Reflecting on Olympic Facilities

After discussing the costs and outcomes of Olympic placement, the host city gains huge benefits, but at a very high cost.

I read an article regarding the 2012 Olympics, therefore I cannot yet determine if the city benefited from the Olympics being held.  However, I can project if I think that the city will benefit once the Olympics occur.

For starters, the cost to build a facility that is able to host the Olympics is far large.  People looking at the effects of hosting the Olympics must look at the overall economic situation.  The revenue may only be transitory, meaning the income is one time; the revenue will not continue after the Olympics are over.  Since the facilities are located in London, the awareness of the city is already well known.  London is already considered a World City, therefore, the marketing of the event does not have to be as extreme since people all over the world are already informed of London.

There are 32 venues that are being used for the 2012 Olympic games (Venues).  The most eye appealing to me is the aquatics centre.

http://www.london2012.com/games/venues/aquatics-centre.php 

The Aquatics Centre will hold 17,500 people (Aquatics Centre). This facility is located at the front of the Olympic Center (Aquatics Centre). It is projected that at least two thirds of the spectators will walk passed this facility at some point in their experience (Aquatics Centre).

The Olympic Stadium, home to the opening and closing ceremonies is a new facility that holds 80,000 people (Olympic Statdium).  Of this 80,000 seats, 55,000 can be removed (Olympic Stadium).

In regards to whether or not I think London will be successful after the Olympic games, yes! As I said before, London is already a World City and is well known. Their economy will boost as a result from these games, but I also like to think that it will not a be a one time boost. A theory that we discussed in class, Back to Normal Scenario, states that the economic situation boosts for some reason (for example: an event) and then goes back to how it was before the specific event.  I would like to think that London’s economy will boost and stay at that high level, which as we learned in class is known as a the Plateau Theory.

Resources:

“Aquatics Center.” London 2012. N.p., n.d. Web. 15 Nov. 2010. http://www.london2012.com/games/venues/aquatics-centre.php

“Olympic Stadium.” London 2012. N.p., n.d. Web. 16 Nov. 2010. http://www.london2012.com/games/venues/olympic-stadium.php

“Venues.” London 2012. N.p., n.d. Web. 14 Nov. 2010. http://www.london2012.com/games/venues/index.php

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