Reference no: EM134018753

Questions

Toronto Summer Olympics.

Question 1.

To prepare for the Olympics, host cities often have to spend a great deal of money. Describe three things that would cost $10 million dollars or more, and that Toronto or another government (such as the province of Ontario or the Canadian federal government) would have to pay for if they wanted to host the 2032 Summer Olympics. Your examples cannot include the cost submitting an Olympic bid (mentioned in the background information above) or the cost of building facilities for the sports events. For example, you could not use the cost to build a track and field stadium for this question.

Question 2.

If the city of Toronto hosted the 2032 Summer Olympics, describe two economic activities or businesses in the city that would be affected by economic complements, multiplier effects, or importation. One of the activities or businesses you describe must draw on the information presented on Toronto's Tourism Sector. For each of the two activities or businesses you choose, you must describe whether the economic benefit is an example of a complement, multiplier effect, or importation.

Question 3.

If the city of Toronto won the right to host the Summer Olympics, describe two economic activities or businesses in the city that would be affected by opportunity costs, leakage, or substitution. As with question 2, one of your examples must draw on the Toronto Tourism Sector information. For each of your two activities or businesses, you must describe whether the economic drawback is an example of an opportunity cost, leakage, or substitution.

Question 4.

Describe a project that Toronto would have to spend a lot of money on for the 2032 Summer Olympics that has a strong chance of becoming a white elephant. Explain why it would likely become a white elephant.

Question 5.

If Toronto won the right to host the 2032 Summer Olympics, explain whether or not the city would receive the benefits of the "hidden gem effect" like the cities of Barcelona and Salt Lake City did. Your explanation must draw on the Toronto Tourism Sector information.