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This report will analyse the effects that staging a major sporting event can have on an area. It will examine whether events of this size generate inward investment, what different types of investment that occur and evaluate their lasting value.

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Introduction

Abstract This report will analyse the effects that staging a major sporting event can have on an area. It will examine whether events of this size generate inward investment, what different types of investment that occur and evaluate their lasting value. The reasons for the growth of sport as a global industry will also be discussed in terms of their effect on investment levels. After studying a number of major sporting events, both within the UK and from other parts of the world this report concludes that the extent to which events act as a focus for inward investment depends on the nature of the competition and the size of its audience. Introduction The title of this report is: "To what extent do major sporting events act as a focus for inward investment?" Before I can begin to explore this question there are several terms to define: What constitutes a major sporting event? A major sporting event is a competition involving a large number of competitors from a range of countries, gaining widespread media coverage. What is inward investment? Inward investment implies that, "Goods have been brought into existence which will allow a stream of other goods and services to be produced in the future". - (Economics, A New Approach by A.G. Anderton) Key Questions/Issues My report will be structured around the key questions shown in the table below. I will make ongoing conclusions as I explore each question in turn, using case studies covering a range of scales and locations, and draw them together when making my final conclusion. Key Question Case Studies used 1) Where does inward investment come from and is it sustainable? Athens 2004, Sport England, Silverstone, previous Olympic games, World Cup 2002 (Yokohama), World Student Games 1991 (Sheffield) 2) Increased investment in sporting events has come about due to the growth in the importance of sport which has become a global industry. ...read more.

Middle

Amateur sport is important to improving quality of life. Sport provides role models for the pursuit of personal excellence. Competitive amateur sport also stimulates broadly based participation in physical activity, leading to better health, higher productivity and a stronger social fabric. This has led to increased interest in professional sport, resulting in higher attendance and increased revenue. * "Increasing government intervention in sport at a professional level has also increased its importance. Our elite athletes are supported using lottery funding under the World Class Performance Programme by UK Sport and Sport England. Awards have been made to the governing bodies of over 37 sports, ranging from wheelchair basketball to athletics. This enables our top athletes to improve their performance and win medals in the Olympics and major international competitions. Those athletes at the elite level are also starting to feel the benefits of the United Kingdom Sports Institute. Funded by the lottery, these are centres of excellence where first class facilities and services are available to athletes. This includes sports science, medicine, nutrition and coaching expertise. There are ten centres of excellence in England. Many of the centres have sports-specific roles, for instance most of the elite swimmers use the new facilities at Bath University. Money raised by the National Lottery is also being directed at bringing top events to the UK, such as the World Athletics Championship in 2005. Not only does this give us all the opportunity to watch the best competitors in the world, it is a boost for the country and sports as a whole." - (www.culture.gov.uk/sport) Having investigated the reasons for increased inward investment we must now examine how this investment is being used. 3) What different types of inward investment take place? Do they vary from one sporting event to another? To answer this key question I will be using the following case studies: World Student Games 1991 (Sheffield), Silverstone, Athens 2004, World Cup 2002 (Yokohama). ...read more.

Conclusion

Final Conclusion The initial question that was asked at the beginning of this report was: 'To what extent do major sporting events act as a focus for inward investment?' I examined this issue using four key questions, making ongoing conclusions as I went along. The following conclusion is an accumulation of my findings throughout the report: * I have reached the conclusion that the majority of sporting events do act as a focus for inward investment. Through my research and analysis of a range of different types and scales of sporting events I believe that the extent to which this is true depends on the nature of the event. Large scale events such as an Olympic games will require a much larger investment than a world championship in a specific sport. They will require a wider range of sporting facilities and are likely to attract a broader range of spectators, requiring greater provision of spectator facilities. * I have also concluded that many of these events have lasting benefits not just for the people who benefit directly from the facilities but the general population of the area who receive the financial and social benefits. * Events which do not act as a focus for inward investment are those which do not require permanent facilities, or in the case of the BUPA Great North Run any facilities. The potential audience size can also be a limiting factor as shown by the example of the Embassy World Snooker Championship. As you can see from my conclusion, the question asked in this report is of a complex nature and has no simple answer. I used case studies covering a range of scales and locations in order to make as accurate a judgement as possible. However I could only use a limited number due to the length of time I had to carry out my research and compile this report. To fully investigate the issue I would need to carry out my research on a much larger scale, covering a greater time period and range of events. ...read more.

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