justinian said:
Kasz216 said:
homer said:
Wouldn't the olympics be good for London's economy? Or does the price of the olympics not offset the revenue? |
Actually i've seen economic studies that tend to show that's NOT the case.
There was a big push to NOT pursue the World Cup in the US because it was shown that the amount spent usually isn't made back, and then your left with a bunch of stadiums that are never full to capacity or ideal for the things that get put in them.
Well here's a tiny article on it... from the Atlantic... who granted aren't the best when it comes to economics, but i'll look for more sources later.
http://www.theatlantic.com/business/archive/2012/07/3-reasons-why-hosting-the-olympics-is-a-losers-game/260111/
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The world cup and the olympics are totally different but I can't be bothered to go into that.
Sydney had an estimated economic benefit of 2.78% of regional GDP. And Chinese officials claim to have profited in $146 million.
I would hope London follow the Sydney trend rather than some doom and gloom outlook.
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That article was about how the Olympics costs people money.
Syndey had an estimated economic benefit of 2.78%... before the games happened.
What does after the fact analysis say though?
http://theconversation.edu.au/hosting-the-olympics-cash-cow-or-money-pit-7403
"Our results revealed that rather than producing an economic benefit the Sydney Games actually reduced Australian household consumption by $2.1 billion."
Keep in mind as well the Sydney Olympics ran 6.6 Billion dollars.
