23 Contributors
in this discussion.
When a country hosts the Olympics, their rate of tourism skyrockets. Businesses within wide radii of where the games would be hosted would have profit margins shoot through the roof. The countries themselves are seen by the world as worthy of hosting, and the cultural rating of these countries therefore raise. It would be silly for a country that focused on profit to turn down an opportunity to host the Olympic games.
It costs a lot to host the Olympics, but cities also get a lot of revenue from the tourists and advertisers who come into the city for the games. Cities can also always promote themselves as previous hosts of the Olympics years later to draw more attention to their city's value.
The Olympics are a very special event. You have the most talented athletes across the globe competing and showing us what they are really capable of. Think of the revenue that is generated by just the athletes alone. Some travel with family and need a place to stay. Obviously, some local hotel is going to capitalize on that.
If we win the olympics we have bragging rights for another 4 years until the next summer or winter games.
The economy is such that if we were to host the Olympics, we would not gain back the revenue to break even. There has been a tepid response to the Olympics in general for quite some time. Not like when I was young, and the Olympics held the importance of a Presidential election or Christmas. People aren't even traveling to see family as much as they used to in better times. Why would they bother with the expense of attending the Olympics? The United States has no right spending money on such frivolities when we have homeless, hungry and uninsured citizens that need assistance.
The Olympics give countries a change to partake in friendly competition. The games are a constructive experience, not a destruction one like going to war. I think the Olympics are a healthy way of using sports to foster a healthier world.
The Olympics bring a huge amount of recognition and stature to a hosting country. The country will become more well-known. This will increase tourism and travel to that country, and especially to that region. The Olympics themselves will bring a large boost to the economy. Fans from all over the world will come to the events. Hotels, restaurants, tourist shops and stores will all make lots of money during the games. There will also be media and important people at the events. This all makes hosting the games worthwhile.
I have participated in speech research that shows the margin of profit is much greater than the costs. Also, facilities remain in the host country and can be used to make profits later.
I think that although the cost of hosting the Olympics may be great, the rewards and sheer pride the city feels is far greater. The Olympics are a great and mighty tradition that have been around for hundreds of years, and being able to host such an amazing event, is an honor. Besides being and honor, the Olympics bring thousands of people to one place, meaning that all of them are going to have to spend money in the location of the Olympics. The amount of money that is made off of the Olympics is outrageous.
A city can gain a lot of revenue from hosting the Olympic games. The city gets press for the duration of the game, which can bring tourism up. The place that gets to hold the games gets a lot of attention and support. The Olympics puts a city or country on the map. I also feel that players play harder when they are playing at home. It is very expensive but everyone wants the opportunity to host.
It is worth the cost to host olympic games. The olympics bring a lot of tourism and hotel profits to the city hosting the event. Also it gives the city exposure on tv. Some of this exposure drives tourists to the city. It would benefit the city greatly. So therefore I do believe it is a great benefit.
I believe that the Olympic games is indeed worth the cost, mainly because it brings together a bunch of countries and allow them to compete against each other in a vast range of activities. Also, the country hosting the event gets recognition and a whole bunch of money anyway because of the spectators that come from all around the world to come watch the sports. In fact, the Olympics are not hosted a poor developing country, but instead in a country prospering with wealth. This is indeed priceless in its sense.
The Olympic Games although an expensive undertaking to host is well worth it. Not only does it result in a huge influx in visitors with money to spend but it means worldwide focus on the host country for several weeks. The television coverage not only broadcasts the athletes competing, it means a slew of journalists from around the world all reporting on the host country.
The Olympic Games, to me, is a big waste of time, money, effort, and resources, because all it does is distract people from what they really need to be paying attention to. This goes right up there with professional sports. It's nothing but a rehash of the games from ancient times.
It can cost millions of dollars for a city to build up an area selected to host the Olympics. And then the stadium is used once and forgotten about. It is almost impossible for the same city to host the Olympics again within a reasonable amount of time, and when they do, they would have to rebuild everything all over again, because their previous stadiums will be out of date.
I feel that the cities chosen to host the Olympics will spend millions on this one event. And, because of our current economic situation, we will be unable to make any profit.
It is not worth the cost to host the Olympic games because the stadiums are not reusable yet require tremendous maintenance. Greece lost billions on hosting the Olympics, and now have an inventory of large unused public arenas that continue to require upkeep. Even the Olympic spirit goes away, just look at what happened when Yugoslavia hosted the games- it failed to stop the country from a violent civil war. Probably most countries would be better off not even sending teams to the Olympics and spending the money on education where there is a real return on investment.
A number of studies of previous Olympics host cities/countries shows that the cost of hosting the Olympic games isn't returned in the long run. The initial rush of people during the two or so weeks that the Olympics takes place is followed by a lag of tourism as compared to neighboring countries. Therefore the cost to build the Olympics infrastructure which in many cases takes years and billions of dollars is only to support a two week event, nothing more.
The environmental cost of hosting the Olympic games is always high and can be very high due to the fact that the Olympic games cause a small area to become extremely overpopulated for a short period of time. Nothing is worth deliberate environmental degradation, especially if the games are hosted in an area that still retains any sort of intact ecosystems.
Some Olympic games have been economic benefits for the cities that organized them. But many have had more in costs in preparing for the games than the benefits they received from the games. It can be done, but most organizers do not do very well and it is regarded as a net drag on the national economy.
Hosting the Olympics is very expensive because of all the sites that have to be built. There are short term benefits while the Olympics are being held but over the long term there are not many benefits. Many of the venues are only used for the Olympics and then sit dormant in the upcoming years. The Olympics do not result in much long term business development or long term economic development, only short term while the Olympics are being held.
Due to the high costs of infrastructure and security concerns, it is no longer cost efficient to host the Olympic games. In this day and age, preparing for and hosting the Olympic games is no longer worth the financial investment that comes with the honor of hosting the Olympic games. In order for the games to be held a host city must have the facilities necessary to host dozens of nations and conduct multiple events across the region. In addition, the current war on terror brings an increased price tag when the cost of security standards are factored in. While it was an honor to host the Olympic games many years ago the number of Olympic scandals have brought the glory of the Olympics to a second rate stage.
Before globalization, hosting Olympic Games was a good way of ensuring international caliber athletic competition across a wide range of sports. But today, international competitions occur routinely. The concept of national identity is less clear so that we have nations represented by teams whose members often have tenuous connection with that country. So for a country to incur significant expenses to host such an event seem a waste of money. As television revenues decline with the collapse of broadcast advertising, the economic model behind Olympics will collapse as well.