Hosting an international sports event in a country has been an age old tradition to interact and socialize with people from a faraway land. This not only increases the market value of a country and open doors for trade and tourism but is also beneficial from a political standpoint. People living overseas come to visit the host country to participate and attend sports events. There are a lot of sports events that are conducted on an International venue which people travel to watch. Some of the popular ones are The Olympic Games, The Grand Prix and Indian Premier League. Hoards of people from all over the were going to travel to Italy in the year 2020 to watch the Grand Prix but because of the pandemic it had to be cancelled. Countries invite foreign nationals to events and this helps improve inter-country relationships between nations.
To attract foreign travel the host countries also put in a lot of work in developing real estate infrastructure. This leads to development and employment generation for the host country. Aside from attending the event, people love to vist local destinations and this creates a lot of income for the host countries.
However, everything comes at a price. Countries deploy a lot of resources preparing for events thus sometimes resulting in wastage and depletion of treasuries. Countries incur a lot of debt thus creating unnecessary pressure on the economy and its people. Hosting such an event is a costly affair and might not be totally suitable for countries with low economic reserves. There is also increase in financial crimes such as frauds during events and increase in corruption is also a problem that becomes difficult to deal with.
Hosting an international sports
event
in a
country
has been an age
old
tradition to interact and socialize with
people
from a faraway land. This not
only
increases the market value of a
country
and open doors for trade and tourism
but
is
also
beneficial from a political standpoint.
People
living overseas
come
to visit the
host
country
to participate and attend sports
events
. There are a
lot
of sports
events
that
are conducted
on an International venue which
people
travel to
watch
.
Some of the
popular ones are The Olympic Games, The Grand Prix and Indian Premier League. Hoards of
people
from all over the were going to travel to Italy in the year 2020 to
watch
the Grand Prix
but
because
of the pandemic it had to
be cancelled
.
Countries
invite foreign nationals to
events
and this
helps
improve
inter-country relationships between nations.
To attract foreign travel the
host
countries
also
put in a
lot
of work in developing real estate infrastructure. This leads to development and employment generation for the
host
country
. Aside from attending the
event
,
people
love
to
vist
local destinations and this creates a
lot
of income for the
host
countries.
However
, everything
comes
at a price.
Countries
deploy a
lot
of resources preparing for
events
thus
sometimes
resulting in wastage and depletion of treasuries.
Countries
incur a
lot
of debt
thus
creating unnecessary pressure on the economy and its
people
. Hosting such an
event
is a costly affair and might not be
totally
suitable for
countries
with low economic reserves. There is
also
increase in financial crimes such as frauds during
events
and increase in corruption is
also
a problem that becomes difficult to deal with.