With over two hundred countries participating, the Olympic Games are easily considered one of the largest multi-sport events known in history. The Olympic Games take place in another country, and even more rarely in the same city. For a country to be chosen to host the Olympics, the country's National Olympic Committee (the country's representatives at the Olympics) nominate a city (from the country they represent) that they believe has the potential to host the Olympic Games nine years before the date they want. to host the Olympic Games. This is a two-year process that includes: the application phase, the application phase and the election of the host city. The country that wins the elections has seven years to prepare for the Olympics. (International Olympic Committee, nd, p. xx-xx) The host country spends billions of dollars, usually money it does not have, to prepare for the Olympics. The question then arises: “Why would a country go to such lengths and spend a scandalous amount of money to host this event?” Throughout this discussion paper, we will discuss all the pros and cons of a country hosting the Olympics. It will also see whether a smaller sporting event can produce the same benefits as the Olympics, with fewer costs and risks. There are many benefits to hosting the Olympics, such as prestige, the creation of new facilities, and countless benefits. With so much that the Olympics have to offer, there can be many reasons why countries compete to be elected as the host nation of the Olympics. The most common reason why countries want to host the Olympics is their potential ability to significantly improve the country's economy. With the entire world participating in the Olympics, the host country can market...... middle of paper ......-some-greeks-are-looking-at-the-2004-olympics-as-a -losing-proposition/ Quebec's Big Owe stadium debt is over. (December 19, 2006). CBCnews. Retrieved January 18, 2014 from http://www.cbc.ca/news/canada/montreal/quebec-s-big-owe-stadium-debt-is-over-1.602530 Molnar, A. (August 15, 2011). Warning to London 2012 Olympics hosts as Greece grapples with economic and security problems: interview with political sociologist Minas Samatas. Safety games. Retrieved January 18, 2014 from http://www.security-games.com/news/warning-to-london-2012-olympic-hosts-as-greece-struggles-with-economy-and-securityThe Truce Timeline. (nd). International Center of the Olympic Truce. Retrieved January 18, 2014 from http://www.olympictruce.org/index.php?option=com_k2&view=item&layout=item&id=3&Itemid=268&lang=enRose, AK and Spiegel, MM (2011). The Olympic effect*. The economic review, 121(553), 652–677