The effects of the organization of the Olympic game on the UK economy
- Olympic game
- UK economy
- The effects of the organization of the Olympic game on the UK economy
Every four years the Olympic Game takes place in different country. The choice of the country is very strict and lots of countries are competing to be the host of the Olympic Games. Indeed, it is a big opportunity for them because it represents important economic issues for the host. In 2012, The United Kingdom was the organizer of the Games. So in the actual economic context, we will try to respond to the following question. What are the effects of the organization of the Olympic game on the UK economy? Indeed, the History shows that the Olympic Games have a mixed financial profitability: for example, the Munich Olympics (1972) or the Montreal Olympic (1976) have led to heavy losses, while those in Los Angeles (1984), Barcelona (1992) or Atlanta (1996) have all generated profits.
To start, the Olympic game could have a positive effect on the UK economy. To start, it permit to revive the tourism in London with is it new status as an Olympic city. However, real impact from tourism is in the years after the Games. The tourism in London will not be attractive only for the tourism but also for business conference or sporting events or example. Indeed, according to the MailOnline, 79 per cent of the hoteliers described their business as profitable or very profitable in the past six months, making UK accommodation as the third most profitable in Europe.