Some people argue that organizing international sports events requires a considerable financial investment, whereas others think these event generate substantial benefits for the host nation. This essay will thoroughly clarify these two viewpoints before explaining why I propose the latter view.
On the one hand, upgrading infrastructure and investing in media coverage are two substantial costs. Once an international sports event takes place, the host country is responsible for welcoming thousands of athletes across the globe, so they have to guarantee their competition’s infrastructure in the best condition, such as sporting arenas and accommodation. Therefore, the host nation has to examine the qualities of these infrastructure and repair, upgrade, or even construct a new one if necessary, resulting in a huge amount of money required to spend on. Greece, the host country of 2004 Athens Olympic, for example, whose hosting costs exceed the original budget, resulting in debt crisis thereafter./ For example, Greece, the host of the 2004 Athens Olympics, saw its costs exceed the original budget, resulting in a debt crisis thereafter. Moreover, financial problems also stemming from utilizing media coverage to make the event become widespread worldwide. In this case, the expenses of broadcasting on national channels, printing newspaper, launching global marketing campaigns about the sports events can yield excessively. Such a financial resource may be more effective in case of redirecting the budget to other chronic societal issues like healthcare or education.
On the other hand, I side with those tho believe that hosting an international sports event can act as a catalyst for the host country’s economic growth. First and foremost, tourism industries can benefit from these highly influential events because they usually attract a huge number of spectators to pay visits. In the long-term vision, this will be beneficial for the host nation to gain global acknowledgement, encouraging international visitors to return in the future. As a result, the local and national economy can be boosted afterwards. Additionally, successfully hosting a mega-event clearly proves the organizational capacity and infrastructural readiness, signaling to multinational corporation that the country is a stable destination for permanent capital commitment. Meanwhile, the host country can showcase their national strengths and industrial potential, thereby increasing the rate of Foreign Direct Investment to invest in local economy.
In conclusion, although organizing a global sports event may seem costly for some people due to its excessive spending on infrastructure or marketing, I definitely oppose it. From my perspective, I am convinced that the host country absolutely gain more economic advantages, namely tourism and Foreign Direct Investment, outweigh the initial costs.