Impact Of Sporting Activities On Sporting Events - 1492 Words

Sporting events have become a major source of economic, infrastructural and social development in numerous countries around the world. This is because of the economic benefits associated with hosting a sporting event. Economic impact in sporting events can be defined as the net change in an economy resulting from a sport event. The change is caused by activity involving the acquisition, operation, development, and use of sport facilities and services (Lieber Alton, 1983). The net change here refers to the difference between the income entering the economy as a result of the sporting event and the income that would have entered despite the event. The economic impacts are composed of direct, indirect and induced effects. The direct effects are the purchases needed to meet the increased demand of visitors for goods and services. Indirect effects are the ripple effect caused by the additional rounds of recirculating the initial visitor’s money. Induced effects are the increase in employment and household income that result from the economic activity resulting from the direct and indirect effects (Lee, 2008). Countries in anticipation of these benefits host sport event. It is as a result of this that countries bid to host global sporting events such as the Olympics. While the point of any country hosting a sport event is to attract economic benefits, the strategy used in attracting these benefits vary from country to country (Matheson and Baade, 2011). For the sake of thisShow MoreRelatedThe Impact Of Sporting Activities On Sporting Events1394 Words   |  6 PagesSporting activities have had major impacts worldwide for quite some time. Within that period of time, various issues have emanated from such activities and had various influences. According to the article written and published by Jamal L. 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