Microeconomics Case Study

The Economics of Hosting the Olympics

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Abstract:
A fortnight-long extravaganza of sporting events, records, medals and tears, mesmerised audience, spectacular stadiums, floodlit-bathed city centers, folks from across the globe, scintillating structures and breathtaking moments. Thus goes the description of the Olympics for the general audience. However, for the economists, it translates into billions of dollars invested in infrastructure and thereby injecting a growth pill into the economy.

Pedagogical Objectives:

To discuss the short and the long- term economic benefits that prompt nations to bid for Olympics despite the colossal investments involved.

Keywords : Microeconomics Case Study, The economics of mega sports events, Olympics, The economic impacts of the Olympics, Non-recurring expenditures, Economic boom before the Olympics, Athens Olympics, Beijing Olympics, Infrastructural development and Olympics, Capital investment in Olympics, Economic growth cycle, Urban development due to Olympics, Countries bidding for Olympics, Economy after the Olympics, Effects of Olympics on gross domestic product and growth rates, Broadcasting rights of Olympics