KathrynB 00:40, 15 September 2011 (UTC)
One of the major business and political issues facing sport not just in Australia but around the world is, ‘Is staging major sporting events worth it?’
There have been many debates arising from different stakeholder’s point of view about the financial issues that come from staging major sporting events. One of the major issues is if the host city really receives financial benefits during the sporting event as well as into the future.
With focusing on the debate of if the Olympic Games are worth hosting, I will be looking at previous cities that have hosted the Olympic Games and the benefits and impacts that have arisen pre, during and post the Games. I will be discussing the upfront costs to hosting the event, such as the initial biding to host the event, the infrastructure of the city, the security during the event, public transportation and advertising costs. I will also be discussing the financial benefits during and after the event which includes the image enhancement of the host city, media coverage of the event, the local communities’ revenue during the event and the tourism created from the hosting the event.
This will be done by looking at business’ and political views of the Olympic Games as a sporting event and how it affects the local community as well as the global community.