What are the Problems after Olympic Games…?
After the olympic games, many things are left behind which are not used later. For example, 30 million dollars have to be paid every year to maintain the Sydney Olympic Stadium. 460 million dollars were spent to build the Bird's Nest Stadium in beijing and 10 million dollars are spent every year to run it. Similarly, many new buildings were constructed for the olympics held in Athens, greece in 2004, but they were not used later. A lot of money was wasted on these and it became a debt burden on Greece. The Olympic Stadium built in Montreal, canada is also a huge expense. The roof of this stadium has been built three times so far, in which 870 million dollars were spent the last time. Many people are now demanding to demolish this stadium.
Expenses are many times more than the earnings
Compared to the money spent by countries in the olympic games, very little income is earned. In 18 out of 23 olympic games, more than 50 percent of the expenditure has been made and in 13 olympic games, more than 100 percent of the expenditure has been made. In 2008, the beijing olympics earned $3.6 billion, but more than $40 billion was spent. In 2020, tokyo earned $5.8 billion from the olympics, but $13 billion was spent on them. Not only this, more than half of the earnings are taken by the Olympic Committee.
More expenses than expected
The tokyo olympics cost $13.7 billion, while less than half the estimated cost. But the cost increased due to the Corona epidemic, because due to the epidemic, spectators could not come to the stadium. There was a loss of $800 million in ticket revenue and many rooms in the hotel remained vacant. Before the olympic games, governments prepare a report in which it is seen how much benefit will be derived from these games. Such as how many jobs will increase, how many tourists will come and how fast the economy will grow. But when the games are over, it is known that these benefits were very less. A study was conducted after the olympic games held in salt Lake City, USA in the year 2002. It was found that due to these games only 7 thousand new people got jobs, whereas the government had estimated that 70 thousand people would get jobs.
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