{"id":45350,"date":"2015-12-03T23:43:06","date_gmt":"2015-12-03T21:43:06","guid":{"rendered":"http:\/\/www.arabtelegraph.com\/?p=45350"},"modified":"2015-12-03T23:43:06","modified_gmt":"2015-12-03T21:43:06","slug":"why-no-one-wants-to-host-the-olympics","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=45350","title":{"rendered":"Why No One Wants To Host The Olympics"},"content":{"rendered":"

Are the Olympic Games a worthwhile investment of taxpayer money? As costs associated with the international sporting event offset its perceived benefits, a growing number of prospective host cities around the world are answering that question with a resounding \u201cno.\u201d<\/strong><\/p>\n

Hamburg, Germany was one of five finalists competing for the right to host the 2024 Summer Olympics until earlier this week, when local residents voted against the multibillion-dollar initiative in a citywide referendum. Hamburg\u2019s reversal of course came months after Boston, Massachusetts withdrew its $5 billion proposal due to concerns that taxpayers would have to pay for any budget overruns.<\/p>\n

\nADVERTISEMENT
\nThe International Olympic Committee will decide by 2017 whether to select Los Angeles, Rome, Paris or Budapest to host the 2024 Games. But Hamburg and Boston\u2019s withdrawals from the race show that more and more cities are unwilling to commit billions of dollars toward Olympic venues and infrastructure that often fall out of use shortly after the Games end \u2013 especially amid more pressing concerns such as Europe\u2019s ongoing refugee crisis.<\/p>\n

\u201cThe problem has been the perceived extravagance of the Olympic games and the more or less unlimited expenditure that cities and countries are expected to make, and the limited use that these facilities have after the event,\u201d said Stefan Szymanski, co-director of the University of Michigan\u2019s Center for Sport Management and expert on Olympics economics. \u201cThere\u2019s been a lot of evidence of \u201cwhite elephants\u201d and derelict Olympic facilities.\u201d<\/p>\n

Massive Costs<\/p>\n

Traditional arguments in favor of hosting the Olympics, such as the Games\u2019 benefit on local economies and a city\u2019s worldwide prestige, have eroded as recent bids experience budget overruns. The 2014 Winter Olympics in Sochi, Russia cost an estimated $50 billion \u2013 a figure unprecedented in Olympic history \u2013 and unfolded amid allegations of abuse toward workers and civil rights activists.<\/p>\n

The 2008 Summer Olympics in Beijing, China generated a massive $40 billion budget. Olympic venues constructed specifically for the 2004 Summer Olympics in Athens, Greece quickly fell out of use, while the estimated $10 billion expenditure hastened the collapse of Greece\u2019s economy. Even bids that were deemed moderately successful, such as London\u2019s 2012 Summer Games and Vancouver\u2019s 2010 Winter Olympics, had mixed financial reviews.<\/p>\n

Growing Concern<\/p>\n

Hamburg and Boston aren\u2019t alone in their apprehension. Four of the six cities chosen as finalists for the 2022 Winter Olympics ultimately dropped their bids due to economic or political concerns. Eventually, that year\u2019s games were awarded, once again, to Beijing.<\/p>\n

IOC officials expressed disappointment in Hamburg\u2019s decision, stating that the city missed out on a \u201cgreat opportunity,\u201d including a $1.7 billion investment from the IOC itself.<\/p>\n

\u201cNow there will be a strong competition with four excellent candidate cities…. With these strong competitors we all can look forward to (an) exciting Olympic Games 2024, whoever the winner will be,\u201d the IOC said in a statement obtained by Reuters.<\/p>\n

L.A. 2024<\/p>\n

Los Angeles has hosted the Olympic Games twice, in 1932 and in 1984. Officials tied to the city\u2019s 2024 plan are confident their bid, if selected, will remain on budget and benefit the local economy. The project\u2019s $4 billion plan would make use of existing infrastructure, such as the Staples Center and the L.A. Memorial Coliseum and contain contingencies to protect taxpayers from footing the bill for overruns.<\/p>\n

Unlike Hamburg, Los Angeles\u2019 bid isn\u2019t subject to a citywide referendum. But recent polling shows 81% of city residents support the project, according to Jeff Millman, spokesman for the \u201cLA 2024\u201d initiative.<\/p>\n

\u201cWith 85% of the world-class venues in our Games Plan built or planned as permanent facilities, and with Los Angeles already making significant infrastructure investments in mass transit and at LAX, we are not changing the face of our city to fit the Olympic Games; instead, we are adapting an innovative Olympic Games concept to fit our city,\u201d Millman said in a statement. \u201cWith our existing venues, new infrastructure and our control of the budget, our bid will ensure taxpayers are protected. Both the 1932 and 1984 LA Games were profitable, proving LA’s ability to host an outstanding, financially responsible Games, and that is our commitment for 2024.\u201d<\/p>\n

The IOC has taken steps to reassure prospective hosts. One initiative, dubbed \u201cOlympic Agenda 2020,\u201d enacted reforms designed to reduce host costs and increase financial aid.<\/p>\n

But continued candidate withdrawals suggest the efforts don\u2019t go far enough.<\/p>\n

\u201cWhat they have to be able to do is to establish a mechanism by which any medium-sized city on the planet can realistically hope to host the Olympic games and bid for this,\u201d said Szymanski. \u201cThey\u2019ve got to stop thinking of this as a major government-underwritten, multibillion-dollar boondoggle for the world\u2019s sporting elite.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Are the Olympic Games a worthwhile investment of taxpayer money? As costs associated with the international sporting event offset its perceived benefits, a growing number of prospective host cities around the world are answering that question with a resounding \u201cno.\u201d Hamburg, Germany was one of five finalists competing for the right to host the 2024 …<\/p>\n","protected":false},"author":3,"featured_media":45362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-45350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-te-public"],"yoast_head":"\nWhy No One Wants To Host The Olympics - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=45350\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why No One Wants To Host The Olympics - Arab Telegraph\" \/>\n<meta property=\"og:description\" content=\"Are the Olympic Games a worthwhile investment of taxpayer money? 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