Olympic Finance

Name: Linting Zhu Student number: 40293705    Since the development of modern Olympic movement, the main expenses of the Olympic Games have to be paid by the finance of the host city and the country. The maintenance of the balance of the Olympic Games depends on personal donations and ticket income of the venue, which is far from enough.   Before the 1980s, every Olympic Games brought a certain degree of debt to the host city, and the Olympic Games became a real loss goods at that time. Especially after the Montreal Olympics, few cities are willing to bid for the Olympics.    At the 1984 Los Angeles Olympic Games, as the chairman of the U.S. Olympic Organizing Committee, Ueberroth boldly created the business operation mode of the Olympic Games, and the Olympic Games realized real profits for the first time in that year.  Peter   Ueberroth   brought the Olympic Games back from the brink of "decline" and turned the Olympic Games from losing money to...

Rui Zheng 40283697 In different historical periods, different places, the scope of influence of the Olympic Games is also different. After World War II, with the continuous development of sports towards industrialization and popularization, the Olympic Games has already gone beyond the scope of sports competition and become the driving force of social and economic development of a country. As a kind of cultural and sports activities, the Olympic Games have a certain economic value. The stimulating effect of the Olympic Games on investment and consumption, and the national cohesion stimulated by the holding of the Olympic Games will affect the social and economic development of a country to varying degrees. Japan is the first country in the world to promote rapid social and economic development with the help of the Olympic Games. The 1964 Tokyo Olympic Games not only showed the world the revival of Japan, but also opened the prelude to the rapid economic growth, which became an importan...

  Name: Yuze Liu Student number: 40308986 As a worldwide sports event, the Olympic Games' influence is not limited to the sports competition among countries. The national cohesion stimulated by hosting the Olympic Games can promote economic development. For example, The Tokyo Olympic Games in 1964 showed the revival of Japan to the world, kicked off the rapid economic growth, and became an important milestone in Japan's economic development. Whether in construction, transportation, or tourism, the construction of these infrastructures still plays a vital role in Japan's social economy. I will introduce the expected economic impact of the Olympic Games on Japan in two aspects. The first is the expected economic impact of tourism. The second is the expected economic impact of construction investment. Tokyo 2020 unveiled updated V4 (version four) budgets for the Olympic and Paralympic Games Tokyo 2020 with the Tokyo Metropolitan Government and the Government of Japan.  Includi...

By Erin Larmour The economic benefits of hosting the Olympic Games have been subject to scepticism in recent decades. Several host cities have historically found themselves burdened with debt in the aftermath of the Games after incurring huge cost overruns on infrastructure and maintenance liabilities. This is exemplified by the notoriously expensive Sochi Game’s in 2014 which overran costs by 289 per cent and the Athens 2004 Games, which contributed to the weakening Greek economy and financial crisis in 2007 (Flyvbjerg, Stewart and Budzier, 2016, p2-13). There is significant extant literature to illustrate the negative economic impact of the Games, with a group of researchers from Oxford University even equating the financial risk of hosting the Olympics to that of natural disasters or terrorist attacks (Flyvbjerg, Budzier and Lunn, 2020, p9). However, we must consider the economic impact of the Tokyo 2020 Olympic games as a case apart when coupled with the ongoing coronavirus pandemi...

We are a group of #MScBloggers studying Management at Queen's University Belfast. We are launching this blog to provide insight into all things Olympics and Finance . We aim to provide information on the financial side of the Olympics, which w e hope you will find interesting, topical and learn something along the way.  Happy reading!