Obviously hosting the Olympics puts a lot of money in some people's pockets, but how about the city as a whole? I read somewhere that Montreal spent the rest of the century clearing the debt it had incurred for 1976. If so, how can London avoid this situation? Is London going to avoid it?
2007-07-16 18:33:38 · 13 answers · asked by Anonymous in Sports ➔ Olympics
The host countries generally do not fare well if they were considering that hosting the Olympics might raise money. What is important to remember, however, is that despite the game having a net cost, the city is still left with many athletic facilities that will last decades for the benefit of the population. Prior to the Calgary Olympics in Canada, for instance, Canada had not done as well in events like the luge and speed skating, since creating those facilities Canada has had many impressive results in subsequent Olympics. So it is not just about the costs, but about the residual effects for your country. Anyways, being a Canadian... VANCOUVER 2010! And personally I can't wait for Vancouver to be left with a whole array of facilities from their own world class luge and ski jumps, redoing the Sea to Sky Highway to Whistler, installing better mass transit between Vancouver and Whistler, Olympic class hockey rinks and our own Olympic class skating facilities. I think that in the end, you might pay, but when you consider what you get back in return it is like buying all those facilities at a nice discount!
2007-07-24 17:40:35 · answer #1 · answered by April M 2 · 0⤊ 0⤋
The olympics themselves bring in a lot of tourists so while the CITY will lose money the businesses in the area will make a bunch. Think about that hot dog salesman on the street. He will probably make more in that month than in the year before. So it is not all big business making money.
Plus it brings the city prestige and companies might look at opening offices or headquarters in the city that would generate jobs and taxes. This is long term type investment.
Think about it this way, do you know the last 2 U.S. Cities to host the Olympics? If you do then it must have had some good impact on the city.
2007-07-18 16:36:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Just look up the overall costs of the Olympics compared to money received from the Olympics for the the past 20 events and it will show that it does not make money for the host city. Sure some people make money but they are few and are often the generic men in business suites. The only way a nation will benefit from Olympic money is if that country only uses labour (builders etc) that are of the host countries nationality and reside in the country. Since this is about business, that ain't gonna happen as its cheaper to get foreign labour, hence any benefits travel outside the country.
2007-07-17 03:06:46 · answer #3 · answered by pete m 4 · 0⤊ 0⤋
How does Hosting the Olympic Games Impact Employment in the. Host City? Lee Tucker. Comprehensive Exercise. February 24, 2006 ...
2007-07-24 07:47:21 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Hell yeah hosting the olympics pays!!!! especially all the tourist money the city gets. London will not have 1 problem especially because its one of the best cities in the world, England is very rich anyway.
2007-07-17 01:36:45 · answer #5 · answered by iguodala9 2 · 1⤊ 0⤋
Hosting the Olympics does not make money for the host city. It loses lots of money. Atlanta was criticized by the IOC for trying to make money, and they still lost money. Some people will make money off of the games, but the tax payers are footing the bills.
2007-07-17 02:09:38 · answer #6 · answered by lestermount 7 · 0⤊ 0⤋
Yes SOME people might make on Olympics but in general we will have to pay,heard the figure £4,000 a head,not sure if that's just Londoners or through out country..
2007-07-17 01:41:34 · answer #7 · answered by yaboo 4 · 0⤊ 0⤋
No, London is going about it in the wrong and potentially disastrous way. The words "TheLondonOlympicGames" anagrammatically become "MenPlanShitComedyLogo", for a start (vide Private Eye correspondent, TonyBlades - StayBlonde - in current issue, thanks Tony). Why we should be represented by Lisa Simpson and friend I dunno. (The ever-increasing billions of our quids of costs is obscene and sucks - perhaps that's it). Now everyone on the Olympics gravy train is claiming non-responsibility, nobody is responsible, but billions of our quids-dosh is being spent. Not only Londoners - everyone in UK is paying up. What sort of mad world is this!
2007-07-20 15:27:30 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yes thanks to an entrepreneurial skills of Peter Uberoth the 1984 Los Angeles Summer Olympics were a success the debt was paid off and they made a profit. Thanks to him every Summer and Winter Olympics host country doesn't have to go into massive debt to realise there dream.
2007-07-17 18:05:39 · answer #9 · answered by Bru 6 · 0⤊ 0⤋
I want a job with the I.O.C
...travel round the world staying in top hotels for free while others try to out-do each-other giving me free gifts.
Set the olympics in Athens and leave it there.
2007-07-21 18:44:00 · answer #10 · answered by Spartan L 5 · 0⤊ 0⤋