The Economic Impact of Large-scale Sports Events on Developing Countries

Abstract

Nowadays, more and more large-scale sports events are chosen to hold in developing countries. For example, the 2016 Summer Olympics was held in Rio de Janeiro, Brazil, a South American country, the 2022 Winter Olympics and the 2023 Asian Games be held in China. This paper analyses how big sporting events will bring economic benefits to developing countries. Through the case, the research focuses on the analysis of economic development at and after the competition of the 2022 Beijing Winter Olympics and the 2016 Rio Olympics. It is found that large-scale sports events will certainly bring economic development and tourism development during the holding period, and help the country improve its international status, but this is also closely related to the country's own economic strength. If there is not enough economic strength to improve the infrastructure, it will lead to a series of negative events after the game. Therefore, before deciding whether to apply for sports events, developing countries should first evaluate the overall situation of their countries, including economic development and social stability, to help make better judgments. After the game, host countries need to continue to use the competition venue, continue to develop tourism, ensure economic development, and apply for win-win cooperation with developed countries.