how does it benefit host cities?
It increases the host country's exports, as the host or candidate country sends a signal about trade openness when bidding to host the Games. It has a strong positive effect on the philanthropic contributions of corporations headquartered in the host city, which seems to benefit the local nonprofit sector.
Olympic Games
Many economists are sceptical about the economic benefits of hosting the Olympic Games, emphasising that such "mega-events" often have large costs while yielding relatively few tangible benefits in the long run. Conversely hosting (or even bidding for) the Olympics appears to increase the host country's exports, as the host or candidate country sends a signal about trade openness when bidding to host the Games. Moreover, research suggests that hosting the Summer Olympics has a strong positive effect on the philanthropic contributions of corporations headquartered in the host city, which seems to benefit the local nonprofit sector. This positive effect begins in the years leading up to the Games and might persist for several years afterwards, although not permanently. This finding suggests that hosting the Olympics might create opportunities for cities to influence local corporations in ways that benefit the local nonprofit sector and civil society.
why olympic games are regarded as global events Thousands of athletes from around the world participate in the competitions from more than 200 nations. when did these games start? 1896
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Olympic Games [SEP] Economic and social impact on host cities and countries
Many economists are sceptical about the economic benefits of hosting the Olympic Games, emphasising that such "mega-events" often have large costs while yielding relatively few tangible benefits in the long run. Conversely hosting (or even bidding for) the Olympics appears to increase the host country's exports, as the host or candidate country sends a signal about trade openness when bidding to host the Games. Moreover, research suggests that hosting the Summer Olympics has a strong positive effect on the philanthropic contributions of corporations headquartered in the host city, which seems to benefit the local nonprofit sector. This positive effect begins in the years leading up to the Games and might persist for several years afterwards, although not permanently.