Outside the Box: Olympic denial: The benefits to hosting the Games are just hype

Olympic events, like any contests, have uncertain outcomes. One aspect of the Olympic Games, however, appears to be certain; the Games have become a money pit. Costs routinely exceed expectations and revenues aren’t sufficient to cover the expenses.

Yet nations, to a substantial extent, still appear to be in denial. They have been seduced by the promise of an economic windfall and/or an elevated global status, buttressed by questionable economic impact studies that argue that they, unlike past host cities, possess the “right stuff” to ensure that their economic performance will be “gold-medal worthy.”

But these long-term economic benefits are just another broken promise.

>>> Original Source <<<