Skip to comments.Experts: Olympics havenít delivered significant financial rewards
Posted on 08/14/2012 3:37:03 AM PDT by Berlin_Freeper
LONDON: Britain's recession-hit economy was unlikely to have won a major boost from the London Olympics that have been a triumph for the nation's athletes, analysts say.
While Britain's construction sector benefited hugely before the Olympics, experts have said the 17-day sporting spectacle had not delivered significant financial rewards and neither was it expected to in the months and years ahead.
Mary Rance, chief executive of tourism body UKinbound, said the Olympics, which have cost British taxpayers £9.3bil (US$14.5bil) to stage, had failed to lift her sector.
(Excerpt) Read more at biz.thestar.com.my ...
Man, England wanted the Olympics bad enough to tax its people billions of pounds for the privilege. I mean yes there is a prestige factor with things like the marathon going by Big Ben, but is it worth that much? Why are countries paying to this tune to host it? Why aren’t the nations of all participants chipping in no matter where it’s located?
Well how about that? When the West collectively decides to slight Gods chosen people things don’t turn out as rosy as you expect them to be.
The final 3 for the Summer 2020 games; Madrid, Tokyo, and Istanbul.
I am surprised Seattle was not involved.
I hope not Madrid. Otherwise Germany will have to pay for it.
I was thinking Sacramento.
Mostly the olympics has been a blight upon all the places that have run it.
I’d like to see the IOC dangling from their five rings.
Let’s see, there’s a global financial collapse, the european union is on the rocks, and they put on a show celebrating their godless socialist state, with lots of condoms so the athletes can fornicate like rabbits. How’d that work out? The amusing part is that it took “experts” to determine it was a bust, with the taxpayers picking up the tab as usual. If england was a fast food joint, it would be called “home of the moron”.
Istanbul? It’s a lock then. First Muslim Olympics. Beach volleyball will make their heads explode.
The benefits of the Olympics are more than merely economic. They have been a great morale booster in my opinion, and have lifted the spirits of the nation.
Before the games, there was an almost universal, pervading cynicism in this country that it would just be one big expensive screw-up, that Team GB would not do well, and that we would all embarrass ourselves in front of the world with a poorly-organised shambles.
It hasn’t turned out that way, and the overwhelming majority of people in this country believe it has been an outstanding success, and I believe that it has reinvigorated Britain with a ‘can do’ attitude again instead of a ‘Oh, its all going to go horribly wrong, whats the point?’ attitude that is pretty much the hallmark of British self-belief these days. This boost in attitude is sorely needed in these dark times..
Bread and Circuses...... panem et circenses
It might be an Athens 2004 redux:
"The Greek embassy estimated that it cost Greece 8.954 billion to host the Summer Olympic Games in 2004, including the construction of the Olympic Village and several shiny new athletic venues. Since then, though, some of those venues have been abandoned, making one Olympic legacy a set of decaying structures."
That's all that matters.
I guess no one got it. 2020 - SEEatle ? :)
Against bankruptcy and Islam, Tokyo should win by default.
Against bankruptcy and Islam, Tokyo should win by default.
Pretty expensive morale boost.
< groan> It took me a lot more than a minute.
“Lets see, theres a global financial collapse, the european union is on the rocks, and they put on a show celebrating their godless socialist state, with lots of condoms so the athletes can fornicate like rabbits. Howd that work out? The amusing part is that it took experts to determine it was a bust, with the taxpayers picking up the tab as usual. If england was a fast food joint, it would be called home of the moron.”
Yeah, you Americans are so much cleverer than us Brits. We’re not clever enought to elect a foreign muslim president for your secular country or spend $2.5bn playing Mario cart on Mars while our economy flat lines and the Chinese buy anything worth having. As for fast food, well as you get close to a white minority country, at least my KFC shares will hold up. . . . . . .
“Istanbul? Its a lock then. First Muslim Olympics. Beach volleyball will make their heads explode.”
You’ve never been to Turkey have you? It’s knee-deep in topless beaches. . . . . . .
Good topless or Bad topless?
Is it true that the Salt Lake City Olympics turned a profit? I thought I read that somewhere.
Muslim influence over there formerly solidly secular government is growing. We'll see how many topless beaches there are 8 years from now.
The Olympics are best suited to tinpot dictators who want the world to pay attention to them, and who can extract the funding from their subjects. China, for example. Free people should avoid hosting like the plague.
Works out at about £130 per capita for the UK population. Worth every penny of my £130, as far as I'm concerned. Wouldn't have minded paying as much again to get this result.
Which is why you hosted them twice in the last 16 years?.
It was different during the Cold War. The Olympics were a way to showcase the west to the commies in a way that the commies could not hide from their people. It was worth spending a little money for that purpose.
4 times in the last 32 years in a 22 year period.
1980 - Lake Placid
1984 - Los Angeles
1996 - Atlanta
2002 - Salt Lake City
Sad. You’d think a sun-drenched place like Athens could at least make use of an outdoor pool.
But what the hey! It was only free money from some other EU tax payers... More please! Now!
“We’ll see how many topless beaches there are 8 years from now.”
Probably down to as few as there are in the US by then. . . . .