The REAL Economic Impact of the Olympic Games
1. Happiness is a Warm Olympics
They say happiness can't be measured in financial figures, but British bank Lloyd's disputes that notion. Based on analysis of other sporting events, Lloyd's anticipated that London 2012's positive effect on the public mood will lead to improved consumer confidence, which will result in a rise in consumer spending and, therefore GDP. The bank measures the "happiness effect" of the games as the equivalent of a gift of ~165 pounds (US$257) to each man, woman, and child in England.
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio
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