mgpcpastor's blog

The Terrible Investment Of Hosting The Olympics (via FiveThirtyEight)

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A short article on a study about how cities/nations invariably massively underestimate the cost of hosting the games when they bid, why the budget blows out, how the infrastructure built to host the games provides a much lower value to the ongoing life of the community relative to other capital developments, and that some sort of debt or another seems to be the legacy.
There are other games that were not included in the study, but that was because “for more than a third of the games between 1960 and 2016 (eleven) no one seems to know what the cost overrun was.”
It seems no one actually learns from the experiences of other cities/nations to improve the situation.
Read the whole post here.

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