Is hosting the olympic games a profitable deal?
When the olympic games are held in a city, that city becomes the most prominent city in the world. Due to the olympic games, tourists come from far and wide, the media of the whole world is on that city and one gets the pride of being the host of the biggest sporting event on earth.
But the recent olympic games have shown that it costs much more than expected to organize it and the benefits are not that much. In 2020, especially due to the Corona epidemic, a lot of money was spent in the tokyo Olympics. Now paris is hosting the 2024 Olympic Games. The paris government is hoping that this time there will not be much expenditure like in previous years. It has also happened that some countries refused to host the olympic games, because a lot of money is spent and the cities that hosted the previous olympic games are still in debt.
First know how to get the hosting of the Olympics
The olympic games started in ancient greece and were always held at the same place. These games were held in Olympia. Since the beginning of the modern games in 1896, they have become the world's biggest sporting event, which is held in a different city every four years.
Many cities around the world bid to host these games to improve their infrastructure, boost their economy and increase tourism. Bidding to host these games costs between 50 and 100 million dollars, while it is not certain whether the hosting will be done or not. Potential host cities spend this money in the hope that they will host the games and it will have a long-term positive impact on their economy and tourism.
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