7_Impact of Achievements in sports on Macro Economic Indicators of a country_6 Min Dream

Impact of Achievements in sports on Macro Economic Indicators of a country

 

Group 7

·         Jose Vinay (425/15)

·         Prashant Pande (438/15)

·         Poonacha KM (440/15)

·         Rittu C Joseph (446/15)

 

Problem Statement

·         Is it a pure coincidence that a few countries have seen a positive impact of achievements in sports on their economy?

·         If yes, is there some pattern or some correlation which exists?

·         If there is any impact, does a team achievement have a greater impact or an individual achievement?

·         How big an impact can the economy see if it bags contracts of hosting major events like Olympics, Common Wealth Games or the Asian Games?

·         How much impact does the magnitude of the sport event have on the country?

·         Who are more sensitive to such events - developed, developing or the underdeveloped countries?

·         Also looking forward to explore a whole lot of relationships which could exist between achievements in sports and the overall economy.

Data Source

The trends and variations of the various Macroeconomic factors of different countries are available on the websites of Asian Development Bank, Wikipedia and other sites over the internet.

The achievements of different countries in sports are available on a host of news feeds (BBC, CNN, NDTV etc) and sports web sites (ESPN Start Sports, Cricinfo etc).

Benefits

Government: We expect that the outcome of this report would help government bodies to decide upon the attention that sports should get. A strong dependency will encourage the government to pay more heed to sports.

Sports Authorities: Sports authorities can use the outcome of this report for raising funds.

Investors: It will also be an important piece of information for investors and the common man, this can act as a straw in the wind to help them identify appropriate times to enter the market.

Basically, a positive outcome of the report could help in increasing the awareness among people about the importance of sports.

Expected Outcomes

At this point of time, the relation between these two factors appears to be loose, if at all it exists. However there have been sporadic instances which hint towards the existence of a positive impact which achievements in sports have on the Macroeconomic factors. The project aims at unearth this relation if it exists.