Costly stadiums

[Lord Roco]

Each time the Olympics or other famous sporting tournaments are notified, countries fight amongst themselves to showcase the amount of money and the grandeur of infrastructure they can spend and build for the tournament.

Do you think that this spending spree is making sports tournaments less accessible to the people? Is it justified that countries needs to spend such enormous amounts of money for sporting tournaments? Has it become a tendency that every country has to go bankrupt trying to host one of these sporting events?

 

[Blueflame]

While I don't like the fact that they have to go on a spending spree in order to hold a tournament, I do believe that if they are able to host it, it will no doubt generate a huge income for the nation. So I really can't blame them.

 

[Lord Roco]

I dont think the revenue generated covers the cost at all.

Beijing in 2008 generated 3.6 billion against the cost which ran to 40 billion. Or Tokyo in 2020 generated 5.6 billion against the cost of 13 billion. These are the recent trends.

In short, after countries are not even able to generate the cost, let alone profits. After the games are over, they find themselves in debt and with non serviceable infrastructure also.

You can read more about it here: https://www.cfr.org/backgrounder/economics-hosting-olympic-games