The Olympic Games evoke emotions of pride, sportsmanship, excellence, fairness and competitiveness. Every athlete dreams of representing their country in the competition. The games have been a pillar of international goodwill among countries, hence the global acceptance and longevity. Despite its prestige, the International Olympic Committee (IOC) is having a difficult time getting countries to host because of the long-term economic economic impact. What are hosting Olympics pros and cons?
Hosting the Olympics, Pros
There are several benefits to hosting the Olympics.
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Tourism Boom
With athletes from different countries flocking to participate in the games, the hosting country benefits financially. When Brazil hosted the games in 2016, it set tourism records of 6.6 million which accounted for a spending of $6.2 billion, per Britannica. 56% of tourists were first-time visitors to Brazil.
After the London 2012 Games, tourism and spending in the United Kingdom increased by 12% and 13% respectively. The 1996 Olympic Games in Barcelona sparked the city back to life, and over the years, it developed to become one of Europe’s best cities.
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Boost a Country’s Trade
Hosting countries can negotiate with mega-global economic organizations as it is a sign that the nation is open to trade, boosting local economies. After Beijing received the 2008 Olympics hosting rights, China formalized its negotiations with the World Trade Organization (WTO) committing to trade liberalization.
In 1964, Japan got a seat at the International Monetary Fund (IMF) after acquiring the hosting rights. After Rome won the 1960 games, it joined the United Nations and eventually led to the creation of the European Economic Community (EEC), now the European Union (EU).
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Symbol of National Pride
When you watch your country compete at the Olympics, it sparks a sense of pride and togetherness. Winning gives you recognition and respectability such that other countries realize what you are good at. My country Kenya is renowned for athletics and in Paris, we have a field of experienced runners expected to win medals. Eliud Kipchoge, arguably the greatest marathon runner ever, will attempt to win a third successive Olympic gold medal. No man in the marathon has done this. His win is my win.
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Inspires People to Play Sports
The Olympics births new names. Unknown athletes display their talents to the world and get their breakthrough. This inspires others to take up sports in the hope of becoming successful. Additionally, it fosters the sporting culture of a country, enabling it to continuously produce world beaters.
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Hosting the Olympics Cons
Just like there are positives to hosting the Olympics, there are negatives, which have overshadowed the games.
Financial Strain
Hosting the Olympics is an expensive affair. It demands an astronomical budget, and the host is responsible for it. Britannica reports that no Olympics since the 1960s have been within or under its budget. The Tokyo 2020 Summer Olympics is the most expensive games in the event’s history, costing 200% more than its original budget. At the time of bidding, the forecast expenditure was $7.3 billion but the country spent $15.84 billion.
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It took Montreal 30 years to pay off its Olympic costs and spends around $17 million to maintain its Olympic Stadium. In 2014, Sochi spent $58 billion, despite a $12 billion budget. Brazilians protested when the country bid to host the games in 2016 because of the high costs of the game.
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Idle Sports Facilities
Host cities are forced to build new infrastructure, from stadiums, roads, rail networks and other amenities to house athletes. Some of these are specialized facilities that will only be used during the games and after, are left lying idle, costing taxpayers money due to maintenance costs.
The $109 million Olympic stadium built for the Pyeongchang Games was demolished after hosting four events. The athletes’ village in Brazil that cost $700 million is a shadow of what it was meant to be and the Olympic park couldn’t get a buyer and lies empty.
The Bird’s Nest Olympic stadium remained empty for a long period after the games but is now used for sporting activities and events. It costs $11 million to maintain.
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Burdens Locals
To create new venues and hosting facilities, residents are forced out of their homes. This was the case ahead of the Olympic games in Brazil and China. It threatens the lives and livelihood of people who might not be fully compensated by the government, to parade an event, that eventually disadvantages them.
Damages a Country’s Reputation
The point of hosting a global sporting event like the Olympics is to enhance your reputation. However, it can do the exact opposite. When misdemeanours like theft or violence happen, it hurts the perception of the country. Furthermore, this research shows that people’s view of a country might not change after the Olympics. Locals can also use this period to protest over their country’s internal issues, hoping to bring them to international attention.
These are hosting the Olympics pros and cons. You wouldn’t associate it with negatives, but as demonstrated above, the games have a long-term impact on a country. However, some countries like China and Russia use the summer games to build their credibility. Would you want your country to host the Olympics?
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