Olympic Games Benefits

Introduction

Olympic Games have been amusing people for centuries, and although there are no records that can verify the exact date of first ever Olympic Games, experts say that according to Homer’s Iliad the competitive tradition came much earlier than 776 B.C. and took place in ancient Greece. At first these games were for Greeks only, with woman, slaves and foreigners being not allowed, and now, centuries later, Olympic Games represent multiculturalism and democracy, and of course it is notorious for being incredibly expensive and hard hitting on hosting country economy. Every country is allowed to participate Olympic Games, no matter of the inner conflicts or even wars. Furthermore it is a great honor for any country to participate in

First ever Olympic games as they are known now where organized by the International Olympic Committee and where held in 1896 in Greece, Athens. Following its’ tremendous financial success, Committee finds a way to minimize the divisions among professional athletes and amateur, in order for the whole world to participate freely. Thus the era of financial pyramids, in other words, Olympic Games, has begun.

The purpose of the following essay is to answer the question, whether or not an Olympic Game is beneficial to the hosting country and in order to answer set question it is important to use unbiased information so that the essay stay factual and relevant. Evidence will be gathered and sorted into different groups, because the question should be answered from more than one point of view, such as economic, social, political and etc. and in order to not be biased or untrustworthy both positive and negative aspects of these factors should be

One of the biggest concerns for the city / country when hosting the Olympic Games is for the event to be financially successful, and there is a reason to worry. According to (Muller, 2014) “…the Sochi Olympics will continue to be a burden for the Russian state, with expenses for operation, maintenance, and foregone interest and tax revenue in the order of $1.2 billion per year.” As a result of that, the legacies that Sochi Olympics left was outweighed by corruption, bad decision making and support among domestic population dropped significantly over years. Furthermore as Russian population was hoping to improve the image of their country in the world, but the event did not manage to fulfill these hopes. Both in 2010 and in 2013, a majority saw the negative impacts from Olympic development overshadow the positive ones (Müller 2012, Vetitnev and Bobina 2014) Moreover construction costs can be underrated or miscalculated and as a result, costs can go severely over the budget. The best or more like an infamous example would be 1976 Montreal Olympic Games, which ended in disastrous debt that Montreal managed to pay off only by