• Frozengyro@lemmy.world
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    4 months ago

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

    • Flying Squid@lemmy.worldM
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      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
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      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
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        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
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        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?