Folks, there's a reason why sensible democracies like Germany, Sweden, Switzerland and Norway are backing out of Olympic bids. This isn't 1988 anymore. The cost of these global events is enormous, and becoming attractive only to dictatorships and authoritarian oligarchies. I get that ignoring the bad and hoping for only the good is part of the makeup of being a sports fan. But we're talking billions and billions of dollars here. Don't let the prospect of two weeks of happy feels saddle your kids with a public fiscal hangover that will last decades.
The Bidding For The 2022 Olympics Is A Disaster Because Everyone Figured Out That Hosting Is A Total Waste
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Researchers have known for years that hosting large sporting events like the Olympics always costs more than expected and always yields less revenue and useful long-term infrastructure than estimated. Now voters and politicians in countries with democratically elected governments are starting to realize the same thing.
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