Essay on Olympic Games

What are the economic advantages and disadvantages for both London and Great Britain of the Olympic Games being scheduled in the country in 2012? Set these in the context of the current economic downturn.
Essay plan
On 6th July 2005 The International Olympic Committee (IOC) awarded the 2012 Olympic Games to London. In the essay I am going to discuss the economic advantages and disadvantages associated with hosting the Games for both London and Great Britain. I will also be considering the implications that have arisen following the global economic downturn. I propose to answer the question in four sections. These will be the economic advantages, economic disadvantages, implications of the global economic downturn on the 2012 Games and a conclusion.
Firstly I will consider the Economic advantages on both London and Great Britain. I will explore the numerous benefits and long lasting legacies which will include: urban regeneration, transport improvements, increased tourism and the creation of thousands of jobs both before and during the 2012 Games. Also I will discuss the intangible benefits that are available to the hosting nation.
Secondly I will explore the economic disadvantages for London and Great Britain. The main argument will be the cost. Amongst other resources I will use quotations, for example Hamilton, The Times (10/02/10) claims “The Government faces the prospect of having to raid its dwindling Olympic contingency fund yet again, with officials announcing further cost increases yesterday in the delivery of the 2012 Games.”. This highlights the growing financial cost of hosting the Games. In this section I will also explore how the funding for the games is being raised and the cost to the tax payer.
The implications of the global economic downturn will be the next discussion point. In this section amongst other things I will be considering the possible reduction in tourism and the reduction of private sector investment. Finally I...