Olympic Games, more than just fun.
Hi all. This is the season for Olympic Games, and I know many of you guys are having tiring days these days. Your clock is switched to London, right? We, as just the watchers of the exciting games and cool matches, are enjoying the Olympics as one of the international festivals. However, the Olympic Games are more than fun, considering the following economic impacts. These impacts are varying, from positive to negative, depending on the host countries’ budgeting and plans.
Some countries, such as Korea, the US and Australia, gained positive economic outcomes brought by hosting the Olympic Games. By how much? Korea earned nearly $26 hundred million when hosting the Seoul Olympic Games in 1988. Along with such a huge economic gain, Seoul also became a world-class city and received fabulous reputations from the overseas visitors. However, in some cases, host countries are faced with deficit after hosting the Games. The well-known example is Athens Olympics in 2004. The over-investment in Olympic Games led to negative financial stance in Greece. When you are spending too much beyond your limit, you are to be trapped in a debt. It’s just same for a country. Over-expenditure, without due consideration, leads to budget deficit. Simple, but important lesson? Spending needs a due consideration!
We are not yet to know about what’s going to be the overall impacts of London Olympics. Well, am I bringing so serious concern over the exciting festival? Then I will be back with more interesting Olympic talk soon ! 🙂
Have fun tonight with your favorite match!