Employment is another great economic benefit that will come as a result of hosting the event. One cannot underestimate the level of job creation that an event of such magnitude can bring to the host country. An economic estimate in Atlanta found that about seventy-seven thousand new jobs were created. Forty-seven percent of this figure came from the direct spending made by visitors in the host nation. There are certain industries that will benefit more than others in this regard. The lodging and hotel industry will take up the largest portion of those new jobs.
The second most important industry is the food industry, it should also be noted that bars or other facilities offering drinks also fall in that category. The third category of industries that will also benefit from new jobs will be the retail sector and the business service sector. Additionally, there will also be jobs in the construction sector since there will be a need to make additional infrastructures like building. In relation to this industry, there will be a renovation of certain infrastructures like roads and bridges.
(Barney, 2003)The long term economic benefits that will come from hosting the Olympics can be considered as a legacy to the host nation. This is because they will be remembered for decades o come. The first legacy will be seen in terms of the facilities built specifically for the Olympics. These facilities will continue in operation years after the event is over. A host country will need top build a Stadium meeting international standards. In the year 1996, Georgia was hosting the Olympics. It was estimated that their stadium cost them about 189 million US dollars which is quite a good investment since the returns outweighed the investments by far.
There may also be other renovation, repairs, and improvements that can result in form holding the Olympics. First of all, some universities and higher education facilities may need to be improved. For example, their dormitories might be increased. A country may choose this because they feel the need to provide cheaper alternatives for certain guests’ accommodation.
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