Nakana

III The scotch squeeze of the prodigious Games Introduction The Olympic Games is an resultant of such magnitude that it tramp potentially have a signi?cant economic impact on the host city and, for the smaller countries, on the host nation as a whole. While the echt event may last for unless a few weeks, preparations commence up to a go beforehand and may entail considerable investment expenditures that can have longer term economic signi?cance. With the Athens 2004 Olympics only if weeks away, this article identi?es the economic effects of hosting the Games, reviews the experience of quondam(prenominal) host cities, and reviews the lookout for the Greek economy in the sparkle of the likely impact of the Athens Games. The discussion is structured as follows: III.1 Identifying the economic impacts of the Olympic Games III.2 Evidence from past Games III.3 The Athens 2004 Olympics and the outlook for the Greek economy III.4 Summary and conclusions In Box 3.1, at the end of this article, we excessively take a look at how far economic and political factors can contribute to explaining how umpteen medals countries win at the Olympics. general, we focus in this article on the overall economic impact, although in some cases we also discover to estimates of the ?nancial performance of the Games itself.

Clearly, for large economies such as the United States, the economic impact of hosting the Games is likely to be signi?cant primarily at the local or regional level, rather than at the macroeconomic level. But for a smaller economy such as Greece, these effects are likely to be felt also at the national level. The full economic impact of the Olympic Games on a host city is spread over time, and can broadly be split into three phases: ? Pre-Games impact Impacts ?rst start to occur soon after the city has contumacious to bid for the Games, up to a decade prior to the actual event, but become more signi?cant after the Games is awarded. The impacts hither relate mainly to the investment and other preparatory... If you want to get hold a full essay, order it on our website: Ordercustompaper.com

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