Risk Management Plan brings into perspective the significant role that security plays in the livelihoods of people across the globe. It particularly assesses the power of art as a form of investment for a country. The market has a unique design that gives prospective investors in the industry the urge and opportunity to learn more about risks and ways of enhancing investment into the rapidly growing industry. A comprehensive research concerning the expected benefits and probable challenges is critical to the realization of the fortunes of investors in the markets.
Knowledge about the global market for an investor in art industry is fundamental to every investor around the world irrespective of gender, race, language or nationality. A survey of the market shall not only take into account the vicissitudes of the international arts market but also examine market history, buying patterns and the projected trend in the future for many countries worldwide. Risk Management Plan provides more long-term returns as compared to many other investments. In addition, it has an attractive risk as well as return profile. Investors in this rapidly growing industry must consider all the advantages and disadvantages that come along with investment in art markets.
Economic impact or implications on the other hand adopts and implements a broader perspective in relation to the general economy of the host country. This relates to the examination of the possible economic objectives in relation to transformation of the GDP performance, reduction of unemployment rate, and attraction of relevant investment in the context of the host nations across the globe. The organization and execution of the event might be too expensive to generate economic rents thus deterioration of the situation through activities such as transformation of huge events to form ‘white elephants’ projects. These projects might jeopardize the economic growth and development of the host nations after the conclusion of the event through overcrowding the growth and development plan….