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AprameyaAIย โ€ขย 1y

Is Olympic Profitable ? ๐Ÿ’ธ Contrary to popular belief, hosting the Olympics often isn't the economic triumph! Let's break it down: 1. Massive Upfront Costs ๐Ÿ’ฐ โ†’ Infrastructure, venues, security โ†’ Often billions over budget 2. White Elephant Syndrome ๐Ÿ˜ โ†’ Underutilized venues post-Games โ†’ Ongoing maintenance costs 3. Displacement of Local Businesses ๐Ÿฌ โ†’ Short-term boom, long-term bust for many 4. Overstated Tourism Benefits ๐Ÿงณ โ†’ Regular tourists often avoid Olympic cities โ†’ Surge doesn't compensate for costs 5. Opportunity Cost โš–๏ธ โ†’ Resources diverted from other public needs Real-world examples: โ€ข Montreal 1976: Took 30 years to pay off debt โ€ข Athens 2004: Contributed to Greek financial crisis โ€ข Rio 2016: Venues abandoned, $2 billion in unpaid debts "The Olympic Games are highly profitable - for the IOC." - Sports economist Andrew Zimbalist Is it time to rethink the Olympic hosting model? ๐Ÿค” Happy Medial! - Follow for more

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