First Faculty Advisor
Olympics; Host City; Costs; Benefits
In the eyes of a host city, the reason to host the Summer Olympic Games has evolved from shining glory on athletic feats to receiving the perceived benefits from the opportunity. In the current times, there are a record number of Olympic events generating a demand for the construction of a larger amount of Games facilities than ever before. However, nations still vie for the winning bid to host the Olympics in one of their cities. This paper seeks to show that the costs of hosting the Games outweigh its tangible benefits. In detail, it will look at the financial, political, and social costs and benefits of hosting the Olympics and examine how they impact the host city. Then the perceived benefits of hosting the London Olympics will be examined. Specifically, this paper will show that the costs of hosting the London Olympics outweigh its tangible benefits, especially in times where the world is in a global recession. Overall, the purpose of this project is to present the drawbacks of hosting the Olympics. It concludes with suggestions on how to make hosting the Olympics a more cost-effective endeavor.