Olympic Games

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I. Introduction

Thesis statement: Hosting Olympic Games in London are beneficial for the social and economic development of the host city and the whole region.

II. Body

A. The economic concerns of London 2012 are less obvious than business benefits from the games

1. Expenses on the Games

a. 1976 Olympic Games as an example of financial disaster

b. Ten times increase of original budget

c. Increasing debt burden of London city

2. Economic benefits and legacy of London 2012

a. Direct revenues from hosting the Olympics according to LondonNet

b. Blake's analysis of Games’ influence on both GDP of London and UK

c. Price Waterhouse Coopers report on the reasons of the growth

d. Economic benefits of the Olympics to the tourism industry

e. Economic forecast on tourism of VisitBritain

f. Regeneration of the investment profile according to Matthewman

B. The improvements of tourism and transport infrastructure will help to avoid promlems in this field and promote the development of the region

1. Additional load on London's tourism infrastructure and transport systems

a. British Hospitality Association's suggestion

b. Threat to common Londoner’s way of life and business activity

c. Criticism of transport system by IOC

2. Changes in the public transport system since the initial bid

a. "Olympic Javelin", and legacy of other improvements

b. Impact of the regeneration of Stratford on infrastructure of east London

c. Latest transport strategy of the Mayor

d. £2bn award of tourist revenue on infrastructural improvements

C. The Games will promote social enhancements such as healthy lifestyle and cultural awareness

1. Brian Martin's arguments against Olympic Games

2. Boris Johnson’s view on social and cultural impact of the Games

3. The impact of the Games according to London2012

III. Conclusion

To conclude, the economic, social and non-material benefits of hosting Olympic Games in London obviously overweight the counter-evidences in the financial and infrastructure spheres.

The debates about the necessity of the upcoming Summer Olympic Games in London are widely discussed by politics and economists not only in Britain, but in the whole world. This issue is very important because it helps to understand the fundamental motivations to host the Olympic Games as well as the other Mega events and evaluate their positive outcomes the host city and country without any bias. A variety of arguments, including the evaluation of the expenditures on this event, together with the social and infrastructural concerns, economic and social impact will be offered about this issue. It will then put forward reasons for hosting Summer Olympic Games in London in 2012 because of the benefits in both economic and social areas.

It is often argued that hosting the Olympic Games is a very expensive step in terms of money spent on building infrastructure for both sportsmen and spectators of the Games. Now, many opponents of holding the Games say that the merely possible financial losses are the reason for cancellation of the Games. One of the most obvious intimidating examples of financial problems caused by such events are the 1976 Olympic Games, when poorly managed Games’ development caused the bankruptcy of the city when work had fallen far behind schedule, as well as the debts had been discharged only 30 years after the Games. Concerning London Games, there is a tendency of permanently increasing the budget of the games. As Lea notices the words of former 2012 Games chief (2008), London 2012 could cost £20billion, which is ten times original budget, incremented “because of the land and security issues”. So, these expenses may become unmanageable debts for London, especially considering the fact that private sector is reluctant to invest...
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