Is it worth 51 billion for the privilege of hosting the Olympics?

[thecatlover]

A country could do a lot with over 50 billion, can a society benefit enough from the immense cost to have the honour of hosting the Olympics? Why don't we just have the Olympics at the same few facilities every year so we can spend that money on social services like schools and hospitals and food?

[ManThatKnewTooMuch]

It CAN. It probably won't though. It all depends on how much money is pocketed but there are also longer term impacts like a boost in tourism. I can tell you that I never knew where Sochi was until yesterday.

Also, I'm assuming that you are asking why we don't just use the infrastructure that is already in place. The problem is that most countries don't have the infrastructure the way that the western countries do, Sochi included. You heard all that mess about Olympians not being able to flush toilet paper right? And then the roads... People look at it as a way to super accelerate the improvement of infrastructure.

[bh6676r942]

Well the Russian government actually built a city in a snowy forest region of Russia , West of the Caucasus region, it is basically a small city with a big stadium and hospitals and a police station exclusively for athletes, in my opinion it is like a fantastical place like the Greek realm of the gods. Also call so a lot of money to host the Olympics but The revenue is tremendous I'm sure if they don't break even, they will make billions in profits, and then there is the publicity of it what you like your country post it in the city of Istanbul?

[martyfellow]

Yes, I've always thought the same way. Instead of a show put on for the benefit of a few leaders who want to bask in the prestige, we should stage the Olympics based on minimal cost to the host country, like the UN--the whole world should contribute to the cost more or less equally.

[thecatlover]

Good idea we could have an athlete tax or something so the countries that send participants pay some money per athlete of base it on GDP or previous success or something to help subsidize it. OR just have a few host places (one per continent) and they have the olympics when it is there turn.

[martyfellow]

One or two per continent might be a good idea, instead of the bidding war we have now, we could have fixed semi-permanent locations, like the Greeks originally did.

[dodgypirate]

Often enough when the Winter Olympic Games or the Olympic games are over the Stadiums are refurbished and used as public facilities ... so no I don't think it's a waste.

Plus the Olympic Games are renowned to bringing the World together.

[Jsonason]

They've already lost so much of the investment to corruption that it's never going to pay for itself. In the end it's going to be the russian tax payers who get the bill while Putins friends laugh all the way to their banks.

[ManThatKnewTooMuch]

As it is in every country, my friend.

[Jsonason]

Untrue. Russia is among the most corrupt states in the world.

[Anonymous]

it is a global event and should not show favoritism towards any one country so the host country always changes.

the coverage/exposure for the country brings in money along with all of the sponsors that support it.

in the long run it is worth the upfront cost.

[THE_Godfather]

That's a good idea. Unfortunately it comes down to prestige & money. I also think the Olympic committee is playing politics & spreading the games around.

[thecatlover]

I think the Olympic committee is more interested in spreading their own pockets then spreading it around the globe

[gonyr]

As much as at really is, governments he size of Russia and the us go through that much money daily (don't quote me on that but I'm pretty certain this is the case.

[Jsonason]

I sure hope you're wrong cause if you're right the US will double it's national debt in little over two years from now.

[gonyr]

Ok so I was wrong. The government spends 10 bil a day. But that's not necessarily adding to the debt. It's not borrowing 100% of that money t and. We generate our own revenues.

[Jsonason]

My point was that 50b a day would quickly double your debt since it's five times your current expenditure ;)

Anyway, Russia isn't nearly as affluent or populous as the US, 51b is a big deal. Even if it wasn't (however 50b can't be a big deal I don't know, I could think of a few useful things to do with 50b) it wouldn't justify the corruption involved. The highway between the area with the stadiums and the ski resort cost so much it could've been plated with gold. Corruption at its finest.

[yaddayaddayadda02]

It appears there is significant financial gain according to these folks

link

[Hans222]

Njep, instead of going for the prestige, they would better have given it to the poor or invested it in the economy. Would have been a far better idea!

[JayMadrigal]

for china it is apparently (https://zeus-app. me/tips/tips-zeus-download/save-china-winter-olympics/)

[gotc147]

$51 billion? that's a piss hole in the snow... The US spends that every week and if you believe the democrats, that's not enough.

[Anonymous]

Hosting the games can be very beneficial financially to the host city / country. For example, the 2002 winter games in Salt Lake City were very profitable for the state of Utah.

[thecatlover]

Really? how many Utahnians made more than if the government just gave them the money that they spent for the facilities and security and what not?

[thecatlover]

Sochi has about 350,000, that means if the governemnt just gave all the citizens the money it would be 1.5 million per person. I don't think anyone would turn that down for the privilidge of having their city overrun by tourists for 2 weeks

[Opinion Owner]

It's so much more complicated than that. It's the difference between spending and investing. The economy in Utah is still benefiting from the games today, and will continue to for a long time to come. This article might help you understand better. I encourage you to ready it all. link

[Unashamed116]

I'm from Russia and I'm proud the Olympics are being held there because people don't like Russia. But Putin wants to show Russia, it's culture and people off to the world.

[Phoenix98]

A better use would be getting the economy up and running again and paying off our debts.

[jacquesvol]

No financial problem for Putin: Russia will export a bit more oil and gas to pay it.