Posted on 10/19/2014 6:52:38 PM PDT by Dallas59
The bidding process for the 2022 Olympics was a disaster for the International Olympic Committee.
Democratic nations are no longer buying the argument that hosting the games is a wise investment. Every potential 2022 host city with a democratic government eventually pulled out of the bidding, many over economic concerns, leaving Beijing and Almaty, Kazakhstan, as the IOC's only two options.
Academics have been saying for years that hosting the Olympics doesn't make economic sense. The costs are typically larger than expected, the infrastructure needed for a big sporting event isn't the same as the infrastructure needed for daily life, and the economic benefits are typically overstated.
The latter point was addressed by Holy Cross professor Victor Matheson in a 2004 paper called "Economic Multipliers and Mega-Event Analysis."
The paper examines a major problem with pre-event economic-impact studies, which Matheson says have a tendency to overestimate how much a one-time attraction like the Olympics will contribute to the local economy.
(Excerpt) Read more at ca.finance.yahoo.com ...
Used to enjoy the Olympics a great deal years ago.
Looks the same, different feed. Still a waste of money IMO.
Liberia
Mecca...;-)
Obola and Michelle wanted to host them in Chicago. IOC said, “Nope, Dope.” We should be grateful to the IOC.
DUH!...
kinda like weddings...U spent how much on your daughters wedding but they cant afford a house??....
see it every day...
I haven't read the paper, but its reasoning no doubt applies to large government make-work and stimulus projects as well.
As you spool down and down, it simply gets sadder and sadder:
http://www.dailymail.co.uk/news/article-2589194/How-Sochi-ghost-town-just-weeks-Olympics.html
Yeah, that should be a treat and a challenge.
Next up in the Olympics, Womens gymnastics. In Full Burka.
Or it will be replaced with the Interpretive Dancing Boys..
Obama wanted the Summer Olympics to be in his home town, Chicago. He should push to have the Winter Olympics in his former home town, Jakarta.
Seems like countries are getting wise that the cost/benefit just doesn’t add up.
I wouldn’t want to deal with the threat of terrorism.
Muslims ruin pretty much everything.
Let Russia have it again. Slows down invasion of next country.
Aside from the obvious economic failure, the Olympics have been ruined for me by hype, inane TV coverage, new “extreme” sports, and Bob Costas.
Toronto will be hosting the Junior Varsity Olympics known as the Pan Am Games next year. It is costing a few billion. I don’t think I have ever watched or been interested in a Pan Am Games in my life. Not about to start now.
Perhaps it is time to permanently relocate the Olympics to Greece as was originally planned over 100 years ago.
Winter Olympics, Switzerland or Norway. Permanently.
how about split venue...
Calgary and Salt Lake?
everything is already built
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