I need questions 1-6 completed in full sentences ASAP. 1. How can projects such
ID: 1147564 • Letter: I
Question
I need questions 1-6 completed in full sentences ASAP.
1. How can projects such as hosting the Olympic Games help in regeneration? What examples are there of this?
2. What negative economic impacts might there be from the hosting of the Olympic Games?
3. What is the opportunity cost of hosting of the Olympic Games?
4. Which industries are most likely to benefit from hosting the Olympic Games?
5. Distinguish between micro- and macroeconomic impacts of hosting the Olympic Games.
6. What are the major non-economic impacts of hosting the Olympic Games and are they quantifiable?
Source is Economics of Recreation, Leisure and Tourism by John Tribe 4th Edition. Thanks in advance.
2012 In his report on the economie impact of the Olymples Adam Blake notes that hosting the Olymples has brought mixed rewards in the past. Data cited for previous Olympics includes Los Angeles 1984: The economic impact of the games on Southern California was estimated to be US$2.3 billion with 73375 jobs spported Seoul 1988: An economie impact of some $1.6 billion with an increase in employment of 336.000 jobs. Barcelona 1992 A direct economic impact of $30 million with 296,640 new jobs created Atlanta 1996 The economle impact of the Olympies on Georgia was estimated to be $53.1 billion and with an additional 77,026 jobs generated Sydney 2000 One key study estimated that the economie impact of the Games on Australia was estimated to be $4.5 billion with employment gains of 98,700 jobs. · Athens 2004 A study showed the economic impact of the Games to be US$15.9 million with an employment impact of 445,000 jobs, respectively Blake continues his analysis by outlining the stages that must be undertaken in order to conduct an economie impact assessment (ELA) of the Olympies First, It is necessary to calculate spending, by organizations such as the organizing committee as well as by Individuals Next, this expenditure must be aggregated and third, a model must be constructed and applied to the data to calculate how this spending translates into income and employment. The two main techniques are input-output (1-0) analysis and computable general equilibrium (Cot) modelling He also notes the different time scales in which impacts occur. These are first the pre-Games impacts the construction phase · other pre-Games costs visitor impacts in the run-up to the Games Next the during-Games impacts include revenues from staging the Games during-Games visitor impacts : costs of staging the Games Fnally post-Games impacts include legacy visitor impacts . legacy infrExplanation / Answer
As per Chegg guidelines, first question is answered below.
1.
Hosting olympic games acts like a regeneration process for an economy as it brings with itself quite many benefits. It increases investment in the economy, along with tourism and marketing which helps the economy portray itself on the big screen in front of rest of the world. This is why countries like to host such international games so as to put themselves on the world map influentially.