The 2012 London Olympics is around the corner. After waiting for four years, sports lovers can finally enjoy the spectacular excitement performed by top tier athletes from around the world.

The 2012 London Olympics is around the corner. After waiting for four years, sports lovers can finally enjoy the spectacular excitement performed by top tier athletes from around the world.

The construction is nearly finished. The event has been promoted with media coverage and “Life is a race. And I’m gonna win,” the theme song, through every country. During such economically depressing era, Olympics might be one of the few beacons of hope, especially to England citizens.  

Imagine how much business opportunity will be brought by tourism. The transportation, the hotel industry, and the food industry… you name it. In addition to the government’s subsidy, a great deal of jobs has been undoubtedly created, triggering economic growth in England.

However, it’s hard to say such short-term prosperity will last as a long-term development.

Take the Beijing Olympics as an example—the 2008 Olympics were considered as a starting point of China’s economic rising power. The historical and economic significance of the Olympics were self-explanatory through this magnificent event. Foreign investments endlessly floated into China along with tourism. Beijing Olympics did reach an underlying advertising purpose: China is rising.

After four years, many of the sports arenas and fields have sat, gradually being forgotten by people. On the economic level, several indicators suggest China’s growth is declining. The glorious 2008 Olympics apparently could not guarantee long-term prosperity. A single country’s prosperity still could not resist the global recession.

To some degree, England people also expect to see this Olympics as a turning point, pivoting on the decaying economy caused by the whole European debt crisis.

Many European countries have undergone recession for years. Several financial and monetary measures have been employed, trying to redirect economic growth back to the right track. Instead of recovering gradually, a lot of them suffered further recession and higher unemployment rates.

Our passion toward the Olympics will never cease, in which we will still be willing to either invest or consume things pertaining to Olympics. Nevertheless, as the European Union members are entangled with debt crisis, chances are the 2012 Olympics will just be another temporary splendor.


Emily Hsu holds a Master’s Degree in Political Science from University of California, Santa Barbara. She is interested in interaction between nations, organizations, and people within the political arena.

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