Readers Question: Evaluate the arguments for and against the view that major sports events are good for the economy? (15)
Answer here: Costs and Benefits of Major Sporting Events such as the Olympics.
The presence of major sporting events can be controversial. Generally the benefits are not equally spread throughout the economy. For example, sports lovers, construction industry, hotels and the catering industry are likely to benefit the most.
However, opponents argue the benefits are relatively small, short lived and the cost of staging the games inevitably leads to higher taxes.
Personally, I am glad the Olympics are coming to London and I hope one day we get the World Cup again. Even if it is not wholly economically efficient, I think there are other important factors to consider.
- On a side note: I tried to search on google images for the Olympics logo (5 rings) and here in the UK, all I got was pages and pages of that really ugly, pink London Olympic logo. Sorry, but, it's really awful.