted by tourism and this will in turn guarantee the escalation of retail trade and thus, the economy of the hosting nation will benefit.
In addition to that, the visitors from foreign countries will gain as they will tend to visit the nation’s chronological places that are illustrious and thus boosting the economy of that nation. In the present day, the factor that is deemed to be the most unswerving in determining the massive expansion of the economy is tourism. In conclusion, we can say that the development of sports is regarded as being continuous as a Sporting Event, such as FIFA World-cup or/and Olympic Games, will involve a number of multinationals.
This means that hosting such events will require a tremendous expenditure and keen preparation which may in end be of beneficial to the economy of the host nation. Such events may impact positively to the economy of the respective host nation and these impacts may encompass the following: development of tourism; development of new-fangled infrastructure; and regenerating the economy of the host country (Parkin 2003). Critical Commentary While writing this essay, it was challenging to evade plagiarism.
To begin with, I gathered all the vital information that is of relevance from a source that I regarded as being special. The gathered information was not my general acquaintance. In so doing, a number of notions were kept straight as I carried out my research in note-form by simply compiling the gathered notions in point form. Supremely, the moment I found a sentence that is complete and had a point that I deemed it to be really important, I copied that sentence but then I enclosed it with quotation marks, so as to evade plagiarism.
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