Economic cooperation between public and private sectors – a comparative analysis of the Olympic Games in Athens 2004 and London 2012

Abstract

The Olympic Games are considered to be the most important sports event in the world. In spite of the sports’ dimension of the Olympics, there are many other aspects which should be taken into consideration when thinking about the Olympics. These refer to economic, political, organisational and social fields. An appropriate budget, organisational structure, sports and non-sports infrastructure are just a few of the necessary issues. The major aim of this article is to present the spectrum of cooperation between the public and private sector during the Athens 2004 and London 2012 Olympic Games, the economic effectiveness of the Olympics in both cities and the realisation of the Olympic Legacy focused on post-game infrastructure and other facilities and areas of a socio-economic reality. The results of this study reveal that only a host city where an appropriate organisational structure, net of stakeholders, budget and strategy for Olympic infrastructure are established, is capable of drawing potential benefits from The Olympic Legacy.