Cost and benefit of the London Olympic 2012

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Additionally, even the Russian government encountered deficits of approximately 9 billion US dollars after organizing the 1980 Olympic Games. Nevertheless from the subsequent Olympic Games that were hosted by Los Angeles in the year 1984, the Olympic Games were commercialised as an event. As a result, Los Angeles earned direct revenues worth 200 million US dollars and indirect revenue of 3 billion US dollars from the 1984 Olympics. With the passage of time and the rapid commercialisation of the Olympic Games, more and more cities have become interested in hosting the event as it produces big fortune for the city and impel the economic growth of the country. In the year 1992, Barcelona hosted the Olympic Games, and earned direct revenues greater than 9.5 billion US dollars in addition to indirect revenues worth 16.4 billion US dollars (Brunet, 1995). This magnitude of profitability and the enduring legacy economic affect on the city owing to the organization Olympic Games, catch the fancy of a number of big corporate houses who endeavour for the sponsorships. It is evident the financial as well as economic impact of hosting the Olympic Games is anticipated to be extensive, predominantly at the local level and to a smaller degree at the country level. The total financial consequence of the Olympic Games on the city or the nation hosting the Game is generally spread over the years. Hence, the study of economic impacts of the Olympic Games on the host city has been a popular topic of investigation for researchers. The 2012 Olympics is being held in London. It has the potential of generating huge amount of revenues as well as exhibit London on the global platform this year. The Olympic Games is expected to motivate a… The second chapter, that is, Literature Review, would focus on the review and discussion of the findings of prior studies on the benefits, particularly financial and economic, of Olympic Games. This chapter would hence discuss the researches that have been carried out by other researchers in the topic under discussion. For the better understanding of the expected financial benefits of 2012 Olympic Games on the United Kingdom, this segment of the research study would focus on the preceding Olympic Games that were held in Being, Sydney, Atlanta, Barcelona and Athens among others. In this context, the financial and economic benefits that these host nations had enjoyed would be conferred with the help of cost benefit analysis. The thorough study of the impacts of the past Olympic Games on the host nations would endow us with an apparent outlook of the expected financial benefit that the United Kingdom could potentially gain this time. The Literature Review would also accentuate on the anticipated financial scenario in the UK, subsequent to the 2012 Olympic Games in London.Chapter Three: Research MethodologyThis chapter would consist of a discussion on the selection of the appropriate methods and approaches for the execution of the research study. For a better identification of the appropriate research method for this study, this chapter would initially present a comprehensive discussion of all the research methods along with their advantages and suitability. The chapter would also discuss the strategy.