Olympics a Waste of Money?

Over the years, the Olympic Games have withered many trials including but not limited to boycotts, wars and poor organization. Further, there have been claims that the benefits derived from the Games do not justify the costs. In that regard, some continue to view the Olympic Games as a waste of money. Those of a similar opinion are convinced that the money 'wasted' in seeing the Olympics through would rather be used to help the poor. Despite the challenges as well as criticism that has been leveled against the Olympic Games over time, the relevance of the Games from both an economic and social perspective cannot be overstated.

Are the Olympics a Waste of Money?

In the words of Humphreys and Howard (2008), "sporting events produce two types of economic benefits: direct and indirect." In the opinion of the authors, direct economic benefits in this...
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