Cost-Benefit Analysis

On my cost-benefit analysis, there is quite a big difference between the costs and benefit. On the costs side, I got 65.5 points, whereas on the benefits side,
I got 39 points. Most of the points were social, and I expected this as I knew that the Olympics all had to do with people. There were a lot of environmental
issues as we were producing so many carbon emissions, cutting down a lot of trees and so on. Although there werent as many positives I expected there to
be, I was shocked at how many things we can pick on about the Olympics and how little we could say that was good about the Olympics. But I think its the
buzz that wants us all to be excited for the Olympics, nothing else as when you really think about, the Olympics arent worth as much as we thought they
really were. Most of these points do not just affect Newham, but affects the whole of Britain and some even internationally. However, some of the points
affect Newham on its own, such as the mortgage prices and the rehousing, and some of the points affected only the parts of Britain which are not in
Newham. Also, the points about the flights are only internationally as it would be very unlikely that someone from United Kingdom would fly in.
Personally, Im glad we are hosting the Olympics. Yes, it might end up costing the taxpayer a lot. Its a once in a lifetime opportunity to host the most
important sporting event on the calendar. The Olympics may well make an economic loss in the short term, but does everything have to be ruled by profit
maximising decisions? People will say its better to spend the money on health care and education. I dont doubt these are higher priorities. But, we spend
over 80bn on health care every year. I dont see why we cant spend 1bn on promoting the Olympics as a one off event (which might actually encourage
people to be fit and therefore need less health care).
I have come up with this answer because last week in class, when we heard different viewpoints of the Olympics, I found that very interesting and that
overall, most people came up with negatives rather than the positives. I believe that the Olympics is giving a lot of environmental hazards but at the

same time, they are sort of helping as they save wildlife from dying its almost like trying to repay back all their wrongdoing. Nevertheless,
all these problems cant exactly be helped by the Olympic Committee. In order for the Olympics to be carried in any country, the same points
would have been made so there really is no point on moaning about them. My main point is how we are making the Olympic Stadium and
then we are knocking it down after the 3 weeks of the Olympic Games duration. We have spent 1billion and then we put it to a waste. But
why? I know the reason why, it is because we did not buy the land as there was none to buy and so we rented it. However, if we had waited
for a little while (as in not get the 2012 bid) and bought the land properly, I suppose we might have kept the stadia for later use and let it be a
tourist attraction, like the one in Sydney, Australia.
Although we may think that having new jobs available is a good thing, they are only temporary. Once the Olympic Stadium has been
finished building, the builders, plumbers and electricians wont be needed for. Most of the jobs are impermanent meaning that some young,

Cost-Benefit Analysis

potential people may hold the hope of becoming a professional engineer etc, but then become disappointed. The media: this is a big one!
During and after (maybe before) the Olympics, as London will get a hopefully good reputation, media will give responses about all the events
and possibly about some of the teams. Tourists will then see this, and then think Oh, it seems that London is a good place to visit, I want to go
there now! and so London will get lots of profit from tourism and media. This will probably carry on until the next Olympics takes place in Rio
de Janeiro, Brazil.
Despite not writing about this, the sponsors give a lot of money to help the fund of the Olympics. Sponsors such as Cadburys are
paying so much money just to have the Olympics emblem on their wrappers, etc. This is a good way to increase the profit of funds. Here comes
a mixed opinion one: does Newham need renovating? Lots of people think it does, however the people who have been living there possibly
the longest (and may know the most) dont want it to be. Of course, everybody who pays tax will be paying for these costs so it can be a right
pain but however, some residents would like to see a new town. They dont want to see the disgusting, rat-infested Newham anymore, but see
a brighter and more beautiful Newham. But some people dont want the fancy things happening and just want to see a plain old town. So what
to do? Well, the people who want Newham to be renovated have won! (Sorry).
What about the transport? They been made to become fast and flashy, but where is all the money coming from? From our pockets, of
course! We end up paying for everything (and mind you, theyre not cheap) and what do we really get out of the Olympic Games? Not much, I
tell you, all we get is a brighter Newham, nice trains and an Olympic Stadium that will be knocked down a few days after the Olympics have
finished. Oh, and the events, of course (mustnt forget those!). Nonetheless, we could watch all the events in Hi-Def on our TV screens at
home, curled up with a nice cup of coffee, but I guess that it just wouldnt be the same to go and watch the games for real and to watch it on
our sofas. Oh well :S.

39

65.5
Trees and grass
are being chopped
so that they can
use the land for
the Stadium
buildings. This is
harming
environment a lot.
The prices for rent
and mortgages are
growing higher as
of the scarcity of
houses/offices
available. (So
people may not
afford to relocate).

Cost
People were happy of where
they were living, and now
they have to move (which is
unfair). This also means that
the learning of children is
being disrupted.
The investment is short
term. Many facilities can
only be used for the 3
week duration of the

The rivers will be full of

pollution and as the works
carry on, people will litter
more and more.

The public transport that

is being refurbished is
very good as it mean all
services are faster, newer
and better.

Cost-Benefit Analysis

For some people, they think

K
Newham has been renovated
enough and doesnt need any more.
The tickets are very expensive
They believe that they should waste
and so to people such as
resources and so instead leave
students, its is quite hard to
come and watch it. (However, it Newham the way it is.
has been dealt with as tickets
vary in price so that some are
affordable for young people.
The Olympics should
be informed to more.

It may be there one and only chance

to go and see the Olympics in front
of their very own eyes, as not many
people can afford to travel 1000s of
miles to see the next one.

It provides jobs which

is important in times

The Community
Sports Centre feels as
if they are training
the future Olympics
team so to them, it is
great that the
Olympics are so close.

of a recession.

People who live far in

England may not be able
to come as travel and
accommodation are quite
expensive (especially in
the Olympic Area).

Community Centres,
which are used by
everybody, are being
destroyed.

Lots of people, including

the young and elderly,
who live in council houses
around Newham are
being asked to move out,
regardless of all the
memories and time they
have lived there. This is
quite upsetting for some.

Benefit

As London is aiming to have the

greenest Olympics held; people may
be encouraged to become greener
and help look after the environment.

The people who were forced to

leave were given 8,500 as
compensation as well as the
value of the house.

The wildlife is being restored

as although they are moved
in order to let the work go
We are building on a
Some
of
the
on, they are then returned to
Brownfield site, meaning
companies
will
benefit
Olympics.
another part of a lake.
that we are producing toxic
from the
This whole project is bringing gases which can damage the
London itself will have
demolishment of their
in so many Co emissions (such environment.
good responses from
buildings.
as the travel from aeroplanes
media, tourists, etc.
and trains) and so the
meaning that a lot of
environment is being damaged
As many people may not drive, public transport will end up being too busy, therefore making people late to their
profit will come from this.
thoroughly.
event. (Train Stations may also be closed for a certain period of time, meaning that they will be even busier.