Study Regarding the Impact of Olympic Mascots in the Financial Success of the International Olympic Committee

Abstract

Even though the Olympic Games have benefited from exceptional athletic results, it has happened that the organizing cities remained in huge financial debts, some examples being Mexico City and Montreal, which carried the load of a budget deficit because of the Games for more than 30 years. This is why the marketing department of the I.O.C came up with the idea of introducing mascots among the Olympic symbols, the sales of which have helped the I.O.C and the organizers contribute to the I.O.C budget. This paper aims to emphasize the evolution of the mascots, both artistically and financially. The paper analyzes the income from mascot sales and the impact that they had and still have on supporting the Olympic movement, highlighting the necessity for a greater importance to be given to this aspect, for both the development of the Olympic Games and the financial success of other competitions.