(The Budget)Funding and sourcing of London Olympic Games 2012 current Essay

(The Budget)Funding and sourcing of capital of the United Kingdom Olympic Games 2012 current challenges and issues - Essay ExampleThe budget funding and the capital sourcing for the 1948 London Olympic Games was more straightforward than now, as everything was paid for selectly by the British taxpayer.1 Besides at that stage less extensive sporting facilities were required as thither were fewer sporting events and there were also participants and spectators than expected for the London Olympic Games of 2012. Put simply to be ready for the London Olympic Games of 2012 the British capital has to build new sporting facilities as well as updating its available accommodation, and blend in infrastructure. In 2012 it would not be acceptable to house either athletes or spectators in obsolete army barracks to keep costs down as happened in 1948.2 The organisers of the London Olympic Games of 2012 also name to think about extensive security measures as the 7 / 7 attacks demonstrated Lond ons vulnerability to terrorist attacks.3Modern Olympic Games have actually needed a great deal of direct capital investment from both the private sector and also the private sector organisations and sectors in crop to construct world class sporting facilities alongside suitable accommodation for athletes and spectators as well as effective travel infrastructures. Most of the modern Olympic Games have gone over budgets, even if the mass of construction work was done before the games started. The British government has also had a past degrade of building projects and various venues that have gone over budget and being late, for instance the Millennium domed stadium and the Scottish Parliament building.4Recent Olympic Games such as those in Sydney 2000, Athens 2004, and the latest in Beijing 2008 all managed to boost great sporting facilities besides suitability impressive accommodation and travel infrastructures. These Olympic Games were all very expensive to host and required sig nificant amounts of budget funding and sourcing to be staged effectively.