The economics of hosting mojor sporting events
Hosting major sporting events can bring a major economic boost for the country and cities who host the event. However, countries need to address a set criteria in order to make a bid for such events. For example to host the Olympics Games countries must ensure the following:
- They can cater for the size of the event (housing of athletes and staff)
- Construction of stadiums
- Transportation to events
- Media coverage
- Politician support
- Tourism
Benefits of hosting an event
- Build tourism
- Economic influx
- Eager to showcase city off to others
- Pride and patriotism
- Image as a global player
- Employment opportunities
- Increased funding for sports development
Economics of hosting an event
- Infrastructure; arenas, transport, accommodation
- Capacity to host
- Security; threat of terrorism- associated costs