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Olympics to Boost London’s Economy

Olympics to Boost London’s Economy

For hosting an event like Olympics costs millions of dollars to a country, where the country’s economic condition also has to be considered. This is the current situation in this summer’s London Olympics, where it had cost around $9 to $24 billion to host the event. Out of which, $9.3 billion has been covered by the Olympic’s public sector funding like building venues, security and policing.

From another point of view, the games might prove beneficial for the country. An investment of $24 billion is also a huge amount for bigger return. People are visiting that city from all the world, which includes spectators, athletes, coaches, family members, world dignitaries. And facilities like hotels, restaurants, malls etc, which will account to local business and hence, it will help in the economy.

Although, $24 billion is considered as a huge amount of investment, but all of it will not be absorbed by the tax payers. It will be returned to the economy in a way through people visiting the country for games. It should be considered like a business for the economy of that country.