Olympic Charter Games are competitions between athletes in individual or team events and not between countries. Article 8: The Olympic symbol consists of five interlocking rings which, from left to right are blue, yellow, black, green and red. This chapter outlines the membership, meetings, and guiding doctrines of the International Olympic Committee (IOC). Chapter 3 discusses the role of International Federations (IFs) in the Olympic movement. IFs are international non-governmental organisations that administer to sports at the world level and encompass organisations administering such sports at the national level. For each sport that is part of the Olympic Games, an International Federation
Olympic Games Games, at 324%. London 2012 had a cost overrun of 76%, Sochi 2014 of 289%. Many economists are sceptical about the economic benefits of hosting the Olympic Games, emphasising that such "mega-events" often have large costs while yielding relatively few tangible benefits in the long run. Conversely hosting (or even bidding for) the Olympics appears to increase the host country's exports, as the host or candidate country sends a signal about trade openness when bidding to host the Games. Moreover, research suggests that hosting the Summer Olympics has a strong positive effect on the philanthropic contributions of corporations headquartered in