Have you been watching the Olympics?

I really enjoy watching the Olympics - I’d say gymnastics and track are my favourite events to watch.

This year I’ve noticed there has been a lot of conversation surrounding the costs of the Olympics - probably because Tokyo is set to become the most expensive summer games ever!

When they bid in 2013 they estimated it would cost $7.4 Billion to host. Before the pandemic hit this had already increased to an estimated $12.6 Billion.

Then the pandemic hit and they were forced to postpone the event for 1 year (the first Olympics to ever be postponed). This 1-year delay and the extra costs of planning an event during a pandemic have pushed the cost to over $20 Billion!

What’s more, Japan isn’t able to recoup what they’ve spent. They’ve lost an estimated $800 Million in ticket sales, and approx $2 Billion in income from visitors.

What are your thoughts on the Olympics? Do you think Tokyo made the right decision in going ahead with the event this year?

Tokyo had to go ahead with it, generally the Olympics benefit is that it makes its money back from the visitors that come and the state takes a tidy profit and hopefully long-term boosts tourism and the economy when people realise how nice their country is

But obviously they couldn’t do that, their country is already very much in the belief that Japan should stay Japanese and especially during the middle of a pandemic, no government would convince that everyone should be allowed in to watch

So there’s none of that benefit, is there? They get a few bob back to try get as much money back for taxpayers as they can and call it a day

I think everyone is starting to realise that the economic benefit isn’t as strong as once thought…

Countries have been dropping out of their bids and the IOC are having to change the way they look at the bidding process :point_down:

I like the idea of Permanent Host Cities. I’m thinking Birmingham for Summer Olympics and somewhere near the Alps for the Winter Games.

Definitely something that could potentially make the centre of the UK more of a hub of sorts. Especially if businesses can rely on some economic boom every 4 years.

But yes, I suppose you’re right. Especially with big nations there’s a consistent competition with it and there’s the thing about building this massive thing to host it. We already have built a stadium, so maybe it’s better to fix the games to let us compete but not end up killing the games off via no one wanting to host it.