Posted on 10/16/2014 2:51:47 PM PDT by SeekAndFind
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 last 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.
Oslo pulled out of the 2022 Olympic bidding process in early October.
Olympic organizers consistently cite such studies as a justification for the astronomical costs of building and staging the games.
Matheson argues these studies are inaccurate, and he presents a hypothetical example about hotels that demonstrates why.
(Excerpt) Read more at businessinsider.com ...
Thanks to 0bama ruining the greatest economy on the planet, looks like nations all across the globe are tightening their belts and getting a clue.
I am getting old, in the 50s it was far less political and safe.
They should group certain events and have them in multiple cities instead of having a single host nation building massive infrastructure for one big event. Such a huge waste of resources...
????
you are getting old- in the 50s the Olympics were less political??? i could name numerous examples of blatant politics in the games but for starters take a look at the Soviet-Hungry water polo match in 1956...
Plus I can not remember the last time I watched.
the USOC is evidently expected to make a push for the 2024 Summer and/or 2026 Winter games...
This link may give you some visual reason why games don’t pan out.
The Soviets were hungry?
What about all the venues that have been built in the past? Why don’t they go back to those venues and not have anyone else build any more?
There are so many venues to build the cost is ridiculous. Not to mention the all the bribes.
I guess my choice of political was a bit off as my memory is clouded I was too busy borrowing cars.
Too many events = too many facilities to build, that won’t be used after the games are over.
I am surprised there is no US city trying to get the games, but I believe that the IOC does not want to put the games in the US due to a combination of factors.
No level of US government dares give the impression they will build the Olympic stadium out of bricks of $100 bills.
The bid is generally comes from event promoters at least one step away from any city government.
US anti-corruption laws reduce the bribes that will be offered.
As a general rule it will be quite clear from the beginning that events will be scattered around a large area, not all inside even one metro area. This increases travel from the Olympic village, and is because there will be a few facilities built for the event as possible.
actually the Olympics were most fun in the 50’s/60’s/70’s/80’s when it was really political and west versus commies...
RE: I am surprised there is no US city trying to get the games, but I believe that the IOC does not want to put the games in the US due to a combination of factors.
We had the games in Utah, why not re-use the site again?
Build permanent summer and winter venues. Use them for training and sanctioned events every year. Split the take between the countries, based on the number of athletes they send. Sit back and laugh while you watch them argue over the crooked accounting.
Many of the points made in this article could apply to taxpayer funded sports facilities.
There are a number of former Winter Olympic venues world wide. How about treat the IOC like any other sports enterprise and let them LEASE a venue for the games.
They want everything given to them, and they expect bribes and royal treatment at the Games.
If they wanted to save even more money they could pick one city that would work for both the summer and winter olympic games. Maybe McMurdo, Antarctica.
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