Posted by: olymponomics | May 10, 2012

Risking the Olympics

There is still debate about the final cost of the Athens 2004 Olympics and the degree to which it contributed to Greece’s current economic troubles, but what is clear is that major events such as the Olympics pose a serious risk to host cities in terms of their economic and material legacies – in the form of vast debts and under-used and costly stadiums and infrastructure. While much effort goes into winning the right to host mega-events such as the Olympics, typically far less goes into legacy planning and thinking about the sustainability of investments in the longer-term.

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