In any major sporting event, such as the FIFA World Cup or the Olympics, there is always a great celebration and positive atmosphere surrounding such events. Hosting these events is usually a great honor for the selected countries and brings with it many favorable consequences. However, no one realized that every time these major sporting events occur and are hosted, they come with so many negative consequences that outweigh all the positive things that come from them. So the question remains: are the Olympics a cash cow or a money pit for host countries? In my opinion, the Olympics could actually bring more benefits than losses to the countries selected to host them, which should bring positive economic and cultural benefits, both a legacy and a source of money for the host countries, hosting this event could promote development for the educational legacy and ultimately eradicate poverty among citizens. First, hosting a major sporting event like the Olympics could actually bring economic and cultural benefits to Olympic host countries. The Olympics have a very broad scope these days. This is an advantage especially with the existence of social media and the Internet today. From an economic perspective, it could actually be a very powerful marketing and publishing tool for the host country. With all the technology available nowadays, it is actually a good way to promote a certain country to the world. This will ultimately increase the economic level of the host country, as they will receive visitors from all over the world and will eventually spend their money in the host countries, thus improving their economy. Winbey (2014) states that the 1984 Los Angeles Olympics are something...half of paper......sh-cow-or-money-pit-7403 http://www.theatlanticcities.com/politics / 2012/07/why-hosting-olympics-bad-cities/2689/ http://epress.lib.uts.edu.au/research/bitstream/handle/10453/19780/Impact%202005_5.pdf?seq http: / /qed.econ.queensu.ca/working_papers/papers/qed_wp_1097.pdf http://news.nationalgeographic.com/news/2014/02/140221-olympics-sochi-rio-de-janeiro-london-boris-johnson - montreal-athens-world/ http://www.studymode.com/essays/Benefits-To-The-Uk-Of-Hosting-614340.html http://www.theatlantic.com/business/archive/2012/ 07 /3-reasons-why-hosting-the-olympics-is-a-losers-game/260111/ http://www.debate.org/opinions/is-hosting-the-olympics-a-net-benefit- for -the-host-city http://www.studymode.com/essays/Benefits-To-The-Uk-Of-Hosting-614340.htmlhttp:http://blog.skepticalllibertarian.com/2014/03/03/ olympic-style waste-why-america-should-stop-competing-for-the-olympics/