The Economic Impact of the Olympic Games
Abstract Since de Second World War , there has been a substantial increase in the range of events worldwide, varying from single day fetes and fairs to major sporting and cultural festivals.
Special events are seen to have the ability to produce a wide range of significant economic and social benefits for communities and regions. In seeking to understand the field of special events, I took as a case study the Olympic Games mega-event.
KEYWORDS: special events, Olympic games, mega-events, economic impact, investments
INTRODUCTION
The fundamental aim of this research is to measure the economic impact of the Olympics globally, regional and local. During the 1990s, there has been a growing number of people advocating a move away from mass tourism to forms of tourism that will be sustainable and will deliver greater economic benefits. Often these alternative forms of tourism have been categorised as ‘special interest tourism’, the important characteristics of which have been claimed to be low volume and high value (Hall 1995). There are many forms of special interest tourism including ecotourism, heritage tourism, cultural tourism, adventure tourism, rural tourism, industrial tourism and special event tourism.
Therefore, the global special events market grew up rapidly to saturation. In order for the special events to survive in a saturating market, it become more important for special events to be tailored specifically to meet the needs of the consumer. This requires a detailed understanding of the consumer behaviour in relation to special events.
THE GLOBAL ECONOMIC IMPACT ON THE TOURISM DESTINATIONS
The Olympic games are international mega-sports events which are televised globally. Although they are one-off events, they contribute significant economic benefits to the host cities (Gratton, et.al 2000). The Ancient Olympic Games began at Olympia in Greece in 776 BC and continued until the Christian Emperor Theodosius 1 aboolished them in
Special events are seen to have the ability to produce a wide range of significant economic and social benefits for communities and regions. In seeking to understand the field of special events, I took as a case study the Olympic Games mega-event.
KEYWORDS: special events, Olympic games, mega-events, economic impact, investments
INTRODUCTION
The fundamental aim of this research is to measure the economic impact of the Olympics globally, regional and local. During the 1990s, there has been a growing number of people advocating a move away from mass tourism to forms of tourism that will be sustainable and will deliver greater economic benefits. Often these alternative forms of tourism have been categorised as ‘special interest tourism’, the important characteristics of which have been claimed to be low volume and high value (Hall 1995). There are many forms of special interest tourism including ecotourism, heritage tourism, cultural tourism, adventure tourism, rural tourism, industrial tourism and special event tourism.
Therefore, the global special events market grew up rapidly to saturation. In order for the special events to survive in a saturating market, it become more important for special events to be tailored specifically to meet the needs of the consumer. This requires a detailed understanding of the consumer behaviour in relation to special events.
THE GLOBAL ECONOMIC IMPACT ON THE TOURISM DESTINATIONS
The Olympic games are international mega-sports events which are televised globally. Although they are one-off events, they contribute significant economic benefits to the host cities (Gratton, et.al 2000). The Ancient Olympic Games began at Olympia in Greece in 776 BC and continued until the Christian Emperor Theodosius 1 aboolished them in
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