The Huge Costs Behind The Olympic Games
The 2024 Summer Olympics are finally set to get underway in Paris today amid some substantial safety concerns like ISIS threats and this morning, large-scale vandalism of France’s train network. These high-level issues are momentarily distracting observers from another train wreck affecting most Olympic Games: cost overrun.
Spending more than you have budgeted for has become the norm for host cities, but as Statista’s Katharina Buchholz reports, Paris is actually not the worst of the bunch (as of current estimates) despite an overrun of more than 100 percent landing it at a cost of $8.7 billion for hosting the Games (excluding investments in urban and transportation infrastructure).
You will find more infographics at Statista
This is easily topped by Barcelona, which ran 266 percent over cost in 1992 and Rio de Janeiro in 2016, which was a whopping 352 percent over budget. Winter Games can also be more costly than expected, for example in the Russian town of Sochi in 2014, where the event was 289 percent more expensive than expected at a record-breaking 28.9 billion, or in Norway’s Lillehammer in 1994, there a 277 percent overrun occurred (but the total cost was still nowhere near as high).
While hosting an event like the Olympics is sometimes touted as an opportunity to improve city infrastructure, the enduring legacy of the Games sometimes ends up being a slew of abandoned and overgrown venues that no one uses due to poor long-term planning. That remains the case to this day in past host cities such as Sarajevo, Athens, Beijing and Rio, to name just a few, where crumbling stadia and forgotten Olympic villages serve not as proud monuments to athletic achievement, but rather as somber symbols of catastrophic financial mismanagement.
Some have taken these past mistakes to heart and Hamburg, Germany, is a notable example for taking back its 2015 bid on cost grounds after a public referendum. Other cities have learned that the financial consequences can be dire only after hosting the Games.
Tyler Durden Sat, 07/27/2024 – 18:05
Source: https://freedombunker.com/2024/07/27/the-huge-costs-behind-the-olympic-games/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,816,870,102 |
| Stories: | 8,663,186 |
Whistler Blowers, Insiders
