Economics of Staging the Olympics

'This is probably the most ambitious effort, so far, to describe economic impacts of Summer Olympic Games. . . The major contribution of this book is that it gives a wealth of details and succeeds in making these comparable over 30 years and 7 countries. It is a unique source of information and a "must-have" in the reference library of any institution or researcher interested in mega-events.'- Tommy D. Andersson, Idrottsforum.org'The Olympic Games are the most prestigious sports event that a city can organise. They are the dream and fulfilment of young athletes. They also represent an extraordinary sporting, social, cultural and environmental legacy for the host city, the region and the country. The IOC is dedicated and committed to ensuring that its legacy is the best possible one. Professor Holger Preuss highlights the beneficial impact of the Olympic Games, financially and socially. Nowadays, hosting the Olympic Games can act as a catalyst for urban redevelopment, enabling changes, which might normally take several decades, to be completed over a seven-year cycle. This work, which highlights macroeconomic and business analysis related to over 30 years of Olympic Games's history, will certainly be useful to share the knowledge and the various experiences in this field and prove a valuable tool for students and researchers who are interested in the Olympic Movement. It is through similar publications that the complexity of the Olympic Games and their economic impact can be further understood by the generations to come. I trust that each of you will enjoy reading this book and appreciate the work of its author.'- From the preface by Jacques Rogge, President of the International Olympic CommitteeThe Olympic Games is a unique event centering global interest on its host city. The financing of the Games has changed dramatically since Munich (1972) and economic interests and effects are increasingly paramount. It is therefore an anomaly that accurate economic analysis and comparison is not readily available. This is the most detailed study on the economic implications of recent and future Olympic Games over four decades.Holger Preuss analyses the most important issues surrounding the hosting of the Olympics, and its wider economic effects, including:* financial gigantism of the Olympic Games* commercialisation and its control* problems associated with achieving the Olympic requirements and standards* the economic legacy of Olympic Games * the feasibility of developing countries staging future Olympic Games* detailed post Olympic analysis of financial figures* conclusions on the economic related achievements of respective Organising Committees.Academics and researchers of sports economics, international economics, international business and competition will all find this fascinating book of great value. The rigorous and authoritative analysis ensures valuable information will be available for future bid cities, and in a wider context, any city planning to bid for a major sporting event. It will also appeal to those interested in the broader context of the Olympic Games and concerned by their commercialisation and gigantism.