Olympic Economics Emily Ervin
Pre-Olympics I • Before a city even knows whether its going to host the Olympics or not, it summits a bid that can cost millions of dollars and can spend between $50 million to $100 million in fees for consultants, event organizers and travel in relation to hosting duties. Through this, cities lose millions of dollars, and they may not even get the chance to host the Olympics. • Hosting the games can cost even more than the bidding process. The debt that the city goes into affects the tax increase for citizens tremendously. • - impact-hosting-olympics.asp
Pre-Olympics II • Once a city wins the bid for the Olympics, roads, airports, rail lines, and hotels and buildings will be enhanced or built to accommodate the influx of people in the city. The housing for the Olympic village and specific facilities for the events must also be created or updated. Overall, costs for the construction may cost between $5 billion to $50 billion.
- Fall '17
- Dorothy Harrold