Narendra Modi pitches Ahmedabad for 2024 Olympics, to submit plan to IOC
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http://www.economist.com/blogs/economist-explains/2013/09/economist-explains-0
The main reason cities want to host the Olympics is that, perhaps against the odds, they are wildly popular with the voters who foot the bill. Popularity aside, Olympic bids often have other agendas. The Beijing games were intended to show off China’s spending and organisational power. London’s games were a means of bringing back to life a poor part of the capital at a speed that defied normal budgets and planning regulations. Tokyo hopes the 2020 games can gee up Japan’s lacklustre economy.
http://www.nytimes.com/2014/08/10/magazine/does-hosting-the-olympics-actually-pay-off.html?_r=0
Braizl is hosting the 2016 Summer Olympics in Rio de Janeiro, has embarked on an infrastructure splurge that may top $25 billion. The spending is meant to underscore Brazil’s emergence as an economic power. The country’s leaders insist that it’s also intended to increase the nation’s prosperity.
The idea that big sporting events are good for growth is relatively new. The Olympics and the World Cup are now routinely described as economic engines. Four American cities — Boston, Los Angeles, San Francisco and Washington — recently announced that they were flirting with hosting the 2024 Summer Olympics, and in each case a justification was economic development. Such claims are based on the idea that the Games can serve as a tourist attraction, a chance to catch the eye of global business leaders and a way to rally political support for valuable infrastructure projects.
The Olympics have always been a debutante’s ball for emerging economies, from Japan in 1964 and Germany in 1972 to China in 2008 and Russia in February.
Philip Porter, an economist at the University of South Florida who has studied the impact of sporting events, told me that the evidence was unequivocal. “The bottom line is, every time we’ve looked — dozens of scholars, dozens of times — we find no real change in economic activity,” he said. Still, even for established cities like Boston or San Francisco, there is one clear reason to chase the Olympics or the World Cup: People like hosting major sporting events. Economists tend to pay more attention to money than to happiness, because money is easier to count. But it’s no small matter that surveys routinely find high levels of public support in the host nation before, during and after the Olympics and the World Cup. “It’s like a wedding,” Matheson told me. “It won’t make you rich, but it may make you happy.” The trick is deciding how much that’s worth.
The main reason cities want to host the Olympics is that, perhaps against the odds, they are wildly popular with the voters who foot the bill. Popularity aside, Olympic bids often have other agendas. The Beijing games were intended to show off China’s spending and organisational power. London’s games were a means of bringing back to life a poor part of the capital at a speed that defied normal budgets and planning regulations. Tokyo hopes the 2020 games can gee up Japan’s lacklustre economy.
http://www.nytimes.com/2014/08/10/magazine/does-hosting-the-olympics-actually-pay-off.html?_r=0
Braizl is hosting the 2016 Summer Olympics in Rio de Janeiro, has embarked on an infrastructure splurge that may top $25 billion. The spending is meant to underscore Brazil’s emergence as an economic power. The country’s leaders insist that it’s also intended to increase the nation’s prosperity.
The idea that big sporting events are good for growth is relatively new. The Olympics and the World Cup are now routinely described as economic engines. Four American cities — Boston, Los Angeles, San Francisco and Washington — recently announced that they were flirting with hosting the 2024 Summer Olympics, and in each case a justification was economic development. Such claims are based on the idea that the Games can serve as a tourist attraction, a chance to catch the eye of global business leaders and a way to rally political support for valuable infrastructure projects.
The Olympics have always been a debutante’s ball for emerging economies, from Japan in 1964 and Germany in 1972 to China in 2008 and Russia in February.
Philip Porter, an economist at the University of South Florida who has studied the impact of sporting events, told me that the evidence was unequivocal. “The bottom line is, every time we’ve looked — dozens of scholars, dozens of times — we find no real change in economic activity,” he said. Still, even for established cities like Boston or San Francisco, there is one clear reason to chase the Olympics or the World Cup: People like hosting major sporting events. Economists tend to pay more attention to money than to happiness, because money is easier to count. But it’s no small matter that surveys routinely find high levels of public support in the host nation before, during and after the Olympics and the World Cup. “It’s like a wedding,” Matheson told me. “It won’t make you rich, but it may make you happy.” The trick is deciding how much that’s worth.
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