Economic Impacts of Beijing Olympic
Bird Nest and Water Cube:
We can all recall the opening of Beijing Olympic in Bird Nest where the gorgeous fireworks and fantastic shows were shown. As well as the Water Cube, an exquisite designed water stadium, which all the water competitions were hosted. After the 2008 Beijing Olympic, those multibillions infrastructures were put into use only a few times and for most of the time, they were empty. Some people believe the construction of those infrastructures was a one-time deal and will never meet the return. Some people believe that there is a bigger picture in building the Bird Nest and Water Cube and the return for the Beijing Olympic is a lot more time what China put in for the 2008 Olympic game. What exactly are the impacts of the Beijing Olympic game? Cost of hosting Beijing Olympic:
To understand what are the impacts on the Beijing Olympic game, we must first understand how much Chinese government put in for hosting the game. When China first bid on hosting the game, the estimated cost will be $2 billion. However, this number is only for the renovation and the construction of 74 stadiums for the event as a direct cost. According to Brad R. Humphreys in his article “Ring of Gold” the actually total cost for hosting the entire Olympic game including the non-sport infrastructures cost is about $41 billion. Compare with $16 billion that Greece spent, hosting the Beijing Olympic game spent 2.5 times more than Greece did. Where did China spend those extra $25 billion? According to my research, $26 billion were spent on transportation, $10 billion were spent on energy, $2.5 billion were spent on improving urban environment, $2.4 billion were spent on water resource. Beijing spent most of the money on transportation, which in Beijing the traffic was a nightmare. To improve the efficiency and avoid bad traffic for transportation before and after the Olympic game, Beijing refurbished 200 miles road and added 90 extra...
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