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.

.

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

Come One Come All

The Olympic Games of 2000 were held down under, in Sydney Australia. With preparation for the games long under way, Sydney was ready for a show. Holding the games further motivated industrial development of transportation, tourism and real estate. With a direct revenue of 2,605 million US dollars, Sydney was one of the most profitable Olympic games in history. Not only did the rake in the money, but people came flooding in as well. Over 500 thousand travelers came to spectate these games.   Sydney began preparing long before the games, in 1994 the total investment in the games added up to 5,836 million US dollars. With direct investment at 3,724 million US dollars and indirect at 2,112 million US dollars. All this investment left lots of risk, but Sydney went about it in a way that everything that was created from the games and their preparation would not seize to be of use post-games. The only number that fell was their number of tourist from 8.7% to -.9% they took a hit. 

Information:

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

Photo:

http://work-down-under.com/wp-content/uploads/2010/01/work-down-under2.jpg

Passing the Tourch

In 1996 the United States of America held the Olympic games in Atlanta, Georgia. The United States was already an advanced-development country. The United States invested directly invested 1,182 million dollars and after it was all said in done The United States came out on top with a total of 1,705 million dollars. Although Atlanta came out on top, they didn't have to change much to do so. The GDP increased, but it did so steadily. The employment rate only grew a mer .07% over the course of 6 years.

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

Photo:
http://mittenunited.com/blog/wp-content/uploads/2012/08/olympic-logo-atlanta-1996-mitten-united.jpg

Break in the Action

I think that the Olympics have an important impact on the economy of the host countries. Whether that impact is positive or negative it still holds a great impact on our economies. The Olympics are not only an important part of our unifying the world, but they are a dynamic part of peaceful business among our world. Through these periods of peaceful business our world is exposed to possibilities.

The Bomb Drops

The Second World War left Japan with a fragile economy, with debts to pay and minds to settle. Japan seized the opportunity to stimulate it's economy when it was announced to hold the 1964 Olympic games. After generating massive amounts of growth in their economy, once the games ended so did the boom. One year later Tokyo's GDP plummeted from 17.6% to 11.3%. 

A Quick Jump to a Top Spot

The 1988 Olympic games did more then just turn the worlds attention to Korea, it pushed Korea to become one of the newly industrialized nations. When the Olympics came to Korea it was a developing country. However, after adding 330 thousand new workers, raising the national income 12.4% from 1981. Not to mention the GDP per capita boosted the the US dollar from 2300 to 6300. Holding the Olympics brought Korea 300 million US dollars of profit for them, but it industrialized their country. Korea was one of the lucky countries that continued to prosper even after the Olympic games, becoming one of the East Asian Tigers. 

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

Photo:
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEic0gMoHMxtNCqFf8H5sSZefVLaC-ft6D-has8t-KFGDn98ZLJNywT2-BJAVIM1ZIbp7rtGbSKF3PgZK3yTmAqYnybGsGitMSDER0NvhM4N-HSXLC5LxZnGdCjZ-riTIiF9si_rUlFlKgc/s1600/Angry-Tiger-Face-Picture-2.jpg

The Boom

When Tokyo was announced to hold the Olympics games, they were determined to use it to their advantage. By promotiong public investments they realized exactly what this could do for them. The gocernment constructed The Plan of Doubling National Income, this was to be done through basic constructions. These basic constructions led to a prompt developement of manufacturing, construction, service transportation and communication. The annual growth rate of Japan's GDP after holding the games dramatically increased from 10.1% to 26.1%. Their total amount of GDP was more than those of some advanced countries in Europe; such as England, France and Western German. The Olympic games boosted Japan up to the second economy in the world. This incredible amount of prosperity is known as The Boom of Tokyo 1964 Olympic Games.

 

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

Photo:
http://www.flickr.com/photos/smithsoniannmai/7251671690/

Let the Games Begin

In 1896, the first Olympic games were held in Athens, Greece. Although none of the cities to host the games prior to 1984 made a profit, the cities all had a renowned case of motivationg economic growth. Not only did host cities stimulate their economy, but the world also finally found peaceful buisness during the Olympics.  Japan saw truth to this, with an emphasis put on public investments after announced to hold the 1964 Olympic games. The Japanese taking advantage of this opportunity they created "The Plan of Doubling National Income."





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

Photo:
http://www.slaughterphoto.com/Artists/28788/box_800_495/6222006114038PM_Olympics%20Los%20Angeles%201984%20Opening%20Ceremonies_2.jpg

Unifying the Globe

Pierre de Coubertin was not the first man to purpose the idea of holding games that would allow the worlds best athletes to compete amongst eachother, but he was the most presistent in of those who shared the idea. It was no easy task for Coubertin to arrange a meeting with 79 delgates representing 9 different countries, but once he did he peaked their interests and thus the Olympics were born. Little did Coubertin know he would not only unify the globe for hundreds of years, but he would be pulling economies out of recessions, increasing GDP's and creating a whole new competition outside of the arena.





Information:
http://history1900s.about.com/od/fadsfashion/a/olympicshistory.htm

Photo:
http://x.limgs.cn/f1/c1/up201207/49e9a30a89d0c323a3fe67b0f58807d0.jpg