Essays24.com - Term Papers and Free Essays
Search

Positive Effects Of The Olympic Games

Essay by   •  January 1, 2011  •  1,890 Words (8 Pages)  •  2,361 Views

Essay Preview: Positive Effects Of The Olympic Games

Report this essay
Page 1 of 8

Business opportunities for companies

Businesses in New South Wales won A$1bn worth of contracts from the Sydney games and an additional A$300mn was generated by local business. Over 55,000 people received employment related training. If London hosted the Olympic games, thousands of UK firms could be involved in supplying everything from construction to manufacturing, catering to merchandise.

(http://www.sportengland.org/2012_uk.htm)

Boost to tourism

The tourist industry won't just boom during the four weeks that the Olympic and Paralympic games actually take place, but for months and years before and after the event.

Price Waterhouse Coopers believe the Sydney games gave Brand Australia A$6.1bn worth of additional publicity and over A$6bn worth of spending from 1.6m visitors between 1997 and 2001. Between 1993 and 1996, after Sydney had been named as the host city for 2000, its convention and exhibition sector grew with the number of international visitors increasing by 78%.

(http://www.sportengland.org/2012_uk.htm)

AFFORDABLE HOUSING

Olympic Villages, will provide market and affordable housing units after the Games are complete.

(http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf)

INCREMENTAL PUBLIC REVENUES

An economic study of the financial impact of the 2010 Olympic projects in combination with the expanded Convention Centre reports incremental tax contributions − largely from tourism, hospitality and conventions − of nearly $2.5 billion over 20 years.

(http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf)

GLOBAL PROMOTIONAL EXPOSURE

Analysts have concluded that, as host of the 2000 Olympics, Sydney received $6 billion in free publicity − essentially a $6 billion global advertising campaign for Australia tourism, at no cost. Vancouver and British Columbia tourism, small business and companies in emerging industries would receive similar world-wide exposure.

(http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf)

COMMUNITY LEGACIES

With the incremental tax dollars generated by the Games and related activity, the province will have the financial ability to fund important social programs and crucial public services like health care and education.

(http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf)

FACILITIES

If Vancouver wins the right to host the Games, the province has pledged a total of $310 million over six years to fund the necessary facilities for the Games. This investment is matched by $310 million from the federal government to cover the cost of construction of new athletic facilities such as a speed skating complex at SFU, hockey arena at UBC and Olympic Villages, as well as upgrading existing facilities to world-class standards. Included in this investment are $110 million in legacy funds to allow the facilities to be maintained and operated for public use after the Games, at no additional cost to the community. The 2010 Olympic Games are fully supported by the provincial and federal governments and private sector. The costs of the investment are shared, and so are the benefits - by the entire province and country.

(http://www.wastebuster.gov.bc.ca/popt/olympic_benefits_bg.pdf)

Tourism and Retail -

The Games provided enormous benefit to Australia's tourism and retail sectors. Highlights in relation to tourism and retail include:

- the Games' generation of up to $6.1 billion worth of international publicity,

- over $6 billion in spending by an additional 1.6 million visitors during 2001,

- the Sydney Convention and Visitors Bureau's (SCVB) success in winning 210 events between 1993 and Games time, attracting more than 250,000 delegates and injecting more than $1 billion into Sydney's economy,

- in addition, $203 million from projected business events committed since October 2000,

- the attraction of more than 110,000 Games-time specific international visitors,

- a substantial improvement in international perceptions of Australia in terms of customer service, quality, value and reliability.

(http://www.gamesinfo.com.au/pi/ARPICOE.html)

TOTAL EARNINGS AND

EMPLOYMENT IMPACTS

The economic impact of hosting the Games is most easily understood in terms of its effects on earnings and employment. Impacts in these dimensions are two other ways of looking at the effects of the Olympic Games, but note that earnings impacts already are included in the output impacts (although not separately stated) and should not be added in again. Similarly, employment impacts are simply another measure of economic impact and obviously should not be added either to the output or to the earnings impact.

The first column of Table 4 reports the total earnings impacts, including induced effects, for each category of direct and indirect spending. Spending by ACOG (direct) will generate $1.1 billion in earnings. Visitors' spending (indirect) will generate $814 million in earnings. Combining the direct and indirect impacts shows that the 1996 Olympics will generate $1.9 billion in earnings for the statewide economy Table 5 provides a detailed allocation of the earnings impacts produced by all direct and indirect spending sources. Earnings impacts are attributed to impacted industries rather than to expenditure sources.

Employment impacts accruing to the state total over 77 thousand full- and part-time jobs. The total employment impacts reported in Table 4 include induced employment impacts. Direct spending by ACOG generates 36,000 jobs (47 percent of the total). Indirect spending by out-of-state visitors generates 41,000 jobs (53 percent of the total).

Table 6 shows industry-by-industry detail of where the jobs will be created. Employment impacts are attributed to impacted industries rather than to expenditure sources. The largest employment impacts are in lodging and amusement (18,067 jobs), eating

...

...

Download as:   txt (12.8 Kb)   pdf (146.9 Kb)   docx (14 Kb)  
Continue for 7 more pages »
Only available on Essays24.com
Citation Generator

(2011, 01). Positive Effects Of The Olympic Games. Essays24.com. Retrieved 01, 2011, from https://www.essays24.com/essay/Positive-Effects-Of-The-Olympic-Games/27499.html

"Positive Effects Of The Olympic Games" Essays24.com. 01 2011. 2011. 01 2011 <https://www.essays24.com/essay/Positive-Effects-Of-The-Olympic-Games/27499.html>.

"Positive Effects Of The Olympic Games." Essays24.com. Essays24.com, 01 2011. Web. 01 2011. <https://www.essays24.com/essay/Positive-Effects-Of-The-Olympic-Games/27499.html>.

"Positive Effects Of The Olympic Games." Essays24.com. 01, 2011. Accessed 01, 2011. https://www.essays24.com/essay/Positive-Effects-Of-The-Olympic-Games/27499.html.