Re:Medals at Tokyo olympics are recycled from discarded elec...
by CydeWeys on Saturday July 31, 2021 @11:10AM
(#28018780)
Atlanta 1996 turned a profit: https://en.m.wikipedia.org/wiki/1996_Summer_Olympics
Re:Medals at Tokyo olympics are recycled from discarded elec...
by ak217 on Saturday July 31, 2021 @06:11PM
(#28021960)
Atlanta 96 was a great case study in this. Atlanta built a ton of infrastructure that continues to serve the city well. Many of the venues built in downtown and especially on the Georgia Tech campus went on to be very productive and useful. Georgia Tech has a world-class gym and still uses some of the olympic village as dorms as part of that legacy. There is one big exception - a massive tennis center built out in the suburbs. It was too far outside the city, never got much use and was demolished in 2018. https://en.wikipedia.org/wiki/Stone_Mountain_Tennis_Center
Do you have a source? From https://www.cfr.org/backgrounder/economics-hosting-olympic-g...
> As a result, in 1979 Los Angeles was the only city to bid for the 1984 Summer Olympics, allowing it to negotiate exceptionally favorable terms with the International Olympic Committee (IOC).
> The 1984 Olympics in Los Angeles were the only games to produce a surplus, in large part because the city was able to rely on already existing infrastructure. As the costs of hosting have skyrocketed, revenues cover only a fraction of expenditures. Beijing’s 2008 Summer Olympics generated $3.6 billion in revenue, compared with over $40 billion in costs, and London’s Summer Games in 2012 generated $5.2 billion compared with $18 billion in costs. What’s more, much of the revenue doesn’t go to the host—the IOC keeps more than half of all television revenue, typically the single largest chunk of money generated by the games.