AN ECONOMIC APPROACH TO THE OLYMPIC GAMES: THE OLYMPIC MARKETING REVENUES

Abstract

The Olympic Games (OG) are the world’s greatest sporting event, gathering athletes from more than 200 states. They bring into the spotlight not only the sports competitions featured on the Olympic program, but also the image of the host community and country, and each people’s culture and heritage. Lately, great emphasis has been placed on the economic component of the Olympic Games. This paper aims to outline OG economics through the funding programmes for the Olympic Movement. The timeline of this paper covers the period from 1993 until 2016. With every new edition, the Olympics raise more and more revenue, even if still falling short, by far, of the organisation costs incurred. The revenue generated by broadcasting the sporting events accounts for the largest share in the total income, as opposed to the licensing revenue, which is on the lowest end. Also, there is usually a significant difference between the summer OG and the winter OG, the former generating higher revenue.