The Economy of the Olympics

Review & Conclusion

Applying to host the Olympics causes a 30% increase in international trade because it projects economic stability.

The benefits of the games, such as lasting infrastructure changes outweigh the costs.

The tourism industry grows because it makes the city seem more appealing.

Thousands of people are employed in construction and permanent positions.

Locals are more involved in their community and feel more patriotism, which increases the happiness factor.

The Olympic Impact Study ensures that future cities will be as successful as those in the past.

Although many host countries spend billions on the task of hosting the Olympics, the economic boost gained by the host city outweighs the cost. The political and economic exposure increases the foreign trade and investments of the entire country. The city experiences boosts the the tourism, sport, construction, and business industries as a direct result, and thousands of jobs are created in order to host the Olympics, many of which are permanent. The stock market of the host experiences a spike, and businesses around the world are attracted to the city. The International Olympic Committee works hard to make sure that each host is successful for the event and the years after it. To be sure, Olympic cities of the past, present, and future will reap the benefits of connecting with such an international phenomenon.