How to help Olympic host cities recoup expenses

In Uncategorized on 22/08/2016 at 1:58 pm


From NYT Dealbook

The Olympics, Where Winning Gold Can Mean Losing Billions Why does anyone want the Olympics in their home city? The last time the Games were profitable was in Los Angeles in 1984 — that is more than 30 years ago. But for whatever reason, government officials, businessmen and bankers are in a bidding war for the 2024 Summer Games that could rival anything seen on Wall Street. Some are competing on costs, but potential losses are a major concern — is it all a poisoned chalice?

There are plenty of unconventional solutions being floated. Whether it is permanently keeping the Olympics in its birthplace, Greece, or holding the Games at different places simultaneously, some people are thinking outside the box. But what about giving a city the chance to host it twice, 12 years apart? That would allow it to reap the economic benefits twice, and force cities to create a more long term infrastructure plan, Andrew Ross Sorkin argues.

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