Finna be Lit Review

Motives for countries to host such events,
along with its pros and cons

 

Sources: Circus Maximus: The economic gamble
behind hosting the Olympics and world cup (Andrew Zimbalist, 2015)

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The
Impact of Professional Sports Franchises on Local Economies. (Jeffrey Pierro, 2014)

 

Throughout the years, it has been evident that
countries would strive to become the next host of mega-events such as the
Olympics or The World cup. Many of which recognize the economic benefits of
hosting the event will provide to local businesses and the region as a whole.
However, both the Olympics and the World cup represent an extreme example in
which such sporting events generate massive revenue for a short period, but in
the long run are a costly endeavor for the city (Pierro, 2014).

Generally, it has been an accepted view by
independent scholars that stadiums and teams could not be expected to have a
positive impact on a city’s employment or output. This statement was derived as
observations were made in which of the money of local fans was being spent at
an arena was budgeted leisure money, in which could have been spent on other
forms of entertainment or venues within the city, thus the spending of
spectator sport may be replaced with spending elsewhere in the economy (Zimbalist,
2015). However, could a mega-event bring forth a more positive impact? This is
plausible as a large portion of the attendees to these events come from abroad,
thus the money they bring with them will be fresh to the hosting countries
economy, rather than the already existing recycled money of the economy.

It seems to be the case, in recent years, that
countries do believe hosting the world cup and other mega-events, along with
all its costs, is worth the endeavor for the city in the long run. We can observe
this in the world cup, as each successor host country is spending more with the
setup and preparations in hosting this mega event. Several decades ago, in
1994, the costs associated with hosting the world cup was in the several hundred
million when the united states were the host, to a staggering $5-6$ billion
spent by the 2010 hosts, south Africa, followed by $10-$15 billion spent by
Brazil in 2014, and estimations suggest the next host country of FIFAs world
cup, Qatar, to shatter all the previous financial price tags with an incredible
spending of $220 billion or more. (Zimbalist, 2015)

However, many of the locals of the host city
have voiced their opinions on their governments hosting these mega events. A
significant portion on the population in each host country argued all the
efforts taken by their governments in hosting this even, financially, could
have been used elsewhere in their nation such as improving of living standards
and further development in different sectors of the country. The most obvious
costs that use up the finances of the country goes into infrastructure and
non-sport infrastructure (Zimbalist, 2015).

 

http://digitalcommons.bryant.edu/cgi/viewcontent.cgi?article=1014&context=honors_mathematics

https://books.google.ie/books?hl=en&lr=&id=OYzQDAAAQBAJ&oi=fnd&pg=PR7&dq=why+is+hosting+the+olympics+a+big+deal&ots=52ZkLAZz31&sig=M47Ro4b0aye2jaFlTzq8B4uKpP8&redir_esc=y#v=onepage&q&f=false

 

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