An Olympic game brings together people from different parts of the wolrd. It brings together the world leading athletes and millions of fans who visit the country for the event (Wicker et al.,2016). The competitions in an Olympic games involves a variety of events where athletes compete to win medals. The host country enjoys many benefits during and after hosting and Olimpic event. The purpose of this essay to explain the social and economic impact of hosting the Olympic games in Pyeongchang in South Korea 2018.
Over the decades, Olympic games promote unity, the spirit of athleticism and peace around the world. The spectators and the athletes who visit the country for an Olympic games come from diverse cultures. The result of their interactions is the appreciation of cultural diversity and social intergration. South Korea is yet to benefit socially and economically if it hosts an Olympic games in 2018. Sociologically, South Korea will benefit from the publicity. Journalists and great Olympic games analysts will expose the various economic activities, the security, and infrastructure developments during and Olimpic games event (Streicher et al.,2017).
In preparation for hosting an Olympic games, South Korea will benefit from the international support to improve the infrastructure to suit the event. In an Olympic games, good transport networks, security, and good restaurants are essential. The nations that hosted the Olympic games before benefited greatly from the revenue collection and marketing of scenic features in the country. South Korea will benefit from the revenue collection from the economic activities such as TV broadcasting, sponsorship, and the hospitality.
Olympic games is an Avenue for marketing the available tourism attraction sites and exposing opportunities for investment in the country. South Korea is tourism destination and thus during the Olympic games, the country will publicise the tourism attractions sites which may improve the number of tourists vising the country after the Olimpic game. The Citizens of South Korean Citizens will get an Opportunity to show the world their cultures during the Opening ceremony of the event.
Often, the Opening ceremony of an Olympic games attracts many viewers and dignitaries from different parts of the globe. As a result, South Korea will be lucky to host the great leaders of the world and thus the country will become famous (Scott, 2015).
Olympic games will trigger economic development beyond the two weeks of the event. For example, during the preparation for the event, the country will renovate the communication networks, security and restaurants to host the event (Chen et al.,2017). The event provides South Korea with an Opportunity to make a name, catch the attention of the world and to attract major business investors to the country.
During the Olimpic games period, the citizens benefit from the job creations (Clark et al.2017). The constructing companies will benefit from tenders to renovate restaurants, sporting venues, and rooms for accommodating the participants. After the Olympic games, the country will experience technological progress after the many infrastructural renovations. South Korea is likely to expose the many tourist attractions site through to the spectator and Olympic games officials. As a result, there are high chances of receiving many tourists after the Olympic game. The country will generate millions of cash from the participants of the event after selling goods and services during the two weeks event (Kim et al.,2015).
Chen, S., Preuss, H., Hu, X. R., Kenyon, J. A., & Yuan, C. (2017). Domestic sport policy development [in China]: Legacies of Beijings 2008 Summer Olympic Games and 2022 Winter Olympic Games.
Clark, C., Smuk, M., Cummins, S., Eldridge, S., Fahy, A., Lewis, D., ... & Stansfeld, S. A. (2017). An Olympic Legacy? Does the urban regeneration associated with the London 2012 Olympic Games impact on adolescent mental health?. American Journal of Epidemiology.
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Kim, W., Jun, H. M., Walker, M., & Drane, D. (2015). Evaluating the perceived social impacts of hosting large-scale sport tourism events: Scale development and validation. Tourism Management, 48, 21-32.
Scott, K. G. (2015). The Impact of Hosting the Summer Olympic Games on Economic Growth in Developing Countries: A Case Study of the 2008 Beijing Games (Doctoral dissertation, The University of Mississippi).
Streicher, T., Schmidt, S. L., Schreyer, D., & Torgler, B. (2017). Is it the economy, stupid? The role of social versus economic factors in peoples support for hosting the Olympic Games: evidence from 12 democratic countries. Applied Economics Letters, 24(3), 170-174.
Wicker, P., Whitehead, J. C., Mason, D. S., & Johnson, B. K. (2016). Public support for hosting the Olympic Summer Games in Germany: The CVM approach. Urban Studies, 0042098016675085.
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