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Stealth • 4m

Is Olympic Profitable ? 💸 Contrary to popular belief, hosting the Olympics often isn't the economic triumph! Let's break it down: 1. Massive Upfront Costs 💰 → Infrastructure, venues, security → Often billions over budget 2. White Elephant Syndrome 🐘 → Underutilized venues post-Games → Ongoing maintenance costs 3. Displacement of Local Businesses 🏬 → Short-term boom, long-term bust for many 4. Overstated Tourism Benefits 🧳 → Regular tourists often avoid Olympic cities → Surge doesn't compensate for costs 5. Opportunity Cost ⚖️ → Resources diverted from other public needs Real-world examples: • Montreal 1976: Took 30 years to pay off debt • Athens 2004: Contributed to Greek financial crisis • 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? 🤔 Happy Medial! - Follow for more

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Chamarti Sreekar

Stealth • 2m

already seen much on this topic , but yeah Olympics can be profitable in other ways other than just straight up money 💰

0 replies1 like

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