Olympics and their economic impact: Updated research roundup By John Wihbey The Olympics are about competition and heroics and national pride. But they are also about big business. Long after the crowds vanish, it turns out that some host cities and countries ended up taking large net losses on their investments.
The Olympic Games will take place entirely in London, but the bid team had stressed throughout their campaign that the games would benefit the whole of Britain. The proposed research is on the impact of the hosting of the Olympics in London and its impact specifically on the hospitality industry.
Other studies have been done on the impact of the Olympics viz. It was commissioned by DCMS and the London Development Agency to assess the likely benefits of hosting the Olympics and Paralympics in in social and economic terms. It had also given a significant boost in construction activity.
With hosting of the Olympic Games in Beijing it is foreseen that the tourist arrivals in China will increase considerably well beyond Athens would have benefited from its investment in urban regeneration and transport infrastructure.
Before the Games Sydney was a great city to visit and now is better again after its Olympic experience. Atlanta was located within 2 hours flying time from major US cities. It was a major domestic convention hub before the Games with comparatively few international visitors. But as inbound statistics reflect, Atlanta is still a major domestic convention hub with no hard evidence of an Olympics afterglow in the inbound market.
Barcelona achieved Post olympic effects on hospitality industry tourism-image transformation but the hotel market in the post-Olympic era was badly over-supplied for several years. Whereas Seoul opened its inbound tourism industry. The city added several hotels and infrastructure investment which dramatically improved the tourism appeal and till now Seoul remains a strong hotel market.
As seen here Barcelona and Seoul were the two most successful cities in creating additional inbound traffic.
And this too could be good news for those looking for restaurant, bar and hotel jobs or other types of hospitality employment. Indeed, figures released by the Office for National Statistics this week suggest that the Olympics have already had a measurable impact on employment levels. Post Olympic Effects on Hospitality Industry. Aim: To identify the issues that the hospitality industry may be faced with post Olympics and to recommend strategies to overcome the reduction in the business to hospitality organisations. Effects of London Olympic games upon the Tourism, Hospitality and Events industries in the UK 1. Effects of London Olympic games upon the Tourism, Hospitality and Events industries in the UK 2. Abstract On 6th July, , the UK won the bid for becoming the host country to stage Olympics Games in London for the year
But the point to note was that both these cities had low-profile tourism at the time of hosting the games and so they had much to gain from the hosting of the games. When we refer to the term Hospitality we normally refer to the relationship between a guest and a host.
Hospitality in industry parlance would mainly refer to jobs for hotels, restaurants, casinos, catering, resorts, clubs and any other service position which deals with tourists.
Hospitality can also be the act of generously providing care and kindness to anyone in need. The hospitality and tourism industry is the largest and fastest growing industry in the world.
Walker The main characteristics of hospitality business being that it is open days a year and 24hours a day. Walker also talks about the Multiplier effect in the economy due to tourists. He says that tourists produce secondary impacts beyond their original expenditure. When a tourist spends money to travel to stay in a hotel or to eat in a restaurant that money is recycled by those business to purchase more goods thereby generating further use of the money.
According to Manson, Hospitality industry is diverse and falls in to two sectors viz.
Commercial and Welfare, the distinguishing factor being the relationship with the customer. In the Welfare sector customer is usually part of a captive audience and element of choice is removed in case of NHS Trust Hospital, prison, nursing home, school or the armed forces.
The Commercial sector is profit driven, Welfare sector is characterised by cost recovery principles. According to Mason, The UK hospitality industry is a diverse mix of large medium, small and micro sized enterprise scattered across the country.
The UK hospitality industry has experienced continued annual growth in employment opportunities and the billions of pounds spent on tourism takes no account of supporting industries who benefit e. Kitchen equipment manufacturers, suppliers of furniture, food, drink, crockery etc.
Mason Rationale for the Chosen Topic The reason for choosing the proposed topic was due to fact that the hospitality industry being in the service sector is of interest to me.The Olympic Games will take place entirely in London, but the bid team had stressed throughout their campaign that the games would benefit the whole of Britain.
The proposed research is on the impact of the hosting of the Olympics in London and its impact specifically on the hospitality industry.
The Winter Olympics and the Olympic Games are two of the world's biggest sporting events and consequently attract large spectator and huge audience numbers from all over the globe. Airlines and.
The major impact of Olympic Games on economy as a whole will be observed when the hospitality industry will be able to derive long running benefit from and after Olympics , in proportion to the spending made for infrastructural development with respect to Olympics This benefit should be widespread not only during the games also in the post game period.
The positive and negative economic contributions of mega-sporting events to local communities PART ONE economic impact of the Super Bowl or the Olympic Games. Because the focus of this paper construction or refurbishment and to the post-event effects. Both academic and industry.
The Olympics are analysed from an urban perspective as an event that has an impact on cities beyond sport. The focus of the paper is on post-event outcomes and particularly on Olympic-related facilities and how they are used once the Olympics are over.
Post Olympic Effects on Hospitality Industry Essay To recommend the strategies to the hospitality industry to survive post Olympic downfall in business The London Olympics is spending a huge amount of money for the Olympic Games and for their facilities.
Preparing for the Olympics.