This portion of the study will place the economic effects which are split up into three stages ; the pre Games. the Games and the station Games economic impact on the host metropolis ( Athens ) and Country ( Greece ) . The Olympic Games is such a large event that it can potentially hold a important economic impact on the host metropolis. and. for the smaller states like Greece on the host state as a whole. The existent games last for merely a few hebdomads but readyings for the games may get down up to ten old ages ahead and may affect big investing expenditures that can hold longer term economic significance.
The economic impact of the Olympic Games relates to the wider effects of the Games on the general economic system originating from associated factors such as increased touristry and improved substructure. Clearly for big economic systems the economic impact of hosting the games is likely to be important chiefly at the local or regional degree. But for a smaller economic system like Greece. these effects are likely to be felt besides at the national degree. As mentioned before the full economic impact of the Olympic Games on a host metropolis is spread over clip ; and can be split up into three stages ; the pre Games impact. the Games impact and the station Games impact.
Pre Games Economic Impact
The pre games economic impact foremost get down to happen shortly after the metropolis has decided to offer for the Games. up to a decennary prior to the existent event. But become more important after the Games are rewarded. The impacts here relate chiefly to the investing and preparative activities required to present the Games. but touristry could besides get down to pick up in progress in some instances due to a higher profile of the metropolis. The cardinal economic benefits and costs of the pre Games stage are touristry and building activity as benefits and investing outgo. preparative operational costs which include the command costs and lost benefits from displaced undertakings as costs.
Games Economic Impact
The Games impact refers to the impact of the Games and the associated events instantly environing them. The cardinal economic benefits and costs of the Games stage are touristry. bowl substructure. Olympic occupations. and grosss from Games which include Television rights. tickets. and sponsorship as benefits. While the costs for the Games stage are operational outgo associated with the Games. Congestion and lost benefits from displaced undertakings. The Post Games Economic Impact
The station Games impact refers to the longer term impact. frequently referred to as the ‘’Olympic Legacy’’ . This stage can last for at least a decennary after the Games. This stage chiefly relates to the post- Olympic touristry and substructure events. The cardinal economic benefits and costs of the station Games stage are touristry. Stadiums and substructure. Human Capital. Urban regeneration and international repute as the benefits. The costs of the station Games stage are the care of the bowls and substructure and besides lost benefits from displaced undertakings.