Olympic Games Benefits

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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
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On the beneficial side there are short run benefits such as tourists spending money during their stay in the hosting country during the Games; long run benefits also known as the “Olympic Legacy” these benefits include foreign investments, infrastructure and trade improvements and increase in tourism value of the city / country after the Olympic Games; and lastly, intangible benefits which include civic pride for the country, so called “feel good effect”, and general pleasure from being a host to the most know sport and cultural event. On the other hand there are costs and expenses the Olympic Games are infamous for. These cost can also be divided into three categories: general infrastructure costs that are responsible for transportation of the athletes and fans, their housing and accommodation; next there are specific sports costs which include building as infrastructure required for specific sports and competition venues; and lastly operational costs such as opening ceremony which is a massive showcase, closing even and general admission and security. As a result, apart from civic glory, the Games can be considered successful in economic terms if log run benefits outweigh costs and
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