154
submitted 4 months ago by jeffw@lemmy.world to c/world@lemmy.world
you are viewing a single comment's thread
view the rest of the comments
[-] Frozengyro@lemmy.world 21 points 4 months ago

I mean Paris is a massive city with major sports teams and regular events outside the Olympics.

[-] FlyingSquid@lemmy.world 8 points 4 months ago

And yet cities end up losing money when hosting the Olympics most of the time.

In general, the revenue brought in from the games does not equate to the money put out by the host city. London generated $5.2 billion in revenue against its $14.6 billion spent, said Investopedia. In 2010, Vancouver spent $7.6 billion on the Olympics but brought in only $2.8 billion. In 2008, Beijing's $42 billion investment generated revenue of just $3.6 billion. In fact, every Olympics since 1960 has been over budget, and an analysis from the University of Oxford found the games overrun their costs by an average of 172%. Los Angeles in 1984 remains the "only host city that realized a profit from the games," Investopedia said, but this is largely "because the infrastructure required of them already existed."

https://theweek.com/sports/olympics-cost-hosting

They get conned into bidding for it every two years anyway though.

[-] Zorsith@lemmy.blahaj.zone 4 points 4 months ago

And how many of the facilities built for the Olympics in the past 3 decades are still viable structures today?

[-] stormdelay@sh.itjust.works 6 points 4 months ago

Good thing there was almost nothing built specifically for these Olympics. Plenty of concerns and problems, but at least that one isn't on the list.

[-] UrPartnerInCrime@sh.itjust.works 3 points 4 months ago

France was literally trying to swim in the river so they would have to build anything and people were complaining. There's no winning, is there?

this post was submitted on 06 Jul 2024
154 points (95.3% liked)

World News

39033 readers
784 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS