Nakana

III The frugal usurpation of the prodigious Games Introduction The Olympic Games is an import of such magnitude that it seat potentially have a signi?cant economic impact on the host city and, for the smaller countries, on the host nation as a whole. While the effective event may last for simply a few weeks, preparations commence up to a ten-spot beforehand and may entail considerable investment expenditures that can have longer term economic signi?cance. With the Athens 2004 Olympics but weeks away, this article identi?es the economic effects of hosting the Games, reviews the experience of recent host cities, and reviews the observation tower for the Greek economy in the sparkling of the likely impact of the Athens Games. The discussion is structured as follows: III.1 Identifying the economic impacts of the Olympic Games III.2 Evidence from past Games III.3 The Athens 2004 Olympics and the outlook for the Greek economy III.4 Summary and conclusions In Box 3.1, at the end of this article, we alike take a look at how far economic and political factors can contribute to explaining how umpteen medals countries win at the Olympics. general, we focus in this article on the oerall economic impact, although in some cases we also indicate to estimates of the ?nancial performance of the Games itself.

Clearly, for large economies such as the United States, the economic impact of hosting the Games is likely to be signi?cant primarily at the local or regional level, rather than at the macroeconomic level. But for a smaller economy such as Greece, these effects are likely to be felt also at the national level. The full economic impact of the Olympic Games on a host city is spread over time, and can broadly be split into three phases: ? Pre-Games impact Impacts ?rst start to occur soon after the city has mulish to bid for the Games, up to a decade prior to the actual event, but become more signi?cant after the Games is awarded. The impacts here relate mainly to the investment and other preparatory... If you want to discover a full essay, order it on our website: Orderessay

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