The effects of the organization of the Olympic game on the UK economy

Résumé du document

Every four years the Olympic Game takes place in different country. The choice of the country is very strict and lots of countries are competing to be the host of the Olympic Games. Indeed, it is a big opportunity for them because it represents important economic issues for the host. In 2012, The United Kingdom was the organizer of the Games. So in the actual economic context, we will try to respond to the following question. What are the effects of the organization of the Olympic game on the UK economy? Indeed, the History shows that the Olympic Games have a mixed financial profitability: for example, the Munich Olympics (1972) or the Montreal Olympic (1976) have led to heavy losses, while those in Los Angeles (1984), Barcelona (1992) or Atlanta (1996) have all generated profits.

To start, the Olympic game could have a positive effect on the UK economy. To start, it permit to revive the tourism in London with is it new status as an Olympic city. However, real impact from tourism is in the years after the Games. The tourism in London will not be attractive only for the tourism but also for business conference or sporting events or example. Indeed, according to the MailOnline, 79 per cent of the hoteliers described their business as profitable or very profitable in the past six months, making UK accommodation as the third most profitable in Europe.

Extraits

[...] Moreover, London can hope effect on the long term as for Beijing or Barcelona, cities who's the popularity had grown around the world because of the Olympics. On the contrary, some people condemned the organization of the Olympic Game affair as a waste of taxpayer money. Indeed, according to some studies the total cost of the organization of the Olympic Game is estimate around billion pounds. It represents an important investment especially with the actual economic context which is difficult and the United Kingdom is not sure that it will make profit at least. [...]

[...] Indeed, according to the MailOnline per cent of the hoteliers described their business as profitable or very profitable in the past six months, making UK accommodation as the third most profitable in Europe. Moreover, according to the telegraph the Olympic Game creates and supports a total of jobs across the UK with. Some of them are direct employment for the Games and permits to developing skills of the working population that help raise their prospects of jobs in the future. [...]

[...] What are the effects of the organization of the Olympic game on the UK economy? Indeed, the History shows that the Olympic Games have a mixed financial profitability: for example, the Munich Olympics (1972) or the Montreal Olympic (1976) have led to heavy losses, while those in Los Angeles (1984), Barcelona (1992) or Atlanta (1996) have all generated profits. To start, the Olympic game could have a positive effect on the UK economy. To start, it permit to revive the tourism in London with is it new status as an Olympic city. [...]

[...] Moreover, according to Sir Mervyn King the impact of the Olympics may not be long lasting on the economy and the impact on the confidence may give a boost on the economy but the games can't have an impact forever on the consumer confidence especially in the actual economic situation. Besides, the expectations about the tourism are not so good. Indeed according to a survey directed by TripAdvisor among the UK hotel owners per cent of the hoteliers say that the game would have no impact on their business. [...]

[...] To conclude, it is too early to establish the real impact of the Olympic Game on the UK economy. Indeed, the Olympic Game has a quite positive impact on the UK economy but it is not reach the objectives of the country. Indeed, the organization cost lot of money and in the same time we don't know if that effect will keep going on the long term. In the other hand, the Olympic game created various jobs, give a “happiness effect” on the population and permit to regenerate some part of the city. [...]