Investigation of the impact of athletics on the domestic economy. (and specifically on the economy of GREECE)


Investigation of the impact of athletics on the domestic economy. (and specifically on the economy of GREECE)
Investigation of the effect of sport on the domestic economy
1 Introduction
Sport is a physical activity that serves a specific purpose and is performed by executing certain
actions aimed at high physical performance and good performance in sports games (Zervas,
2002). Of course, the dimensions of sport in society are numerous and indicate cultural and
social customs of a people. In Greece, sport constituted since antiquity a commodity that had
cultural and educational character that contributed to shaping society.
The benefits of sport but not limited to the formation of culture and education, and strengthen
the economy. Small and major sporting events held in a country usually generate profits for
companies, workers and athletes and thus for the whole society. A fairly typical example is the
Olympic Games are held every four years in a different country, which contribute to increased
economic inputs due to high traffic stakeholders (Jeffrey, 2016).
Generally, major sporting events, where fighting professional athletes are able to increase the
revenues of an economy through tourism, which is growing in order to monitor the games. The
Olympic Games, major competitions of football and basketball are the key sports events that
stir the interest of most visitors as they are the most popular sports, at least as far as Europe.
To serve the basic themes of this study should not separate sport into two categories amateur
and professional. However, there are many studies that separate sport at professional,
amateur, mass and physical activity (Biddle & Mutrie, 2008). In this study, we will restrict
ourselves to the category of professional sports where the main factor influence the economy
in relation to other categories mentioned (Anagnostopoulos, et al., 2012).
Sport and the economy are two factors of society interacting. However, it should be
emphasized that despite the reported interaction is completely different degree of influence of
sport on the economy, the influence of the economy in the sport. It can only change the effect
relationship in the above finding, but along with this change and a host of different capacity
2. Literature Review
The scientific interest around the impact of sport on the economy is sufficiently increased,
especially with the advent of the global economic recession that most countries are seeking
means by which they can increase their income. Furthermore, sport as a key component of the
economy has been studied for the effect of major sporting events in the economy of a country.
To 1991 the Murphy and Carmichael developed a theory about how it should be measured by
the rewards of an open sports competition. In particular, the winter games were investigated in
1989 in Canada. Research shows this methodology to the data of tourism expenditure
associated with sporting events should be collected. The methodology includes the assessment
of spectator numbers, which combined with a number of participants and the corresponding
expenditure can lead to the provision of direct expenditure should be made for a particular
sporting event. The costs are calculated finally compared with the corresponding revenue can
be gained from one country to organize a sports event. This research has contributed to the
creation of a more systematic way of dealing with the calculation of costs and may be applied
to other sports events (Murphy & Carmichael, 1991).
The Crompton (1995) conducted a survey which analyzed the economic impact of sports
activities / events and eleven errors leading to wrong assessment of the economic impact of a
sport event on the local economy. The economic impact of a sport event need to be
investigated as many events sponsored by public budgets leading to increased interest for
further analysis of the economic factors that can contribute to the improvement or
deterioration of an economy. Economic analyzes conducted, as the researcher says, is often
inaccurate and presenting false information in relation to the profitability that can bring the
organization of a major sporting event in the local economy. With this trigger further
investigated eleven major players who may be inaccurate in relation to the financial results of
the impact of a sporting event economic analysis on the domestic economy. The survey
concludes that many times abused research tools, in particular multipliers aimed at studying
the economic impact of a sport event. In particular, it concludes that the multipliers overstate
the economic benefits of private business and many times leading countries in reckless
investment of public money in sporting events (Crompton, 1995). Finally, in connection with the
study of Gratton, Dobson and Shibli been a divergence where these eleven factors criticized
from the Crompton study are considered influential by scholars.
To 1995 another survey Brunet developed the economic impact of the Barcelona Olympic
Games in 1992. The research analyzed the sources of the games and the projects in which
allocated money which were presented and in order of importance. Specifically, these projects
were roads and transport infrastructure, office facilities and commercial premises,
telecommunications services, hotel facilities, sports facilities and environmental infrastructure.
The state subsidized, 67.3% of the total costs for carrying out competitions. The study
concludes that both the indirect and direct investments made were very positive impact on the
Spanish economy, but did not have the same reciprocity in relation to other companies that
had revenues from television rights and sponsorships. But in general the returns of the funds
were positive which is not seen in all their respective races were held in the past (Brunet, 1995).
The Gratton, Dobson and Shibli, conducted a survey in 2000 which was related to the economic
importance of the six largest sporting events. The survey was conducted in 1997 and its main
objective was to assess the economic impact of six major sporting events in the UK. As shown in
the above survey sporting events are part of the overall tourism planning of a country that
wants to attract more visitors to eventually increase its revenues. The organization of sporting
events from one country, entails the same time the contribution to the costs required to realize
the sports event. The local economy contributed to an organization in order to increase traffic
and gain significant benefits. The survey measures the economic impact of major sporting
events through an analysis tool of a multiplier. The multiplier converts the total amount of the
host state spending in a net amount of income of the country from which the costs of sporting
event finally removed. The results showed that sporting events attract a lot of interest but it is
difficult to predict at the outset whether it can be profitable for a country. Also, a key
conclusion is that Great Britain has increased the tourism industry through the organization of
major sporting events. So, these sporting events are able to increase the revenue of the state
but fluctuate according to the size of the event. Finally, as the characteristics mentioned in the
conclusions of the investigation can not be guaranteed at the outset, that a large sporting event
is important economically for a country (Gratton, et al., 2000).
The Dwyer, Forsyth and Spurr (2005) evaluated the impact of major sporting events in an
economy. More specifically, the methods investigated by which assessed the relation costbenefit
of big events in one state. Analyzes both the traditional and alternative methods for
evaluation of an event based on different scientific approaches. Emphasis is given to
assessment models that estimate the overall balance (General Computing Equilibrium Models).
These economic models that make use of actual economic data and estimate that the economy
might react to changes in various factors such as politics, technology and other external factors.
Of course, the study investigates the ability of these models to calculate the reaction of the
economy to the organization of major sporting events. The research concludes that the GCE
models are appropriate research tools to measure the economic benefits of a country from the
organization of sports events (Dwyer, et al., 2005).
To 2006 o Manzenreiter developed a survey which analyzed the social impact of major sporting
events in a country. Particular emphasis was placed on the economy which is a mainstay of
society. The study concludes that major sporting events can not have equal economic benefit
for a state than a private enterprise that has invested a sum of money in the sporting event.
This is due to the social dimension of the State can not obtain equal benefits to a private
enterprise where everything should be contributed greatly to its citizens (Manzenreiter, 2006).
Finally, a key finding of the study is that the social impact of a large sporting event is large and
can affect all areas of a country.
To 2008 the Ownen estimated the cost-effectiveness of the combination of Olympic Games
hospitality in a country. In particular, he tried to investigate what results you should expect
from the Beijing Olympic Games in 2008. The countries hosting the Olympics should make
investments in pitches and other infrastructure. As stated in the study, the scientific community
often assumes that both major sporting events can have a positive impact on the economy of a
country. But yet, as says the researcher, these studies are supplemented by elements that are
not properly applied and thus provide state revenues trillion. The study concludes that if the
Olympic organizers in Beijing based on estimates of previous studies in relation to the revenue
that can be made, it will certainly be disappointed (Owen, 2005).
Sport can affect the economy not only through government investment and by increasing
private business revenues, which by extension contribute to the improvement of the country’s
active economy. Study was developed in 2013 by Ciqin who investigated the culture of
businesses operating in the sports industry and the impact of their actions on the real economy.
The study uses as research tools interviews and questionnaires about how sports companies
operating in China and explores the factors that may cause the problems in the operation and
The research concludes that increasing sports business revenue comes from a number of
factors, mainly linked to the increase in sporting events. Sports activities in China face a lack of
systematic organizations, few funds and lack of trained personnel. However, a concerted effort
to improve the existing situation would increase the state revenues from increased sales of
sports business (Ciqin, 2013).
These studies, which are a brief literature review of the impact of sport on the domestic
economy, often have conflicting views about the economic benefits that may arise from the
organization of a major sporting event in a country. Also, differences observed in relation to the
most appropriate way of measuring the economic impact of sport in a country. The literature
review highlights relevant factors that should be explored in order to effectively measure the
extent to which economic sport influence a country.
So that would cadet to investigate (a) the size affecting sport the Greek economy and (b) the
types of sporting events that affect more the Greek economy.
Keywords: Sports, Economy, Economic Impacts, Sports Leagues, Government Investments.
3. purpose
The present study aims to investigate:
1. The size affects sport the Greek economy in particular will be analyzed oldest sporting events
and the extent to which they affect the economy.
2. The types of sporting events that affect more the Greek economy such as the Olympics and
major football events.
3. If there are other sporting events can take place in Greece or have held in the past and have
an economic impact on the domestic economy.
4. Other sports-related factors can affect the economy such as sports companies, statutory
organizations and sports betting shops.
4. Research hypotheses
The main research hypothesis of this study is that there is sufficient statistical correlation
economy sport in Greece. In particular, there will be mapping the current situation and then be
measured and the economic impact that could arise. An important finding is the degree of sport
correlation with the economy. A secondary research hypothesis will be to explore the statistical
significance between major sporting events and the economic impact they may have on
government spending and subsidies.
5. Methodology
5.1. population research
The sample will be the largest sports federations in Greece (Olympiacos, Panathinaikos, PAOK
and AEK) in all sports as well as sports committees organize tournaments in Greece. Also, a
significant population of the survey will be professional economists.
The sample selection criteria are: ? Professionals graduates of finances who have a work experience of over 5 years. ? groups and clubs have continuous activity in the Greek territory.
The sample exclusion criteria are: ? Graduates economists who have no work experience or work experience under 5 years ? groups or clubs have no participation in major sporting events such as first class sports teams
The above study is a perspective that will have a correlation and descriptive character. Data
collection will be done through anonymous questionnaires that will be distributed in both
strains of the groups mentioned above as well as professional economists with work experience
of more than five years.
5.2. research tools
In this research will create new questionnaire with questions based on literature review and the
objectives set for the study. In general, so far the issue has been studied only in accordance
with economic data and the use of economic impact prediction models. So to investigate this
matter with the questionnaire is a novelty for research data.
The questionnaire consists of 40 questions which will be sorted by subject category that is
based on existing literature. To answer the questions there is a special scale of 0 to 5 and which
will assess the degree of impact of certain sporting events in the economy. Finally, the
correlation of sporting events to increase government revenue and employment will be found.
5.3. Statistical analysis
Statistical analysis will be done through a statistical program called SPSS where the answers will
be listed in the questionnaires through SPPS Data Entry. For correct data entry will define
specific restrictions and rules in order to reduce the possibility of error. Once the statistical
analysis will be performed and control data introduced and the necessary corrections where
6. Presentation and evaluation of results
After statistical analysis followed the drafting of the final study describing the statistical results
in the form of charts and tables. While fully analyzed and all steps of statistical analysis.
Biddle, S. & Mutrie, N., 2008. Psychology of physical activity: determinants, well-being, and
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Brunet, F., 1995. An Economic Analysis of the Barcelona ’92 Olympic Games: Resources,
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Ciqin, L., 2013. A Probe Into Sports Culture Of Entrepreneurs Under The Conditions Of Market
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