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 ...
Moses, is that you? :O
Crooked accounting is what the Olympics are all about!
How much is paid for the broadcasting and media rights?
How much for Juan Antonio Samaranch & family?
Does the IOC pay for anything?
I talked to a guy who was involved with the SLC games. He said they were passing out Browning shotguns like candy when they were trying to win the games.
#35 they would Italy it to Finland it up. Bad bad bad Dobby
http://33.media.tumblr.com/f12a27e7784afcd8f86451fd5f8b66fa/tumblr_n787buvPqb1skmak9o2_500.gif
DFW area has a lot of stadiums and hotels, they’d need to add very little to host a summer olympics.
Winter? Don’t look at me.
Although the best bet to make a profit at the winter Olympics will be South Korea in 2018, if they can’t do it nobody could. lol
Jamaica man! There into the Winter Olympics.
I was going to post the same idea regarding permanent venues. Put the winter games in Svalbard, Norway and the Summer games in Greece. Same place every time.
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