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Experts: Olympics havenít delivered significant financial rewards
thestar.com ^ | August 13, 2012 | the star

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 ...


TOPICS: Business/Economy; United Kingdom
KEYWORDS: olympics

1 posted on 08/14/2012 3:37:16 AM PDT by Berlin_Freeper
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To: Berlin_Freeper

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?


2 posted on 08/14/2012 3:48:19 AM PDT by HiTech RedNeck (let me ABOs run loose, lew (or is that lou?))
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To: Berlin_Freeper

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.


3 posted on 08/14/2012 3:48:36 AM PDT by exPBRrat
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To: Berlin_Freeper

The final 3 for the Summer 2020 games; Madrid, Tokyo, and Istanbul.

I am surprised Seattle was not involved.


4 posted on 08/14/2012 3:48:43 AM PDT by Perdogg (It's time to come together for America)
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To: Perdogg

I hope not Madrid. Otherwise Germany will have to pay for it.


5 posted on 08/14/2012 4:24:10 AM PDT by Berlin_Freeper (Siri: Paul Ryan 2016)
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To: Berlin_Freeper

;)


6 posted on 08/14/2012 4:33:37 AM PDT by Lonesome in Massachussets (The Democratic Party strongly supports full civil rights for necro-Americans!)
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To: Perdogg

I was thinking Sacramento.


7 posted on 08/14/2012 4:34:25 AM PDT by Lonesome in Massachussets (The Democratic Party strongly supports full civil rights for necro-Americans!)
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To: Berlin_Freeper

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.


8 posted on 08/14/2012 4:35:20 AM PDT by Hardraade (http://junipersec.wordpress.com (Obama Kills))
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To: Berlin_Freeper

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”.


9 posted on 08/14/2012 4:36:52 AM PDT by SpaceBar
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To: Perdogg

Istanbul? It’s a lock then. First Muslim Olympics. Beach volleyball will make their heads explode.


10 posted on 08/14/2012 4:43:13 AM PDT by Delhi Rebels (There was a row in Silver Street - the regiments was out.)
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To: Berlin_Freeper

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..


11 posted on 08/14/2012 5:21:08 AM PDT by sinsofsolarempirefan
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To: SpaceBar

Bread and Circuses...... panem et circenses


12 posted on 08/14/2012 5:22:16 AM PDT by Dick Vomer (democrats are like flies, whatever they don't eat they sh#t on.)
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To: Berlin_Freeper
And they put all those expensive venues in a poor part of town. Yeah, that'll turn out OK, because the type of people who live there treat their surroundings with love and respect (and never riot).

It might be an Athens 2004 redux:

http://io9.com/5931898/eight-years-after-the-athens-olympics-many-venues-have-been-left-to-rot

"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."


13 posted on 08/14/2012 5:31:08 AM PDT by Moltke ("I am Dr. Sonderborg," he said, "and I don't want any nonsense.")
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To: Berlin_Freeper
They have to the IOC.

That's all that matters.

14 posted on 08/14/2012 5:41:57 AM PDT by E. Pluribus Unum (Government is the religion of the sociopath.)
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To: Lonesome in Massachussets

I guess no one got it. 2020 - SEEatle ? :)


15 posted on 08/14/2012 6:37:47 AM PDT by Perdogg (It's time to come together for America)
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To: Moltke


I feel like I need a shot after just looking at this picture.
16 posted on 08/14/2012 6:43:01 AM PDT by Perdogg (It's time to come together for America)
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To: Perdogg
The final 3 for the Summer 2020 games; Madrid, Tokyo, and Istanbul.

Against bankruptcy and Islam, Tokyo should win by default.

17 posted on 08/14/2012 6:44:47 AM PDT by Mr. Jeeves (CTRL-GALT-DELETE)
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To: Perdogg
The final 3 for the Summer 2020 games; Madrid, Tokyo, and Istanbul.

Against bankruptcy and Islam, Tokyo should win by default.

18 posted on 08/14/2012 6:45:17 AM PDT by Mr. Jeeves (CTRL-GALT-DELETE)
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To: sinsofsolarempirefan

Pretty expensive morale boost.


19 posted on 08/14/2012 7:21:03 AM PDT by C19fan
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To: Perdogg

< groan> It took me a lot more than a minute.


20 posted on 08/14/2012 7:29:05 AM PDT by Lonesome in Massachussets (The Democratic Party strongly supports full civil rights for necro-Americans!)
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To: SpaceBar

“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”.”

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. . . . . . .


21 posted on 08/14/2012 7:37:47 AM PDT by Caulkhead
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To: Delhi Rebels

“Istanbul? It’s 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. . . . . . .


22 posted on 08/14/2012 7:39:26 AM PDT by Caulkhead
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To: Caulkhead

Good topless or Bad topless?


23 posted on 08/14/2012 7:42:29 AM PDT by Perdogg (It's time to come together for America)
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To: Berlin_Freeper

Is it true that the Salt Lake City Olympics turned a profit? I thought I read that somewhere.


24 posted on 08/14/2012 7:43:29 AM PDT by Batman11 (Obama's poll numbers are so low the Kenyans are claiming he was born in the USA!)
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To: Caulkhead
You’ve never been to Turkey have you? It’s knee-deep in topless beaches. . . . .

Muslim influence over there formerly solidly secular government is growing. We'll see how many topless beaches there are 8 years from now.

25 posted on 08/14/2012 7:51:11 AM PDT by Delhi Rebels (There was a row in Silver Street - the regiments was out.)
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To: Berlin_Freeper

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.


26 posted on 08/14/2012 8:32:43 AM PDT by Defiant (If there are infinite parallel universes, why Lord, am I living in the one with Obama as President?)
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To: C19fan
Pretty expensive morale boost.

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.

27 posted on 08/14/2012 9:24:05 AM PDT by Winniesboy
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To: Defiant

Which is why you hosted them twice in the last 16 years?.


28 posted on 08/14/2012 10:15:06 AM PDT by the scotsman (i)
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To: the scotsman
Not me. Atlanta and Salt Lake? How did that turn out for them? I would never support hosting the Olympics at substantial expense to the hosts. If you can do it at a profit, great.

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.

29 posted on 08/14/2012 10:28:20 AM PDT by Defiant (If there are infinite parallel universes, why Lord, am I living in the one with Obama as President?)
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To: the scotsman

4 times in the last 32 years in a 22 year period.

1980 - Lake Placid
1984 - Los Angeles
1996 - Atlanta
2002 - Salt Lake City


30 posted on 08/14/2012 10:35:00 AM PDT by Perdogg (It's time to come together for America)
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To: Perdogg

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!


31 posted on 08/14/2012 3:47:02 PM PDT by Moltke ("I am Dr. Sonderborg," he said, "and I don't want any nonsense.")
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To: Delhi Rebels

“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. . . . .


32 posted on 08/15/2012 2:17:18 PM PDT by Caulkhead
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