The Economic Impact of the Olympic Games

The Economic Impact of the Olympic Games With the Olympic games being held in Sydney this year, I wondered if perhaps the performance of the frugality was being moved(p) in part by the fiscal stimulus provided by Olympic construction in Sydney and other parts of the country. Australias economy has been performing well recently, suggesting that there might be about effect. Over the last five years, growth in Australias arrant(a) domestic product has intermediated 4.35%, almost a full quest above its thirty year annual average of 3.5%, and the unemployment reckon is near a ten year low. According to angiotensin converting enzyme estimate, the Olympics will tack on an additional six and a half billion dollars, about 1.6% of the gross domestic product, to Australias GDP over the 1994-2000 period. A natural question to ask is if this growth is due in the main to the Olympic preparation, or if, instead, it is a result of some other change in policy, or perhaps just simply old luck. One way to address this question is to count if other host countries have experienced increases in GDP around Olympic years. Below is a graphical record of sensation measure of the boost to GDP that countries receive from hosting the Olympics. Each capitulum represents the average, over all of the host countries since 1952, rate of growth of GDP.

What this graph suggests is that prior to the Olympics and during the Olympic year GDP growth is high than average - maxing out at nearly 1.5% above average GDP in the 3rd year before the Olympics. This issuing seems consistent with the estimates for Sydney - at least prior to the Olympic year. However, the graph also suggests that growth rates are lower in the years after the Olympics, than in the years prior to the games. The frugal benefits of the 2000 Olympics can be classified as direct and indirect. moderate benefits include the impact of the Olympics on exports, investment and employment. In toll of exports, the main impact will be inbound tourism, sponsorship fees, media curriculum rights, and ticket sales. The... If you want to get a full essay, locate it on our website: Orderessay

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