By Jin Xiaoye, CIPE Global Intern
With the Winter Olympics now underway in Sochi, Russia, it is not only the events themselves that are attracting attention: the high cost of the Games and reports of poorly-constructed facilities have garnered headlines alongside the star athletes and their performances. As in other recent cases of major international events held in emerging market countries, the Games are being seen as both a test of the host country’s ability to pull of such an event, and of whether the promised economic impact will materialize.
The Summer and Winter Olympic Games, as well as the Paralympics, are held every four years in a designated host country. These are competitive events for elite world athletes and great cultural exchanges for participating countries. But sporting concerns have increasingly taken a backseat to discussions of the financial and economic impact of the games.
More and more emerging-market countries have been given the opportunity to host major international events in recent years. The 2010 World Cup, hosted by South Africa, proved to be a huge success in many respects – creating a boom in tourism and raising confidence in the country’s economy. But like other recent events, such as the 2008 Summer Olympics in China and the upcoming World Cup in Rio de Janeiro, Brazil, it also generated controversy around the cost and long-term economic impact.
The business community has embraced cooperation with the organizers of the Olympics, a trend which has especially benefitted multinationals and other large businesses. However, corruption and other negative consequences like embezzlement and human rights violations have come to one of the biggest global sports festival too.
At the beginning of the film Under the Same Sun, Nizar, a Palestinian businessman, looks at the smashed windshield on his car and reads a note that says, “We hope this makes things clear for you.” A newspaper has just exposed his business relations with an Israeli, and he faces public outrage over his perceived betrayal of the boycott of Israeli goods.
His brother tells him that you cannot trust Israelis—after all, his other brother was shot by an Israeli soldier during the first Intifada. His landlord cannot let him continue to lease office space for fear of vandalism. The news also causes familial rifts for Shaul, the Israeli businessman—his sister and brother-in-law who live in a West Bank settlement refuse to speak to him. His Israeli business partner will not work with Palestinians; he didn’t trust them even before “the incident” that killed his son.
The story is fictional. Search for Common Ground brought together Israeli and Palestinian directors, producers, and actors to create a mockumentary about an Israeli and a Palestinian who start a joint venture company to bring solar energy to Palestinian villages in the West Bank. Shaul is motivated by profit and sees Palestine as a viable market to enter. Nizar wants to help his community achieve energy independence, so it will no longer have to rely on purchasing Israeli generators.
How can you effectively integrate women into value chains? With this question in mind, two representatives from the Mennonite Economic Development Associates (MEDA), an international development association based in Canada, shared their experiences with women’s economic development projects.
The benefits of empowering and integrating women into the economy are widely known. But what exactly must be done to incorporate women into value chains, especially in parts of the world where women face cultural barriers to participating in their economies?
A public-private dialogue session with Senegalese business leaders and President Macky Sall. Watch here (in Wolof)
Caught between the West African Sahel and tropical regions, Senegal is one of the more stable democracies among Francophone countries in Africa. Its record on democratic governance extends back to its independence from under French colonial rule. However, in the economic sphere, it has remained second-best to Cote d’Ivoire – which, with Nigeria, is one of the region’s top two economic powerhouses – and hence assumed a lower international profile.
Nevertheless, with an overwhelmingly young population, food security and unemployment challenges, and its geographic and cultural proximity to neighboring countries that host various radical Islamist groups, Senegal is in need of a vibrant private sector that can contribute to inclusive economic development. Such an outcome is important to Senegal’s democratic stability, as it addresses issues of food security, the religious radicalization of masses of unemployed youth, and the rise to prominence of illicit trades in arms and humans across West Africa.