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

Has lacquer really benefitted economically as a aftermath of the land form 2002?Introduction============From the 31st of May until June 30th, Japan & Korea hosted the publicCup in which 32 teams competed to be crowned football champions of theworld. umteen thousands of people watched the matches live and hundredsof millions worldwide watched on T.V. The earthly concern Cup has been the just about favorite sporting event ever since the 1930s when Uruguay hosted andwon the low ever World Cup. Since then the World Cup has been hostedevery quaternion 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 run low animportant source of receipts. In 1994 the World Cup was hosted in the ground deplumes and a record 3,587,530 people watched it live. Since the 1986World Cup held in Mexico th e amount attendance had begun to rise toover 2 million live viewing audience 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 after 1966 saw their respective stock markets do betteron average by 9%, 6 months preliminary 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 elect to joint host the World Cup with South Koreaand began a active development project to upgrade and build goodquality stadiums, change public transport, build more hotels andcreate an subtle security force for the games. Stadiums such as theShizuoka stadium, Sapporo dome, the Oita stadium and Niigata stadiumwere built just for the games and atomic number 18 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, march onJapanese citizens into football and to improve its internationalreputation as an excellent place to host international sports events.From joint hosting the World Cup Japan achieved many economic benefitsand in this essay I will explicate how and why this improved Japanseconomy. The Japanese economy improved because of the following make of the World Cup during and before the event.Economic Concepts=================Economic growth is caused by improvements in the quantity and quality