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A Strong Economy Is The Secret To Winning Medals At The Winter Olympics

A Strong Economy Is The Secret To Winning Medals At The Winter Olympics

Colas provides some case studies. From the note:

  • Japan’s Winter Olympic performance history tells a post-WWII recovery story.  The country competed in three Winter Games (1928, 1932 and 1936) before it won its first medal – silver – in 1956.  Japanese athletes didn’t earn any additional medals until the 1972 games, which the country hosted, and have been consistently making an appearance on the podium since 1980.  Japan won its first medal when it was taking off as an emerging economy and getting its economic act together following WWII.  Industrialism in the country picked up rapidly following the war, and the Olympic medal consistency coincided with the consumption boom in the 1980s. 
  • South Korea’s Winter Games story is similar to Japan’s, just two to three decades later.  However, it did take South Koreans a bit longer to arrive on the podium – the country competed in 10 Winter Games before winning four medals in 1992 (two gold, one silver and one bronze).  Since then, South Korea has performed consistently well, earning a peak of 14 medals at the 2010 Games in Vancouver.  Just as the country fully emerged from the shadow of the Korean War, its athletes were solid performers on the global stage.
  • China’s performance history is also emblematic of a developing economy gaining critical mass in sport and economic growth.  Like South Korea, China won its first Winter Olympic medals in 1992 (three silvers).  Chinese athletes had competed in three prior games dating back to 1980 before the emerged on the podium in Albertville, France.  Also similar to South Korea, China consistently earned medals in subsequent Games, recording a high of 11 at the 2010 Olympics.  China underwent a host of economic reform initiatives in the 1970s and 1980s; by the 1990s the country experienced rapid economic growth (10.4% GDP) even with skyrocketing inflation that topped 20% in 1994.  Again, consistent trips to the Winter Olympics podium went hand-in-hand with an emerging economy.

written by: Steven Perlberg

 

Luke Buchanan delivers in-depth, local knowledge regarding NW Washington neighborhoods. Luke is proficient in relative-valuation and formerly worked as a strategist for an advertising firm in Santa Monica. If you wish to learn more about your home's worth, please call or email to schedule a free real estate consultation today. You may also visit Luke Buchanan's blog or Facebook, to find additional information that may further guide your real estate decisions. Hobbies include: golf, grilling, image editing, photography, running, skiing, tennis, travel and yoga

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