World sporting events are held in some emerging economies countries to boost
By carpediem17
@carpediem17 (1315)
Singapore
August 9, 2010 11:02am CST
their economy and infrastructure besides sports in itself. For example the Summer Olympics in South Korea and Beijing and the just concluded World Cup in South Africa. The forthcoming Commonwealth Games will be held in New Delhi.
Do you think that these emerging economies have benefitted from these world sporting events or they have sunk into major debts in building these massive infrastructures and employment of labour.
2 responses
@sjlskl (3382)
• Singapore
9 Aug 10
I think it will economy instead. Take for example China. They have spend large money building the infrastructure and organizing the Olympic games. Yes, they have spend large amount of money. But it had created jobs for the countrymen. Moreover, will the infrastructure in place, they could be in line to host another gala event. It was not too long ago that China had stated her intention to host the 2022 World Cup (I can't remember the year thou).
@carpediem17 (1315)
• Singapore
10 Aug 10
hi sjlskl and bmp, I think China has benefitted quite a bit from the international exposure to the world due to the Olympic Games. Fortunately for China, its country is buffered with enough money to fund these public expenditure.
But so far the Bird's Nest has become very much an icon on the tourist map.
@bluemoonpavilion (4658)
• Singapore
10 Aug 10
There are two sides to the coin actually. They might boost the economy and generate some interests in sports and games in the people, but maybe it could only last for a short period. They have to think of the long term effects. What are they going to do with the infrastructure after that and are they going to continue encouraging people to take part in the sports and games?
Singapore has been consistent in setting its goals and reaching it. Our sports scene was really pathetic many years ago. Even though we have some home grown sports star like Ang Peng Siong, Joscelin Yeo, Tan Howe Liang and Fandi Ahmad, sports was not really getting much attention from the mass. In recent years, we have been putting more focus on sports by bringing foreign sports talents, having a sports school and hosting the first Youth Olympics, we can see a clear direction where from now on, sports would play a more important role in our lives.
@carpediem17 (1315)
• Singapore
10 Aug 10
After the torch has been extinguished at these Games, it is time to count the cost-benefits of the Games. For Athens, the 2004 Olympics was touted as one of the most expensive Games and is it any wonder that the country's debt is outstripping its income and the state of its economy now. In fact, from my readings, it seems that quite a number of its Olympics stadiums are not in very good shape due to disrepair and costly maintenance. Cost is outweighing the economic benefit.
For the Beijing Olympics, the Olympics was a welcome breather as the capital wanted International Exposure for China - a sorta debutante's coming out party - to the World. And indeed so as China has become another economic powerhouse with its nouveau riche. Besides, it was also a political move for the Chinese government in establishing more International Relations in the balance of power. Nevertheless, I feel that China has benefitted more from the Games rather than Greece, in economic and political terms.
Thus in the final analysis, the government of the day must have a huge rein on the financial costs before any benefit (economic or otherwise) can be reaped.
