Economic Impact of the Olympic Games Coursework

Economic Impact of the exceptional Games - Coursework ExampleThus this study contains a detailed economic analysis of the host countrys economic activities that be directly and indirectly attributable to the conduct of majestic Games. The study demonstrates that the economic benefits of the exceptional Games can be influenced by government policies and both the government and the business community would focus their efforts on strategic policies and initiatives in order to maximize the long term gains to the host country in particular (Kirkup, 2006). However its the collect demand and supply shift that matters so much in this analysis. Thus the long term impacts of the Olympic Games on the host countrys economy include,Olympic Games can be set in three phases such(prenominal) as, the pre-games phase, the games duration and the post-games phase (Caimbridge, 1998). In the first phase it is characterized by two different impacts which are associated with Olympic Games, such as th e construction and associated infrastructure of the Games site. And in the duration of Olympic Games there would be a monumental improver in international visitors to the host country in particular. During the post-games phase there would be a significant improvement in inbound tourism in the host country. As with the past times experience of countries like China, Canada and others, it has been recognized that there would be an amplification in labor productivity in the post-games period though its real impact on the domestic economy is uncertain (Bing, 2002). With the Olympic Games it would profit aggregate demand through construction activity, additional tourism, sales and Olympic Games related outputs e.g. export of the Olympic television rights, Olympic promotion and ticket sales and so on.A significant number of factors have been identified in relation to the micro economic impacts of Olympic Games, such as conditions in the labor market. e.g. engage rates and the sources of Finance. e.g. price changes. As a result of the Games the Gross Domestic Product (GDP) and additional jobs would increase in the year of Olympic Games (Holger, 2004). These jobs are identified as part-time and full-time jobs and people would abstemious to find the works in such Game periods. As such, it would boost the productivity of labor and payoff rates would increased due to the Olympic related construction and projects. There is also a significant increase in outcomes of the service industry including transport and communication, finance, housing sector, tourism and so on (Peter, 2005). alien exchange rates can be affected by the Olympic Games because when the exchange rates increase potential foreign investors would buy the domestic currency