Academic and Professional Skills Sample Assignment (GC02008)

Table of Contents

1.0 Introduction.

2.0 Analysis.

2.1 Economic Impact

Job create.

Cost to the taxpayer

Future trade.

2.2 Environmental Impact

Carbon footprint and pollution.

Sustainability.

2.3 Social Impact

Intangible benefits.

Regeneration opportunities.

3.0 Conclusion.

4.0 Recommendation.

References.

1.0 Introduction

A global Event can be defined as an event where every country in the world can participate. The global event is also created international communication and connected people through live events. Leslie (2018) stated that the Olympics are one of the largest global games or events that is hosted by a country and other countries are joining in the competition. In the case of bidding of Olympics, the main issue is the positive and negative impacts of Olympics (Alexander, 2018). The main reason behind this global event is to arrange a global competition field and establish a global and friendly relationship with people of different countries. The Olympic Movement covers the main contribution to creating a peaceful world by connecting youth through arranging several sports without any discrimination. The main spirits of the Olympics are relationship, friendship, solidarity and fair play (Burgo and Cromartie, 2019). The Olympic event also contributes to the sustainable growth of the economic and environmental world.

The host countries are also getting familiar and positive legacy by arranging this global event (McBride, 2020). After launching Olympics, the costs and profits of the hosting countries were increased. That is why; many countries were willing to arrange the Olympics in their own city. That is why; the main authority of the Olympics started the bidding and selection system with effective budget planning, transparency and sustainable investments and benefits. Curtis (2018) stated that the host of the Olympics is a very challenging task for a country because it has needed the arrangement of several functions. The costs factors are also engaged here. Therefore, every country should analyze the challenging issues to host Olympics in their own city. The main aim of this report is to analyze the various impacts of hosting a global event like the Olympics and provide some recommendations for maximizing the benefits and minimizing the challenges of hosting the Olympics.

2.0 Analysis

2.1 Economic Impact

The report is prepared to analyze the various impacts of hosting a global event like the Olympics and provide some recommendations for maximizing the benefits and minimizing the challenges of hosting the Olympics. The arrangement of the Olympics has several economic impacts on the host country. Some of the impacts are described.

Job create

An important positive economic impact of the Olympics is creating job opportunities for the unemployed people in the host country (Gentry, 2018). From the background, it has been found that Atlanta, Georgia has arranged the Olympics and created more than 7000 job opportunities for the people.  The main sectors of jobs include the hotel industry and lodging and food industry. The construction and physical infrastructure sector also create a huge amount of jobs due to hosting the Olympics (Burgo and Cromartie, 2019). The host country requires building a large stadium that needs a large number of workers. The unemployment problem is the most serious problem for every country that can be sharply reduced by the arrangement of the Olympics. The people are getting qualified to act as an employee in the Olympics event. McBride, J. (2020) stated that the increase of huge job sectors has increased the potentiality of Olympics events and developed the country’s economic sector effectively. However, the arrangement of the Olympics requires a huge amount of money that increases the financial risk of the host country.

Cost to the taxpayer

Another economic benefit of hosting the Olympics is that the ultimate costs of the events are carried by the taxpayers and services taker (Burgo and Cromartie, 2019). The host country needs not bear the extra costs of the event. The host country bears all cost of arranging the Olympics and set the price of tickets and other issues by adding the profit and tax. Therefore, the participants and audiences bear the ultimate costs of the Olympics. In the case of Georgia, this country was arranging Olympic Games and the cost was 189 million US dollars but this country also gained a higher return from this investment (Olympic World Library 2020). Additionally, the cost of taxes also was bearded by the ultimate service users and taxpayers (Shin, 2017). However, it is a quite satisfactory investment but the mismanagement can bring several negative outcomes for the host country (Curtis, 2018).  The lack of adequate funds and return from the investment can fall the host country into financial distress position.

Future trade

The Olympics has several impacts on the future development of the host country. The host country is familiar to all people in the world (Burgo and Cromartie, 2019). The people also visit the website of this country and find the potentiality and historical places of this country. It will increase the tourists of the country and positive impact on the business of host countries. The Olympics will increase the sales, brand image and customers loyalty of the business industry of the host country. Shin (2017) stated that the business firms of the host country can buy the sponsorships of the events and advertise their products and services that are watched by the global people…………………………

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