- Jan 3, 2006
- Reaction score
The Vancouver Olympics start in 2010.
With frequent overruns, few cities end up recouping any profits after the athletes have gone home. Even cities that cite surpluses, such as 1984 host Los Angeles and 1998 host Calgary, often don't include total expenditures in security and indirect costs in the final tally. And other cities find themselves far in the red. Montreal, host of the 1976 Summer Games, only finished paying off its Olympic debt in 2006. Officials in Nagano, Japan, spent so much on the 1998 Winter Games that they destroyed their financial records.
Not defending Beck AT ALL. He is a complete loon, but I did read an interesting article from PBS on how the Olympics are typically economic money-pitts for their host cities.
Still, there are some indirect benefits that are associated with being host to the Games. In a study Spiegel recently co-authored called "The Olympic Effect," evidence from past Games indicates that host countries receive a substantial and permanent boost in their international trade. On average, international trade for host countries increased 30 percent after the Games.