Author(s): Dr. Rajinder Singh Sekhon

Abstract:
The emerging markets now claim half of all Olympic medals. They are now claimants of around 50 percent of gold, silver, and bronze medals, which is quite surprising. When emerging markets began participating back in the 1920s and 1930s, the share of medals they won was quite small in the majority of sports, but a few decades later, especially following WWII, this began to change. Nowadays, maybe as a reflection of the improved health, education, and social attitudes toward sports, emerging markets are now leaders in many sports, including boxing, diving, weightlifting, and others. The London games mark the 30th Olympics since their modern inception in 1896. Competition to host the games has become fierce in recent years, and economists have begun to study the economy of Olympics. What the games say about the economic achievement. The countries with strong emerging economies are now leading the medal count, and stresses the strong correlation between economic growth and athletic achievement. The per capita income levels are strongly associated with medal attainment. The increasing GDP per capita by one standard deviation tends to be associated with two to five medals more per Olympics. A very strong host effect, by which the number of medals can increase by more than 50 percent for host countries. Overall, higher levels of income or higher levels of development and a better environment for growth tend to be associated with more Olympic success. The aim of the study of “A study of relationship of Olympic medal ranking with GDP and per capita income” was to find out the relationship of development of economy and Olympic medals. To find the results GDP and Per Capita income of the countries was considered as development factors of economy and medal tally ranked was taken to find out the relationship. An analysis of medal tally of Olympic 2012 was analysed and in rank order correlation of GDP and medal tally found that the correlation coefficient is 0.683., which show a moderate positive relationship between the two variables. Which means with the increase in GDP there is increase in medal in Olympics and in rank order correlation of Per Capita income and medal tally found that the correlation coefficient is 0.283., which show a low positive relationship between the two variables. Which may be the cause of methods of Rank order correlation. So it can be tested through other method. Because Jose Ursua study shows a strong relationship between per capita income and medals in Olympics. So to win more medals in Olympics be a rich country with good infrastructure. Have lots of young peoples. Focus on your advantage, use the events that are individual in nature and for which a lot of medals are handed out per events.

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