Economics
Economics Assignment
Effect of Commonwealth Games on Indian Economy
The Commonwealth Games (CWG) is an international multi-sport event which involves athletes from the Commonwealth of Nations. The Commonwealth of Nations which is referred to as Commonwealth was formerly known as the British Commonwealth which is an inter-governmental organization consisting of fifty-four independent member states out of which two -Mozambique and Rwanda were before a part of the British Empire.
The objective of CWG was being a sporting event which would bring together the members of the British Empire. The event was proposed by Reverend Astley Cooper in 1981, who also wrote an article in The Times suggesting a "Pan-Britannic-Pan-Anglican Contest and Festival every four years as a means of increasing the goodwill and good understanding of the British Empire". The event was first held in the year 1930 under the title of the British Empire Games in Hamilton, Ontario, Canada. The first Games included 400 athletes from 11 countries. To help cover the travelling costs for the visiting nations, the city of Hamilton provided $30,000. The success of the first Games at Hamilton in 1930 provided enough incentive to make them regular. Since 1930, they have taken place every four years except for 1942 and 1946, when they were disrupted due to World War II.
The event was renamed British Empire and Commonwealth Games in 1954, the British Commonwealth Games in 1970, and gained its current title in 1978.
IMPACT OF MAJOR SPORTING EVENTS ON A COUNTRY’S ECONOMY
It is quite complicated to assess the net economic cost and the impact of major sporting events on a country’s economy. The economic rationale of hosting events like Olympic Games and Football World Cup is often questionable. Financial costs are enormous which may be suggestive of the opinion that political vanity is generally the primary motivating factor for host countries. Even though it is a known fact that mega-events can nonetheless
Effect of Commonwealth Games on Indian Economy
The Commonwealth Games (CWG) is an international multi-sport event which involves athletes from the Commonwealth of Nations. The Commonwealth of Nations which is referred to as Commonwealth was formerly known as the British Commonwealth which is an inter-governmental organization consisting of fifty-four independent member states out of which two -Mozambique and Rwanda were before a part of the British Empire.
The objective of CWG was being a sporting event which would bring together the members of the British Empire. The event was proposed by Reverend Astley Cooper in 1981, who also wrote an article in The Times suggesting a "Pan-Britannic-Pan-Anglican Contest and Festival every four years as a means of increasing the goodwill and good understanding of the British Empire". The event was first held in the year 1930 under the title of the British Empire Games in Hamilton, Ontario, Canada. The first Games included 400 athletes from 11 countries. To help cover the travelling costs for the visiting nations, the city of Hamilton provided $30,000. The success of the first Games at Hamilton in 1930 provided enough incentive to make them regular. Since 1930, they have taken place every four years except for 1942 and 1946, when they were disrupted due to World War II.
The event was renamed British Empire and Commonwealth Games in 1954, the British Commonwealth Games in 1970, and gained its current title in 1978.
IMPACT OF MAJOR SPORTING EVENTS ON A COUNTRY’S ECONOMY
It is quite complicated to assess the net economic cost and the impact of major sporting events on a country’s economy. The economic rationale of hosting events like Olympic Games and Football World Cup is often questionable. Financial costs are enormous which may be suggestive of the opinion that political vanity is generally the primary motivating factor for host countries. Even though it is a known fact that mega-events can nonetheless