Big Games, Small Profits

Big Games, Small Profits




“Faster, higher, stronger” – that’s the motto of the Olympic Games but you could add one more word to that: “costlier”.
JACQUES ROGGE, IOC PRESIDENT (2001-2013) : As in every competition, however, there can only be one winner.
Cities around the world are out-bidding each other to catch the eye of the International Olympic Committee.
The Sochi Olympics, like all before offer the host country a valuable moment in the spotlight and maybe a chance to profit in the long-run.
But history shows, profits have been a myth and the spotlight isn’t always positive. Make you wonder: why would anybody want to host the Olympics?
Thirty years ago the 1984 Los Angeles Summer Games cost around $546 million – about 1.2 million in today’s dollars. The bill of Sochi? Fine upward of 50 billion – an Olympic record.
Ski Jump, Ice Skating, Curling, Skeleton – if you break it all down, each one of the 98 events will, on average, cost $510 million.
Mega-sporting events are often billed as a boon to the host city, a two week blitz of tourism and TV face-time and a few Olympic Games have been a financial success: 1996 in Atlanta, 1992 in Barcelona, and 1984 in Los Angeles.
VICTOR MATHESON, ECONOMICS PROFESSOR, COLLEGE OF THE HOLY CROSS: “After the success of the Summer Olympics in Los Angeles where the event organizers actually ran quite a big profit, lots of cities say “We want to get into that and we want our chance at those riches.” The problem is that in 1984 in Los Angeles, LA was the only bidder for the games and therefore they could dictate the terms to the IOC. Nowadays when you have five, ten, fifteen countries from all around the world all trying to put their hat in the ring, that means the IOC is the one who is dictating the terms.
Economists like Victor Matheson question whether increased exposure means increased trade and tourism. And those Olympic tourists are often just replacing the ones that stayed away to avoid the crowds. Beijing actually saw a drop in hotel bookings during its summer games.
The IOC argues that host cities benefit from all the new infrastructure that gets built. Sochi will be left with better roads and transportation and a bunch of new sports venues.
VICTOR MATHESON, ECONOMICS PROFESSOR, COLLEGE OF THE HOLY CROSS: Countries are also hoping to be left with a big tourism legacy. Certainly Sochi is banking on that; essentially we’ve built a resort community in the middle of nowhere where none was before. Unfortunately the branding has probably not been so good so far for Russia.
So why host? It took Montreal thirty years to pay off its Olympic debt. It’s the Olympic spirit for one…for another, people who live in these places like to celebrate their cities.And here’s one more: over the past ten Olympics the host nation has, on average, won 54 percent more medals than when it was not hosting. That’s an Olympic bottom line.

“Faster, higher, stronger” – that’s the motto of the Olympic Games but you could add one more word to that: “costlier”.
JACQUES ROGGE, IOC PRESIDENT (2001-2013) : As in every competition, however, there can only be one winner.
Cities around the world are out-bidding each other to catch the eye of the International Olympic Committee.
The Sochi Olympics, like all before offer the host country a valuable moment in the spotlight and maybe a chance to profit in the long-run.
But history shows, profits have been a myth and the spotlight isn’t always positive. Make you wonder: why would anybody want to host the Olympics?
Thirty years ago the 1984 Los Angeles Summer Games cost around $546 million – about 1.2 million in today’s dollars. The bill of Sochi? Fine upward of 50 billion – an Olympic record.
Ski Jump, Ice Skating, Curling, Skeleton – if you break it all down, each one of the 98 events will, on average, cost $510 million.
Mega-sporting events are often billed as a boon to the host city, a two week blitz of tourism and TV face-time and a few Olympic Games have been a financial success: 1996 in Atlanta, 1992 in Barcelona, and 1984 in Los Angeles.
VICTOR MATHESON, ECONOMICS PROFESSOR, COLLEGE OF THE HOLY CROSS: “After the success of the Summer Olympics in Los Angeles where the event organizers actually ran quite a big profit, lots of cities say “We want to get into that and we want our chance at those riches.” The problem is that in 1984 in Los Angeles, LA was the only bidder for the games and therefore they could dictate the terms to the IOC. Nowadays when you have five, ten, fifteen countries from all around the world all trying to put their hat in the ring, that means the IOC is the one who is dictating the terms.
Economists like Victor Matheson question whether increased exposure means increased trade and tourism. And those Olympic tourists are often just replacing the ones that stayed away to avoid the crowds. Beijing actually saw a drop in hotel bookings during its summer games.
The IOC argues that host cities benefit from all the new infrastructure that gets built. Sochi will be left with better roads and transportation and a bunch of new sports venues.
VICTOR MATHESON, ECONOMICS PROFESSOR, COLLEGE OF THE HOLY CROSS: Countries are also hoping to be left with a big tourism legacy. Certainly Sochi is banking on that; essentially we’ve built a resort community in the middle of nowhere where none was before. Unfortunately the branding has probably not been so good so far for Russia.
So why host? It took Montreal thirty years to pay off its Olympic debt. It’s the Olympic spirit for one…for another, people who live in these places like to celebrate their cities.And here’s one more: over the past ten Olympics the host nation has, on average, won 54 percent more medals than when it was not hosting. That’s an Olympic bottom line.

Source: nytimes

Video cùng danh mục
Quảng cáo

Tư vấn và đặt mua thẻ qua điện thoại : 0473053868 (8h-21h)

Luyện thi 123 - Học thú vị - Thi hiệu quả
ĐĂNG PHẢN HỒI CỦA BẠN CHO BÀI HỌC NÀY

Chú ý: Nội dung gửi không nên copy từ Office word

Chèn biểu tượng cảm xúc
Bạn phải đăng nhập để sử dụng chức năng này
CÁC Ý KIẾN BÌNH LUẬN - PHẢN HỒI VỀ BÀI HỌC NÀY
Đăng bởi thành viên Xếp theo
Ngày tham gia: 04-09-2015
Bài viết: 575
• Điểm thành tích: 34
• Sổ học bạ: Học sinh triển vọng
• Điểm học bạ: 253
_No comment_
Gửi lúc: 14:54:57 ngày 19-06-2020
nghongnhung123
Ngày tham gia: 01-09-2019
Bài viết: 5476
• Điểm thành tích: 1053
• Sổ học bạ: Học sinh ưu tú
• Điểm học bạ: 374
_No Comment_
Gửi lúc: 19:57:04 ngày 12-06-2020
#ryndeptraivl
Ngày tham gia: 28-07-2016
Bài viết: 5212
• Điểm thành tích: 813
• Sổ học bạ: Học sinh ưu tú
• Điểm học bạ: 351
Bài viết của mình ít quá, phải cày hoi (╥﹏╥)
Gửi lúc: 10:45:43 ngày 07-06-2020
I'm alive, not die
Ngày tham gia: 19-09-2019
Bài viết: 666
• Điểm thành tích: 6
• Sổ học bạ: Học sinh triển vọng
• Điểm học bạ: 211
~No commet plesse!!!~
Gửi lúc: 13:13:59 ngày 13-05-2020
︵✿๖ۣۜSαɾαηɠ‿✿
Ngày tham gia: 27-10-2019
Bài viết: 370
• Điểm thành tích: 66
• Sổ học bạ: Học sinh ưu tú
• Điểm học bạ: 303
_No comment_
Gửi lúc: 13:51:19 ngày 18-04-2020
Mèo¿¿¿
Để tra nghĩa một từ, bạn hãy click chuột hai lần vào từ đó.
Tổng đài hỗ trợ trực tuyến
Tel: 024 73 080 123 (8h30-21h)
HỎI ĐÁP NHANH
Mời các bạn click vào đây để tham gia thi đấu tiếng Anh trực tiếp - và click vào đây để tham gia luyện nói qua video chat - 2 tính năng đầy hứng thú và kịch tính mới ra mắt của Tiếng Anh 123.
Chỉ thành viên VIP mới được gửi câu hỏi ở mục này. Nếu nói bậy bạn sẽ bị xóa nick.

Giúp bạn giải bài tập các môn

    Video Chat www.abckid.vn Tải tài liệu Tiếng Anh hay miễn phí
    THỐNG KÊ
    Tổng số thành viên: 3.254.388
    Thành viên mới nhất:
    sad123
    Đang trực tuyến: 263
    Đóng