International Business

Perryman, Mark. Do the Olympics Boost the Economy? Studies Show the Impact is Likely Negative, The Daily Beast, July 30, 2012. Retrieved August 6, 2012, from The daily Beast. http://www.thedailybeast.com/articles/2012/07/30/do-the-olympics-boost-the-economy-studies-show-the-impact-is-likely-negative.html.

Mark Perryman conducts research in sport and leisure culture at the Chelsea School, University of Brighton, and he has also authored the book Why The Olympics Aren’t Good For Us, And How They Can Be. The opening of the article describes the enthusiasm of London in winning a final bid for the summer Olympics of 2012, and the author explains how the enthusiasm of the people overshadowed the financial implications of hosting such a large scale event. The infrastructural modifications necessary to host such an event comes with substantial financial expense. The author uses the argument that these infrastructural modifications have historically been funded by financing public funds, and he worries about the long term economic impact of such huge undertaking in these times of economic uncertainty. The article describes the past financial short comings of host cities dating back to 1984, and he premises this argument on the fact that the Olympics became more commercial during this time. Although the past does not always repeat itself, the author paints a grim picture of the potential financial impact of the Olympics in London. As a result, this article provides a good historical perspective of past Olympics, and it is an outstanding starting point for one to get a good historical look at financial implications of hosting such a large scale event.

PricewaterhouseCoopers European Economic Outlook. The Economic Impact of the Olympic Games, drexel.edu, June 2004. Retrieved August 6, 2012, from pages.drexel.edu.

http://www.pages.drexel.edu/~rosenl/sports%20Folder/Economic%20Impact%20of%20Olympics%20PWC.pdf

Price Waterhouse Coopers is one of the most renowned contributors to strategic financial investments, and they compiled a report describing the long and short term impacts of hosting the Olympic games. The report begins with a detailed analysis of all the costs associated with hosting as well as the “legacy effects.” Infrastructure, tourism, and opportunity costs are all laid out to the most minute detail. One of the best aspects of this report, is the financial balance