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Positive Effects of the Beijing Olympics to the Economy

The Beijing Olympics was just recently concluded last August. Apart from the usual coming together of athletes playing in good will for their respective countries as the spirit of the games, the Beijing Olympics cemented China’s place in the world. The games not only announced China’s place in the world, it also gave the message that China has the potential to be an economic super power (if it’s not already). One of the obvious positive effects of the Olympic Games in China is of course, Tourism. Thousands upon thousands, if not millions of visitors went to China even before the first firework exploded on the Chinese sky.

Hordes of people from all the corners of the Earth, well, at least those who can afford to, went to China to witness the games and to support their countrymen. This of course would mean revenue for China, people have to stay in hotels, eat in restaurants and visit tourist spots, and sell merchandise, much to the Chinese people’s delight. The Olympic Games generated jobs for the Chinese people. Establishments had to hire more people to accommodate the flocks of tourists flooding the country. Aside from tourism, the Olympic Games being held in China strengthen its relationships with its trading partners.

Multi-national corporations invested on the country, in anticipation for the Olympic Games. The Chinese economy was already rising faster than any other economy in the world before the games. The Olympics only boosted the economy even more. American corporations should help America to win the bid for the next Olympic Games. They lost to London already so they better strengthen their appeal. An economic boost could not come at a better time than now for the US, its economy is dwindling fast. If not for the government’s intervention, a lot of banks would already be closed by now.

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