Introduction

A global event, seldom referred to as an international event is an event that affects or brings
change into the entire world. As the word Global means worldwide, therefore an event that is
hosted globally can be stated as a worldwide event which has a huge impact on several countries
throughout the whole world. The development is in multiple sectors that include the
development of economic factors as well. Global events help in the growth of economy both
local and international. It helps in in bringing changes in the economic conditions of an area
along with the social development and environmental development of an area. Global events
bring opportunities of employment increases the chances of future trade. The present report
basically discusses about a global event which is Olympics. Olympics are an event that is hosted
in one of the countries and the entire world takes part in it. This is a global event that has a huge
economic impact on the country where the event is hosted. Olympics bring several opportunities
for the country where the event is to be hosted. Creation of job and chances of future trade are
two major important components which are seldom created by this Global event. This is a
positive perspective of the event as it helps in creating multiple job opportunities for the ones
who are unemployed. For example, the preparation of Olympics requires purchasing of several
raw materials from local businessmen who always have a chance to trade. It also creates job
opportunities for multiple individuals as conducting the event require participation of many.
However, it is also important to understand that there are seldom negative aspects like the cost
incurred in the paying of tax and the tax payer. The present report discusses about both the
negative and positive economic impacts of Olympics along with several other factors of
discussion.
Analysis
Olympics help in the entire economic development of a country where the event is being hosted.
However there are certain negative aspects that should always be noted while discussing about a
global events like the Olympics. The aim of the report is to focus on both the positive and
negative impacts that Olympics have on a certain country where the event is being hosted.
The Economic Impacts of Olympics
Positive impacts:
Job creations: Cities that host the Olympics always have an advantage of gaining temporary jobs
due to the need in the improvements in infrastructure that also continue to benefit the cities in
the future. For example, in the Olympics of Rio, there was a construction needed for more than
15000 new hotel rooms that could accommodate the tourists. Sochi had invested more than $42
billion to construct the infrastructure that was not at all related to sports however was linked
with the 2014 Olympics. Considering the case of Beijing, there was an expenditure of more than
$22 billion in the construction of airports, roads and railways. It is important to understand that
while the construction of these infrastructure that were not related to the sports however were a
part of the Olympics were constructed, it involved a huge amount of human force. The
requirement of human labor was high which helped in creating multiple job opportunities for
many individuals. When Olympics are hosted in a city there is also a necessity for
environmental cleanup that also requires multiple individuals. This creates a job opportunity for
the low and medium income class and also impacts on the additional revenue of the city.
Future trade: With Olympics being the most influential Global event, it is also very vital to
understand that it creates chances of future trade. Olympics help the local traders of the city to
increase their business within a certain period of time. When preparations for Olympics begin in
a country or a city, the time period that is taken is more than six months. Within these six
months the local businesses have a wide opportunity to try their materials. This also provides
them with an opportunity of future trade where if they provide good materials then there are
chances that they might build influential contacts. These contacts later become a source of
trading when there is conduction of smaller events in the City.
Negative impacts:
Cost of the tax payers: When a country hosts Olympics, they always set for a budget that is
completely dedicated towards solving the costs that are related to the event. It has been observed
that many cities have ended up being into huge debt due to the hosting of the game. Considering
the statistics of 2016 Olympics that was hosted in Rio, Brazil, it was obtained that the country
had been into w huge downturn of the economy. The Government of Brazil had authorized a
certain amount of money for the infrastructure of the 2016 Olympics however the entire cost
incurred was more than what was expected. This is a very common seen and has been observed
in several other countries. After the conduction of the Global event, it has been observed that the
countries are usually left with a great debt. The taxpayers of Olympics are usually these
countries who watched the entire game.
The impacts from an environmental perspective
Positive:
Sustainability: The positive impacts related to the impact form and environmental perspective
includes the factors of sustainability. It has been observed that when a city hosts a global events
like the Olympics there has always been betterment in certain terms of technological innovation.
With Olympics being a global event where multiple countries participate, the hosting country
also gets an advantage to get an exposure to several technological innovations that are not
present in the country or the city. This provides the city with an opportunity to explore into these
sections of technological innovations and leads to sustainable solutions for the betterment of the
environment. Long-term improvements have also been observed where technology played an
important role. It also includes the factors related to environmental awareness where interaction
between the delegates and the common people help in spreading awareness about the
environmental factors that can lead to sustainability. It is important to understand that with more
of human interaction, people learn more about advancement and new technology. Olympics give
a chance to the citizens of the hosting country to learn new things and implement them for the
betterment of the environment.
Negative:
Carbon footprint and pollution: When an event is organized in a particular area, it has been
observed that the carbon footprint and rate of pollution increases. Similar are the effects of
Olympics. When Olympics are hosted in a particular City, it has been observed that the rate of
pollution constantly increases in that area. This is so because during the preparation of
Olympics, a City goes through several in for structural changes. While getting the infrastructure
ready for the international event there are several works of construction that are necessary. As
the event is huge, the intensity of construction work also increases. This is so because the
hosting city has to be completely ready for the conduction of the event. In such case, the city
uses all its resources to conduct the international event. This involves the use of water, soil and
other natural resources. This leads to the increase in the rate of pollution and huge amount of
construction waste is usually generated. When Olympics are conducted in a city, the carbon
footprint also gets affected. It has been observed that all the cities that have had Olympics over
the past years had to go through the impacts of environmental pollution. The rise in the rate of
pollution is due to the changes that a city brings in itself to prepare for the international event.
Construction becomes a major issue for pollution as the materials that are not used in the
process of construction become a major reason for waste generation.
The impacts from a social perspective
Positive:
Intangible benefits: Global events usually have a positive impact from the social perspective.
Intangible benefits become one of the most important it impacts from the end of social
perspectives. Intangible benefits can be stated as the benefit that a particular individual or a
community has from a certain event or an individual which is not visible however the
improvements are observed among each other. Social cohesion is one of the best examples of
intangible benefits which are highly observed in an international event. Olympics help in
increasing social cohesion among the participants as well as the locals where the game is hosted.
Increase in social cohesion is observed in the city where people tend to adapt to the cultural
advantages that they learn from each other. Intangible benefits also include boosting of morale
where the citizens and the participants both are influenced by the rest of the world. It helps in
boosting confidence that people also learn about different cultures and open up to diversity.
Regeneration opportunities: Another impact from the perspective of social factors includes
regeneration of opportunities. For a city that is hosting the Olympics, it always has an
opportunity to regenerate the plants related to urban infrastructure. This also provides them with
regeneration of projects related to waste management, urban transports, water supplies and
more. Regeneration opportunities are also related to investments where people of one place
learn about these opportunities from others. Countries that are developing are still to get to the
exposure of regeneration opportunities and Olympics provide them with a chance to get an
exposure to these areas and learn from the rest of the world.
Conclusion
From the above analysis this can be recommended that every Global event has both positive and
negative impacts on a particular area. Olympics are one of the most influential Global events
that have impacted multiple cities many times. It is important to understand that every event
brings certain positives and certain negatives. For Olympics being one of the best International
events, the positive factors include creation of job, scope for future trade, sustainability,
intangible benefits like social cohesion, and regeneration opportunities. The negative impacts of
Olympics include the costs of the taxpayers, increase in pollution and factors related to carbon
footprints. It is important to understand that despite of both the positives and negatives,
Olympics always provide a chance of growth for multiple countries who participate and the ones
who host. To understand the factors of Olympics, it is always better to consider both the
negatives and the positives. This helps in understanding the advantages and disadvantages of
conducting an international event in a country and provides one with the best possible solutions
that they can implement if they are planning to host an event.
Recommendations
From the above study there are certain recommendations that are recommended to the
organizers who are willing to host an international event like Olympics. The recommendations
are:
 To reduce the effects of costs related to tax payers, it is recommended that or city that is
planning to host Olympics, should always increase their budget. An increased budget is
necessary as it will help them to include the costs within the desired budget. The budget
that they set for the Olympics should include every necessary detail which may or may
not be used in the game. This is so because a budget that already has an increased cost
and estimation will help the government to cover the entire event within the desired
budget. This will on the other hand reduce the risks of budget failure.
 To reduce the rate of pollution it is recommended that the city or the country where the
Olympics would be hosted should use sustainable materials in the process of
construction. Using recycled materials in the construction process reduces the chances of
waste generation and also works for pollution reduction.
 It is also recommended to the organizers that to reduce construction waste, they should
focus more on reusing construction materials. The organizers can connect to the
suppliers who are ready to supply reused materials. This will reduce the cost and will
also help reducing waste. Construction materials that are in good conditions can be
easily used for the process of constructing and improving infrastructure of a city.