There were only two major events that occurred once every four years before the birth of Christ that are still occurring today.

One of them is February 29th, the leap day that falls in a leap year, and of course the Olympic Games. The leap day is of course inevitable, since the earth will always continue to revolve around the sun. However, Olympism has stood the test of time and is still relevant as one of the most significant and popular events worldwide.

The event was introduced in Greece in 776 BC and was dedicated to the Greek god Zeus. It was both a religious and a sporting event. In 2024, it is still an event that the world eagerly awaits every four years.

Yes, times have changed. We no longer have naked competitors, chariot races or fights to the death, but the celebration of sportsmanship and the glory of an Olympic medal has not diminished even a little.

So, what makes the Olympics so socio-economically and culturally relevant and popular? Especially in an era where popular sports, such as football, tennis and cricket, are increasingly being privatized and heavily promoted in different parts of the world, thereby monopolizing global television viewing.

The official goal of the Olympic Games is to “contribute to building a peaceful and better world by educating youth through sports practiced without discrimination of any kind.” Inspiring words, but they do much more than that.

The Olympics have the power to technically revive even the economy of a failing country. The Games generate robust economic benefits among other benefits for each country and city. It can help encourage the entire region to develop.

It boosts their tourism industry, their global reputation and even their diplomatic relations.

Unlike the United Nations and other international organizations, the Olympic Movement does not seek to promote peaceful cooperation through political or legal means, but through the Games. The symbolism of the Olympic athlete as a role model and the spirit of sportsmanship and peaceful athletic competition are supposed to be seen as a symbol of non-conflict cooperation and harmony among people and between nations.

In 2000, the International Olympic Committee established the International Olympic Truce Foundation to promote dialogue, reduce global political tensions and provide opportunities for nonviolent conflict resolution.

These are not just empty words. There have been several important moments in the history of the Olympic Games that have been instrumental in promoting international peace.

At the 1992 Olympic Games in Barcelona, ​​South Africa entered a team of both white and coloured athletes, while Nelson Mandela’s presence was a gesture of reconciliation after years of struggle for human rights and racism in their own countries. In 2000, North and South Korea marched together into the stadium in Sydney under one flag, representing the Korean peninsula.

In Athens in 2004, Afghanistan and Iraq, two countries embroiled in a bloody war, took part in the Olympic Games, showing the world how strong the unifying spirit of sport is.

During the 2008 Olympic Games in Beijing, China, two athletes participating in a shooting competition, Nino Salukvadze of Georgia and Natalia Paderina of Russia, embraced during the medal ceremony, amid an ongoing military conflict between their two countries.

In Rio 2016, the Internal Olympic Committee formed the “Team Refugee Olympic Athletes”. They were a team of refugee athletes, who came together to participate as a team in the Olympic Games. They were treated like all other teams from the 206 National Olympic Committees and marched behind the Olympic flag during the opening ceremony.

These are no small achievements considering the violent, combative and xenophobic world we live in today.

While circumstances continue to change, there is no doubt that the Olympics provide a net benefit to humanity. For those who actively follow and watch sports, it is still the only stage where the entire world competes on a multi-sport basis. It provides support and visibility to niche sports that are rarely publicized on a global level, but are culturally important to certain regions. For example, sports such as skiing, speed skating, bobsleigh, etc.

The Olympic Games encourage governments to invest in lesser-known sports and para-athletes, which would otherwise not receive support and attention.

The Olympics are a self-sustaining cycle that generates enormous rewards in various forms.

Athletes attract fans, fans attract media, media brings in sponsors and sponsors of course fund the athletes. The hosts enjoy and share the whole spectacle and all the benefits and qualities that come with it. This provides an unparalleled experience for every stakeholder. The Olympic Games offer a spectacular variety of entertainment and foster a collective awareness of emotion around the world. Of joy, excitement and disappointment as the athletes’ fortunes rise and fall.

Revenue generated by the last four-year cycle of the Olympic Games, which ended with Tokyo in 2021, amounted to $7.6 billion. And 90 percent of this was returned to the organizations that support the Olympic movement worldwide, while the remaining 10 percent was used to cover operational costs.

Sponsors, host nations and the media invest in being associated with the qualities that surround the Olympic halo. Fans want to support their country’s athletes and live out their patriotism. Athletes want to become the latest torchbearers in a tradition that has existed for over 3,000 years and represents ultimate glory.

The Olympic Games remain a valuable experience that goes beyond just playing and makes us realize in a strange way what unity really means, through competition.

The author is a freelance journalist and feature writer based in Delhi. Her main areas of interest are politics, social issues, climate change and lifestyle related topics. The views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect the views of Firstpost.