El Fin.

I personally believe that the economic impact of the Olympic varies. It has the power to industrialize countries, put them ahead of every other country or pull them behind. Depending on the economic stability of a country prior to the games, the outcomes tend to be very diverse. Some countries like the United States walk away with money in their pocket. Other countries such as Athens and Montreal come out with weights on their ankles. From my research I have concluded that the countries who prepare further in advanced and in a responsible manner; do not run into such economic problems. 

Photo:

http://i.telegraph.co.uk/multimedia/archive/02309/ol-stadium_2309265b.jpg

The Cons.

Holding the Olympic games bring great economic expenses, also affecting the reputation of the host country. Examples of this problem were the 2004 summer games in Athens, because they are still trying to pay off their expenses from the Olympic games. Montreal however, is the best example of this debt, having just now finished paying off their Olympic debt 30 years late. The Olympic host counrtries although admired for their elaborate structures and shows end up going bankrupt. The bankruptcy these countries are faced with are no easy task to pay off. Not only are the countries in trouble, but all the riches it seemed they were making pre-games and over the course of the games suddenly fall away. Leaving people unemployed, unhappy and unsettled.

 

Information:

http://prosandconshostingolimpics.blogspot.com

 

Photo:

http://research.stlouisfed.org/pageone-economics/uploads/Images/OlympicsChart.jpg

 

The Pro's.

Though the cost of hosting an Olympics is high, benefits are extensive. The greatest benefit with in the infrastructure. The money spent goes towards building world class facilities and modernized structures. Hosting the Olympics is beneficial because it helps to improvethe host country’s reputation and presents them with an opportunity to put their best foot forward. An additional benefit in hosting the Olympics is that it allows cities and nations to become more prestigious world wide. Hosting the Olympic Game's brings in large amounts of tourists from all across the globe. This helps to stimulate the economy of the host country. As time passes expectations rise and with higher expectations the bigger the budget becomes. Making the host country the most powerful and rich countries in the world. The Olympic Games generate lots of money, with an increase in the number of visitors, because people need food to eat and places to sleep. Local's tend to reap the reward.

Information:

http://prosandconshostingolimpics.blogspot.com

http://nccuir.lib.nccu.edu.tw/bitstream/140.119/37406/8/803008.pdf

In the Long Run

Hosting the Olympic games is not just an honor, it is a task. Costly and risky, if a country does not plan it out right they put themselves at risk. The economic effect of the Olympics is differs depending on the state of the economy entering the games. The games no matter where in the world you are show similar trends. A growth in investment rates and investments as a whole sky rocket pre-games. With the increased investments the GDP will follow right along with is in most cases. Post games economy always take a tumble whether a big one or a small one there is always a bump on the road to recovery.

Information:

http://i.telegraph.co.uk/multimedia/archive/02291/Olympic-Rings_2291063b.jpg

Photo:

http://www.nytimes.com/2012/07/15/magazine/who-made-the-olympic-rings.html

The Latest and Greatest

The most recent Olympic Games were held in London racked up a total cost of 24.5 million US dollars.  During the games consumer spending increased 1.2 billion US dollars and the economic output sky rocketed to 1.14 billion pounds. This was a result of increased demands for output and services. However, the little stores and pubs fell behind over the course of the games.  Which is shocking considering London had the largest amount of tourists in the history of the games the UK came out strong and ahead of the games initally, but it's only a matter of time before the debt catches up to them.

Information:

http://www.merar.com/weblog/2012/08/20/economic-impact-2012-olympic-games/

Photo:

http://news.bbcimg.co.uk/media/images/63704000/gif/_63704378_gdp_olympics_624.gif

Beijing

When Beijing was selected as the host city for the 2008 Olympic games in 2001, a huge opportunity was placed in front of them. Not only could they wow the world , but they could put their nation in a global spotlight. The 2008 Olympic games were estimated to have created a total of 2 million new jobs, with over half-a-million visitors appearing for the games China's GDP reached an all time high, 11.4%. China went all out spending almost 20 billion dollars in total , 420 million alone on the Olympic stadium they went above and beyond the worlds expectations. In 2007 China reached the height of their economic boom, with a GDP of 12.8%, 6,331 US dollars per capita the Olympics didn't leave as deep of a dent in their economy as expected.

Information:

http://www.dollarsandsense.org/archives/2008/0808battan.html

http://www.klakogroup.com/en/china-invest-monthly-newsletter/impacts-of-the-2008-summer-olympics-on-beijing

Photo:

http://www.chinese-architecture.info/OLYMPICS/Beijing_National_Stadium.jpg

Home Field

In 2004 the Olympics were brought back to their home town, with Athens, Greece. One can only imagine the pressure Athens was under with expectations from the whole world you better believe they would go all out. Greece spent 12 million US dollars on the 2004 Olympic Games, the largest amount of money spent since 1984. Not only did Greece exceed their budget, but they doubled it. Greece was late to invest in Olympic facilities and the gymnasiums were not invested in till 2000. This late start led to a hefty cost. Greece's enormous amount of expenses left them in a great deal of debts, which amounted to 3% of it's total GDP.

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Information:

http://nccuir.lib.nccu.edu.tw/bitstream/140.119/37406/8/803008.pdf

Photo:

http://shewolfgreece.files.wordpress.com/2009/07/opening_ceremony_athens_2004_fire_t.jpg