Sunday, June 2, 2019

Did Japan Benefit Economically as a result of the World Cup 2002? :: Economics

Has Japan really benefitted economically as a result of the World shape 2002? origination============From the 31st of May until June 30th, Japan & Korea hosted the World cup in which 32 teams competed to be crowned football champions of theworld. Many thousands of people watched the matches live and hundredsof trillions worldwide watched on T.V. The World Cup has been the closelypopular sporting event ever since the 1930s when Uruguay hosted andwon the first ever World Cup. Since then the World Cup has been hostedevery four year in different countries apart from during World War 2and there have been 17 World Cups. Since the 30s football has becamethe worlds most popular sport and with the introduction of commercialair flight, motorcars and the global T.V network it has become animportant source of revenue. In 1994 the World Cup was hosted in the ground forces and a record 3,587,530 people watched it live. Since the 1986World Cup held in Mexico the total attendance had begun to rise toover 2 million live viewers a World Cup. This would result in hostcountries gaining massive revenue from ticket sales and money receivedfrom the T.V companies broadcasting the match. The rights forbroadcasting the 2002 World Cup were bought for 622 million byKirchmedia showing just how valuable World Cup football is. Also astudy by HSBC securities in 1998 showed that countries which hostedthe World Cup subsequently 1966 saw their respective stock markets do betteron average by 9%, 6 months prior to the tournament. However the studyalso showed that 6 months after the tournament most markets underperformed by an average of 6%.In 1998 Japan was chosen to joint host the World Cup with southeastward Koreaand began a vigorous development project to upgrade and build good timber stadiums, improve public transport, build more hotels andcreate an excellent security system force for the games. Stadiums such as theShizuoka stadium, Sapporo dome, the Oita stadium and Niigata stadiumwere b uilt just for the games and are considered some of the mostmodern stadiums in the world. Japans aim from the 2002 World Cup wasto attract many tourists, have a smoothly run games, encourageJapanese citizens into football and to improve its internationalreputation as an excellent daub to host international sports events.From joint hosting the World Cup Japan achieved many economic benefitsand in this essay I will explain how and why this better Japanseconomy. The Japanese economy improved because of the followingeffects of the World Cup during and before the event.Economic Concepts=================Economic growth is caused by improvements in the quantity and quality

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