Sustainable Olympic Development: A Proposed Benchmark for Managing Economic Outcomes.
Sustainable Olympic Development: A Proposed Benchmark for Managing Economic Outcomes.
Date
2021-03
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Authors
Koba, Timothy
Gong, Hua
Ross, Walker J.
Grady, John
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Publisher
Taylor & Francis
Abstract
No other sporting event possesses the grandeur of the Olympics, and few other development projects demonstrate the lack of cost containment as the Olympics which leaves local residents paying the debt and maintenance of a venue they may never use. Legacy planning is an important consideration for the hosting of the Olympics, but one that does not always receive adequate consideration resulting in the "white elephant phenomenon." This study therefore looked to analyze the cost of hosting the Olympics compared to the economic activity in the host community in order to better inform public policy on the issues of sustainability and legacy, in particular. We are proposing a metric that helps to measure the costs that Olympic hosting has on the host community and provide a benchmark for containing those costs in terms of budgeting, construction and legacy planning for the Games. Consequently, the IOC can institute policy changes for project management that assist host cities in establishing a budget cap for venue development while simultaneously seeking to reduce the crippling debt that has accompanied them in the past. ABSTRACT FROM AUTHOR
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Article
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Keywords
Olympics , Sustainable development
Citation
Koba, T., Gong, H., Ross, W. J., & Grady, J. (2021). Sustainable Olympic Development: A Proposed Benchmark for Managing Economic Outcomes. Journal of Global Sport Management, 6(1), 49–69.