Monday, August 8, 2022

title pic The Olympics.. Big Business or just another Sporting Event?

Posted by heather on July 26, 2012

The Olympics has been nothing short of controversial whichever way you look at it for the past seven years and despite all the issues highlighted in the media recently, with only one day to go until the opening ceremony I am bursting with excitement by it.

I remember 7 years ago when ‘London’ was announced as the winning host city that I thought what a tremendous accolade GB had achieved.  The immediate reaction of a friend I was with at the time was one of “oh that’s all we need, we’ll just be left with loads of debt”…  I looked at her and decided to challenge her thinking.  So I asked her why she thought that?  “Oh well you only have to look at Greece and the problems left behind there.”

Bearing in mind, that seven years ago was before any recession/bank bail out problems had even happened. We were also, none the wiser at that time as to only three years later, what would be the worst recession the world had ever known , so I was surprised over the negativity that had spouted forth.  Coming from a family that had always enjoyed sport and in fact any major sporting event I had never given any thought to the impact to the country involved.  In my mind, surely it always had to be a good thing because all eyes were on the sports men and women achieving or not, who had won and which world record had been broken.  I also enjoyed an insight to the country or city that was hosting and great discussions always ensued around the dinner table.

Once my friend had finished her barrage of negativity and ill feeling towards the Olympics coming to London, I thought to myself I really have to give her the flip side to the argument here as whilst the pros and cons always have to be weighed up..  by changing the way you look at a problem, it can suddenly be less onerous or more importantly a situation that still requires a solution.

So I explained that even taking into account costs etc, that the feel good factor for the nation, the fact we could celebrate achievement, that our kids would get the benefit of Olympic fever and so much more and that the eyes of the world would be on GB for those two weeks would generate so much more than the cost of hosting the games.  It is an invisible export like the Monarchy, its impossible to calculate just how much revenue the games will bring in, but the feel good factor and excitement in my household alone is sky high, replicate that throughout the country and for our nation that is priceless.

So there is no doubt the Olympics is big Business but it is also the greatest show on earth.  It is worth noting that all good businesses speculate to accumulate surely this is just that, only this is on a monumental scale and if you try and look at the overall picture it is scary.  However, enjoy the Games for what it is, celebrate with those who achieve their life’s long work and commiserate with those who don’t .    Let the Games commence!!

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