Skip to main content

The Olympics, costs and benefits

Though I love the Olympics, the institution faves a major problem. The massive costs of hosting a Games almost never balance out against benefits.

This article considers the financial impacts upon cities which host the Olympics.

A fitting postscript to my post yesterday.

After considering such details as infrastructure investment, marketing and meeting the expectations of the International Olympic Committee, most often the Games cost more than they earn. In some cases the loss is massive.

My first thought: the IOC must start considering the long-term impact. With that, they must seek to mitigate the effects of over-enthusiastic boosters. They struggle with a perception of boondoggle. Several cities' citizens shut down bids for games.

I feel it important to note that LA actually pulled s profit from the games. Utilizing their existing infrastructure, the cost control worked nicely. The article actually notes several hosts who successfully navigated development and execution. Key considerations for anyone desiring to host a Games.

I see an Olympics as several months of headache with little upside. Most of the promised benefits never materialize. I'm not alone. Seattle's few attempts to garner support to bid to host a Games failed miserably. And that's happened elsewhere, too.

Anyone wanting a Games near me must account for this study before I give my support. And I love the Olympics.

Comments

Post a Comment

Popular posts from this blog

iPad and other glories

Perhaps I’m the only Macfan that’s not gaga over the iPad. It’s an interesting idea, but I’m just not sold on the concept. For what it offers, I think it would be valuable (to me) at a much lower price-point. Say, < $100. Then I could conceive. Heck, if it were $200 I would be sorely, SORELY tempted. But not $500. It doesn’t offer me much more than my iPhone. And I almost never use my Sony eReader (if the Mac version of the desktop software actually worked with it, then I might use it more). Anyway, if the iPad had handwriting recognition, or could do more with photo editing...I don’t know.
4 comments
Read more

Millennium Falcon Coffee Table?

The folks over at Galatic Binder posted this awesome little table. Quite the piece of work, methinks. Were I a wealthier man, this would be on my "must have" list. It looks like it's made of bronze, so I'd hate to need to move the thing.
3 comments
Read more

Link of the Day

Eternal Earth-Bound Pets, USA You've committed your life to Jesus. You know you're saved. But when the Rapture comes what's to become of your loving pets who are left behind? Eternal Earth-Bound Pets takes that burden off your mind. We are a group of dedicated animal lovers, and atheists. Each Eternal Earth-Bound Pet representative is a confirmed atheist, and as such will still be here on Earth after you've received your reward. Perhaps somewhat sacrilegious (ok, ok...nuke the "somewhat"), but I found this hysterical. I wonder, though, if they've made any money.
3 comments
Read more