The budget for the 2012 London Olympics continue to rise as additional security continues to be added. Reuters UK reports that about 6,000 troops have been recruited to add to security for the Summer Olympics. The troops are being considered to work the games because of the already added private firm G4S’s 10,000 (and likely increasing to 22,000) civilian guards for the two week long event.
The London Organising Committee (LOCOG) is responsible for hiring G4S, as well as working with the government to create a safe and secure Olympics. The LOCOG budget went from initially 29 million pounds to 432 million pounds. The government security budget is also listed at 475 million pounds.
What This Means
The costs of hosting the Olympics is extremely expensive. In recent years, the Summer Olympics typically spend around 5 to 8 billion dollars in order to build the proper facilities, methods of transportation, and other accommodations for Olympians and spectators alike.
For 2012, the security is extremely necessary. These reports come only months after the country experienced riots, which were fairly prominent in Greater London. For precautionary reasons, this seems logical to have as many security on reserve as possible. The Olympic games are meant to be a glorious event that brings together countries, but as history has shown, these events have not gone without danger.
The London Organising Committee (LOCOG) is responsible for hiring G4S, as well as working with the government to create a safe and secure Olympics. The LOCOG budget went from initially 29 million pounds to 432 million pounds. The government security budget is also listed at 475 million pounds.
What This Means
The costs of hosting the Olympics is extremely expensive. In recent years, the Summer Olympics typically spend around 5 to 8 billion dollars in order to build the proper facilities, methods of transportation, and other accommodations for Olympians and spectators alike.
For 2012, the security is extremely necessary. These reports come only months after the country experienced riots, which were fairly prominent in Greater London. For precautionary reasons, this seems logical to have as many security on reserve as possible. The Olympic games are meant to be a glorious event that brings together countries, but as history has shown, these events have not gone without danger.
For the economics viewpoint, having security at its maximum may seem to be wasted budget, but the costs that may occur by having too few of security would be a much greater harm to the United Kingdom. Perceived image of the country by spectators viewing around the world is extremely important; if people see that London is in great condition, many may consider traveling to the United Kingdom, improving tourism for the country. This is crucial for countries that are always competing for additional revenue to bring into their economy.
Reuters U
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