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III – The economic impact of the Olympic Games

IntroductionThe Olympic Games is an event of suchmagnitude that it can potentially have asignificant economic impact on the host cityand, for the smaller countries, on the hostnation as a whole. While the actual eventmay last for only a few weeks, preparationscommence up to a decade beforehand andmay entail considerable investmentexpenditures that can have longer termeconomic significance. With the Athens2004 Olympics only weeks away, this articleidentifies the economic effects of hosting theGames, reviews the experience of past hostcities, and reviews the outlook for the Greekeconomy in the light of the likely impact ofthe Athens Games . The discussion isstructured as Identifying the economic impacts of theOlympic Evidence from past The Athens 2004 Olympics and theoutlook for the Greek Summary and conclusionsIn Box , at the end of this article, we alsotake a look at how far economic and politicalfactors can contribute to explaining howmany medals countries win at the Identifying theeconomic impacts of theOlympic GamesIt is important to draw a distinction betweenthe financial impact of hosting the Olympicsand the wider economic impact of the financial impact of the Games relatesspecifically to the budgetary bala

economic impacts of the Olympic Games ... macroeconomic level. But for a smaller economy such as Greece, these effects are likely to be felt also at the national level. The full economic impact of the Olympic ... Table 3.1 – Key economic benefits and costs of the Games

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  Macroeconomics, Economic, Benefits, Impact, Economic impact, Economic benefits

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