The feeling of patriotism has made the fanbase of the Olympics huge. The Olympics are organized in different countries every four years. The country in which it is organized is the host, and the city in which the event will be conducted is called the host city. Organizing the Olympics costs a fortune for any country. The 2020 Tokyo Olympics cost roughly $35.0 billion, which is huge. The host city is chosen by the maximum number of votes, by all of the member countries. The most crucial part to organize the Olympics is finance. If a proper financial plan is not constructed, then the host city will face problems to conduct the Olympics. No country ever has made a direct profit from it. The profit is in the form of employment generation, increased tourism, and the promotion of the culture. Know more about Are Olympics Worth It Financially For Host Cities?
What type of expense do host cities have to bear?
Before arranging any competition or Olympics for, instance, there are a lot of expenses that host cities have to bear. Expenses related to building stadiums, improving infrastructure, food, and beverages for participants, security cost, medical and sanitation services, and many more. These kinds of expenses are all indirect expenses. The direct expenses are sports equipment and other complimentary things. The host city also has to take care of lodging expenses, which includes the lodging expenses of all the celebrities and influencers hired for the opening and closing ceremonies and the coaches who have come along with the players. From basic sanitary needs to food, beverage and security have to be financed, with utter planning which costs a fortune to every city because these things are to be A graded, whether we are talking about quality or quantity.
How do the Host cities make a profit?
There is no such direct profit that host cities earn from organizing the Olympics, but there are a lot of hidden perks that host cities get to enjoy. Olympics contribute to the employment generation of the host city as there will be more work that needs to be done by people. From catering to lodging and security, everything needs to be taken care of precisely. It requires a lot of workforce to organize the Olympics smoothly, hence it increases employment. The Olympics also promote tourism in the host city as people all across the world come to take part in it and they also visit various famous places and as they are from different countries their people also get curious about the host city. Olympics also contribute to the promotion of the culture of the host city, as during opening and closing ceremonies various cultural performances including performing arts and dance, are showcased by the artist that enlightens people about it.
The benefits of hosting Olympics
Every day is an opportunity for a new start, to eat healthily, stay fit, train well, and be proud. The Olympics is about games, fitness, awards, and being proud of yourself. It is an international sports event where numerous athletes participate in a variety of games and compete against each other. The idea of the Olympics came from the ancient Olympic games. Modern Olympics are held every four years and a lot of people participate to represent their country. The Olympics start every year with an opening ceremony which they follow before starting any sport. Rituals of the Olympic flag and opening and closing rituals are the most important legacies, which are going on for ages. In the winter Olympics, competitions are held related to snow and ice skating. Winning medals in the Olympics is a matter of pride for any player because here you are representing your country and to win means you are brightening the name of your nation. Therefore, every nation want to host them.
Conclusion
Hosting and participating in the Olympics is a matter of pride for any nation that cannot be measured by the profit it generates. Although hosting the Olympics will not generate any direct profit for you, which is in terms of money, it surely will provide you with a lot of hidden benefits. Playing any sports has become a dynamic feeling of competitiveness, pride, happiness, and immense learning. You can learn countless lessons through playing sports which are very important in every person’s life. From patience, teamwork, and endurance to leadership every such skill you can excel in while playing sports. In today’s world when people are isolating themselves in the virtual world of social media, playing any sport is crucial to keep your real life alive.
FAQs
- What were the worst Olympics ever?
The worst Olympics in the history of the sports world was organized in 1972 in Munich, West Germany. People had to witness the murder of eleven athletes, coaches, and judges by the Palestinian terrorist group Black September.
