In today’s era, many individuals posit that spending funds to the sport events such as Olympic games is overrated activity and waste of budget, whereas others believe that they are crucial as they may benefit to local economies and serve as a major source of entertainment.
First and foremost, hosting such events as Formula 1 might be too costly. In given tournament home country should prepare all needed facilities, ranging from constructing racing zone to the employing overwhelming majority of people for serving visitors and keeping every thing on the eye. For example, Malaysia, officially retired from Formula 1 as a hosting country, because expenditure did not cover the income. Additionally, organizing alike Soccer World Cups may left destructions after them. Consequently, to conducting World Cup, especially in small countries may lead to the abandoning of the stadiums seldom to the finish of the tournament. As a perfect scenario might be Qatar, it is small country so after the end of the Cup most of the stadiums were destructed or abandoned mainly because there was no need for them.
Nevertheless, both attending and hosting might be beneficial in the terms of profit gatherings. One of the primary reasons is money obtained by prizes for tickets, transportation, food and accommodation services. Great majority of fans and visitors are tourists that need somewhere to live, something to eat and for sure, tickets to attend the tournament this may bring sufficient funds to cover entire outlay, as well as to stay in the black. For instance: 2010 Soccer World Cup held in South Africa resulted in tourist flood and help enormously to boost local economy. Moreover, organizing sports event will affect to its citizens. Local citizens may get a huge discount for entering to the competitions and offer a chance to be in a contact with other cultures and traditions for free. In the ancient Rome held Olympic Games and Gladiator rivalries temporarily to entertain their flock and thus gaining reputation that was critical for governing.
In conclusion, while a significant number of people contend that organizing sport events is the waste of money, I completely disagree with this viewpoint as they may boost economies and provide people with entertainment. Hence, collaborative approach may lead to the overall better performance by controlling the spending and income.