Last Word: Bidding for sports’ biggest spectacle
1 year, 1 month ago

Last Word: Bidding for sports’ biggest spectacle

The Hindu  

India’s plan to host the 2036 Olympics speaks of a rare confidence and a certain recklessness. Boston, for instance, pulled out of the bid for 2024 because, in the words of its mayor, they “refuse to mortgage the future of the city away.” Budapest, Hamburg, and Rome, who were in the running for 2024, withdrew too, leaving only Paris and Los Angeles in the fray; the next two Games were awarded to these cities. In 2012, a study in Oxford found that there had been a 252 per cent cost overrun since 1976, the year Montreal was host. Beijing’s Olympic stadium, the Bird’s Nest, cost $460 million to build, needs $11 million annually to maintain, and is now just a museum piece.

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History of this topic

The Olympics and its financial distress: Watch Video
4 months, 1 week ago

The Olympics and its financial distress: Watch Video

The Hindu  

Watch: The Olympics and its financial distress An independent study expected Paris to generate between 6.7 and 11.1 billion Euros in net economic benefits for hosting the Olympics. The 15 day-long event was expected to witness anything between 2.3 and 3.1 million unique visitors with game tickets. While it all looks amazing at the top, a brief look at the …

Do Olympics really benefit the host cities?
4 months, 3 weeks ago

Do Olympics really benefit the host cities?

China Daily  

Athletes of China, Chile, Central African Republic, Canada and Cameroon are seen on their boat at Pont Iena in the river Seine during the opening ceremony. Does hosting a major international event such as the Olympic Games benefit the host city, and does such an event hinder the economic growth of the host city or the host country? The second …

Why no one wants to host Olympic Games anymore
5 months ago

Why no one wants to host Olympic Games anymore

The Telegraph  

As he follows the Paris 2024 Olympics from afar, Eric Sheehan is trying to prevent the Olympic flame from coming to his home city in four years’ time. Sheehan is a leading member of NOlympics LA, a group striving to get Los Angeles to pull out of hosting the 2028 Olympic and Paralympic Games. To Sheehan, Paris’s experience illustrates why …

Why Host The Olympics When History Shows It's Likely A Money Pit? : The Indicator from Planet Money : NPR
3 years, 4 months ago

Why Host The Olympics When History Shows It's Likely A Money Pit? : The Indicator from Planet Money : NPR

NPR  

Why Host The Olympics? Enlarge this image Lintao Zhang/Getty Images Lintao Zhang/Getty Images The Tokyo Olympics have met numerous challenges, from postponing the event in 2020 to near-empty stadiums in 2021 due to the pandemic. The current Olympics have already cost Japan over 15 billion dollars, much more than the original seven billion dollar proposal. For example, in 1968 he …

Olympics in India: Does It Really Make Economic Sense?
3 years, 6 months ago

Olympics in India: Does It Really Make Economic Sense?

The Quint  

With LA once again scheduled to host the 2028 edition, the organisers have been talking about once again making it an example of financial prudence. The organisers of LA 2028 have said that they would not need to build stadiums or arenas as they would be using infrastructure that is already in place and the rest would be done through …

Olympics cost overruns should make bid cities 'walk away' from the Games, say researchers
4 years, 3 months ago

Olympics cost overruns should make bid cities 'walk away' from the Games, say researchers

ABC  

"The best Games ever" are being remembered in Sydney and around Australia 20 years after Cathy Freeman lit the cauldron to signal the start of the first Olympics of the new millennium. Key points: According to Oxford University researchers, the 2000 Olympics in Sydney cost $6.91 billion, a cost overrun of 90 per cent But the paper found the average …

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