Economic Effect of Brazilian Olympics
The Olympic Games have no predetermined influence on any nation’s economy. Throughout history there have been several examples of both prosperity and damage to a country’s economic system due to hosting the games. While damage to an economy is rare, cases such as Munich in 1972 and Montreal in 1976 demonstrate the negative impact that hosting the Olympics can bring. Though there are no directly quantifiable effects, studies by economist Jose Usera from Goldman Sachs (cite source) explain the historical factors of a nation that are typically followed by a successful economic impact. Tangible elements of the Olympics that can influence an economy are aspects regarding tourism, ticket sales, and commercial activity. However the unquantifiable factors hold greater value- the social behaviors of a host country’s citizens, business environments, and even the general expectation for the games themselves. Several historical factors that have shown Olympic economic success are currently shown by Brazil. In an interview with CNN News, Brazil’s wealthiest man, Eike Batista, discussed Brazil’s economic status (Darlington 2010.) Ranked 7th on a Forbe’s list, The World Billionaires, Batista holds merit in his ability to evaluate Brazil and its current economy. Brazil’s economy is currently thriving. Recent activity such as Brazil’s development of a national “super-port” to sustain global trade and the country’s agricultural success give the nation large credibility in the sense of economic stability. Nicknamed “the highway to China,” this super-port demonstrates Brazil’s growth as a nation. Brazil has rapidly become a major player in the world today. With the sixth largest global GDP, a massive infrastructure and countless economic factors to support a nation, Brazil shows great prosperity to achieve success from hosting the 2016 Olympics. Before the Olympics however, Brazil will host the 2014 FIFA Soccer World Cup. This achievement, as well as a UNESCO title of World