Economics in Sports
Over past years there has been an on going debate as to whether or not hosting so called “mega sporting events” is beneficial to the hosting nation and cities, either economically or socially. In the early years of mega events the view that hosting one of these events was an economic burden was the view of almost everybody who mattered. However after a profit of $ 200 million profit was generated by the 1984 Los Angels Olympics, many peoples view changed.
According to Matheson and Bade 002, “The prevailing perception seems to be that a properly run Olympics generates millions, if not billions of dollars in profit for the host nation”. (Matheson and Bade, 2002) In 1984 Los Angels was the sole bidder for the Olympics, today cities fight for the chance to host these mega events because usually of the promise of a financial windfall. Does this potential economic windfall Justify the substantial costs and risks?
There are many people and sources who view staging these events as a chance to hanged the fortunes of the hosting city, but equally there are still many who say these events bring along with them to many problems both economical and social. The aim
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Olympic games will be used and examined to see how the host nations and cities have been either positively or negatively effected, both economically and socially, over the years. After this analysis of these events has been completed, an overall perspective on whether or not the positive impacts outweigh the negative impacts will be formed. This will be the basis for the final conclusion and will help answer the assignment question. Many sources will be used to help reach the final conclusion, including… Economics in Sports By shatter