Critically assess the costs versus benefits of a staging a global Essay

Critically assess the costs versus benefits of a staging a global sporting event (London) - Essay Example loping countries have increased their budgetary allocation to cater for the construction of the facilities with an aim of staging the global sporting events in future. Apart from the benefits that are associated with the international sports, the events brought about high costs that the hosting countries must incur in order for the sports to be successful (Kamper and Mallon, 1992). Some of the major costs are incurred in the process of providing security, construction of stadiums and infrastructure, construction of hotels and restaurants as well as during advertising and promotion of the events. This paper aims at accessing the costs versus benefits of staging the 2012 London Olympic Games, one of the global sporting events that were held in the city of London. London is the largest city in United Kingdom. Being one of the most populous areas and the capital city of UK, London strength is based on expansive commercial activities, entertainment, health care, professional services, well developed tourism sector and developed infrastructure among other services. With a population of approximately 8.3 million people, London City has the largest airport system by considering passengers traffic. This is based on the large number of visitors who go the UK either for business activities, sporting or learning. Being one of the cities with the largest GDP, the city of London is a home to various ethnic groups (Coates, 1998). Some of the key ethnic groups that are found in the city include the White British, Irish, Asians, Indians, Chinese, Arabs and Pakistanis. Based on the peaceful coexistence of the various ethnic groups within the city, Ackroyd (2001) argues that the region has been one of the favourite places for holding an international sportin g event. Approximately 20% of the UK Gross Domestic Product (GDP) is generated by London. With more than $670Â  billion being generated by the London metropolitan area, the city has significantly contributed to the development