http://www.guardian.co.uk/uk/2005/jul/06/olympics2012.olympicgames1
Tuesday, May 10, 2011
2012 Olympics Could Boost the Economy
It is obvious that wherever the Olympics are held, there is big money. The Olympics can make a completely normal city into the spectacle of the world. It is very likely that London will see some amazing changes to its economy come 2012. I believe that the 2012 Olympics will inspire people to spend more, which will cause a tremendous boom in the economy. In 2008, China went so far as to construct entirely new buildings just for the games. If England chooses to follow in this path, new jobs will be created and people will in turn be happier. When the vote was final, Tony Blair called it a "momentous day for England". Also, because of the 2012 Olympics, many tourists and athletes from around the world will travel to London which will be a huge boost for the travel industry there. In conclusion, London is a terrific place for the games in 2012 and it will truly make the best of its much needed economic upturn.
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The only concern that this rises is if London actually does follow in China's footsteps and build entierly new buildings, London would have to increase the ticket price to ensure a profit. If they spend millions on these new buildings and the turn out is poor or ticket prices are dirt cheap, then there will be little revenue or little profit. However, the event istelf should make a lot of money for the local businesses. I agree, the attention that the atheletes and events bring is a huge economy booster for the hosting countries. Typically (not always) we see this happen with cities in America that host the Super Bowl, which is a much smaller event. So if we magnify those effects, then the economic boost on London will be huge.
ReplyDeleteI agree with both you and matt. There is a price to pay to host all of the tourists from other counties but at the same time they definitely make up for it with all of the money the tourists fork over.The Olympics will bring in many new jobs from ticket tackers, to souvenir stand clerks. Mostly the business around the sight of the olympic events will make great profit. The businesses will be able to increase prices because of the access demand there will be if they keep there prices the same. The only thing is that i don't think that after the Olympics the economic growth will stay the same but it will be a huge boost while the Olympics are present in London.
ReplyDeleteYes, the 2012 Olympics could boost the economy tremendously. The Olympics would stimulate the economy only if people would want to spend money. People would have to get out and take part. If doing so this could help our economy in a great way.
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