Euro 2012 as a growth and development driving event for a small, open economy

Abstract

The aim of the thesis is to estimate whether Euro 2012 as a sporting event can have a positive impact on Polish economy, and if so to what degree. The problem lies in answering the question “Does a three-week event can have a significant positive influence on a small open economy?” Is it worth years of preparations and spending billions of Polish zloty’s? What effect will Euro 2012 have in a long run? Therefore, I will try to evaluate pros and cons and finally estimate probable impact of such an event on Polish economy. The main hypothesis is that Euro 2012 will have profound influence on Polish economy; it will have a positive impact on modernizing infrastructure in a country which encompasses building hotels, railway tracks, new motorways as well as renovating already existing roads connecting hosts cities. In first chapter, I will describe theories of growth and development, and look for similarities and differences between them. In second part, I will analyze factors contributing to increase in economic growth and progress. Furthermore, my paper includes description of other factors contributing to growth and development In third chapter, I will focus on issues related to Euro 2012 event such as origins and rules of football, business activities associated with the tournament, and investments necessary for modernizing Polish infrastructure. Last chapter is organized in the form of influence of Euro 2012 on Polish economy. Therefore, I found numbers concerning the effect of former European and World football tournaments on host countries economy, and accordingly had an opportunity to compare their growth rates with foreseen Polish growth rate. In order to obtain such numbers, I made some calculations in ITSM and Excel. My estimations seem to be probable, as prominent personages make similar predictions.