The costs of the Olympics were really high.it was estimate of £2.4 million in 2005 to£9.3 billion now. The average overspend is 179%. The games will inspire people to exercise more. The London 2012 had more disadvantages. Some people might disagree to this statement as they might think they had more benefits than disadvantage. The Olympic Games have some benefits like the stadium we can use the stadium for other sports and will have a track or we could sell the stadium for example football group. The stakeholder had lot of benefits like McDonalds as they were selling there foods which will make a profit and they had them advertising in the Olympics as there other stakeholder did. The 2012 games were a real inspiration to other as they work so hard to achieve their goals. Other people will look up to them as how much they worked to achieve that goal. Because of the Olympics London got a better travel system in London which is more efficient. Another long term benefit is the 5,000 homes which they used as the Olympic village. The whole of UK had an increase of tourism through the season of Olympics. This is a benefit as the country would have made money e.g. selling goods, cost of hotel etc. The Olympic gave lot short term jobs of people who were unemployed. Stanford had high unemployment level; this should have given jobs to people who were unemployed. It will also encourage sport in the world; this will make people fitter and healthier. The main thing is we made history.
They will never forget the moment when Great Britain was on spot light for the month. That would have made the world talk about Britain and how capable they are for such an event as the Olympics. On the other hand there are problems associated with the Olympics. The main drawback of hosting the games is the cost. It is predicted that the total cost of staging the Games will be £2.375bn. Currently with the funding sources of Council Tax, the National Lottery, and the London Development Agency, there could be nearly £500million operating loss. The opportunity cost could have been to build hospital or school. This would have helped lots of people who really needed this as the don’t have these facilities or the hospitals or schools could be updated where it is damaged or getting old. But the games have left now and the short term jobs have finished now. But if we have chosen the opportunity cost we would have had long term jobs like teachers, doctors, nurses etc. We wasted a lot of money of the security (G5S) they didn’t train enough security for the games. The army covered
around 3,500 to cover the shortfall on a £284m contract G5S were meant to provide 10,400 security guards. We won’t be making a loss of money as we didn’t sell all the tickets which were planning to sell. Another cost is that we are selling our Olympic stadium to Tottenham Hotspur FC. They will so demolish most of the stadium this could mean that we are demolishing our memory’s about London 2012 Olympics. Now the Olympic is over, some of the stadiums will be demolished completely which is a waste of money that spend. In conclusion I think the London 2012 Olympics is a disadvantages because we just wasted our money to build stadiums but now they are just going to demolish them is just a waste of money as they are not keeping them. They also didn’t sell all the tickets because they were scared of terrorist attacks. But it is too early to say if the Olympic games were a benefit