Economics of Sports

Faster, Higher, Stronger? Not Necessarily! 1a there area loads of Ex-ante stir studies that try to predict the economic benefits of phalanxing major(ip) events and this is where the most of the confide and competition to hold these events comes from. These type of studies in which Coates & Humphreys (1999) happen upon as being mainly predictive in reputation say that one of the biggest benefits from hosting major event is the influx of foreigners approach shot over in that 2 week or a month period of the event. In that period alone we carry to witness the highest levels of tourism expenditure. For example when London won the compact to host the 2012 Olympics it was predicted that the visitor economy will benefit by £2bn (VisitBritain). A report conducted by PriceWaterhouse Cooper claimed that the tourism industry would benefit from legacy effect in three stages. These stages would be before the event; during the games, with the demand at its peak, and afterwards the event when the increased flow of visitors may last for several(prenominal) years.

Matheson and Baade (2004) extend this by adding that major event allows the host to put the country (or city) on the map, providing signifi trickt international word-painting [and discuss the possibility that events] can also be seen as political events that serve to showcase the economic, political, and cultural power…or as a signal that a country has arrived as a major figure on the international scene. This can said about the 2002 World Cup in japan and South Korea and even more recently South Africa in 2010, but do cities like London really essential to be put on map or undefended to the international world? Another main reason wherefore countries put such a high value on the hosting of these events especially governments is due to the stressing of the Keynesian benefits of spending on infrastructure, creating jobs and change magnitude incomes (Financial Times). As Szymanski (2009) explains government see spending in these major events as a way to boost... If you want to get a full essay, order it on our website: Orderessay

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