Quote:
Originally Posted by iheartthed
Hasn't every single summer Olympics been in either the west or an advanced economy? Beijing is the only one I can think of in recent memory that wasn't, and I think most of us agree it was a success.
|
Depends how you define "success".
I define it as resulting in useful public infrastructure at a cost lower than would have been the case if that same infrastructure were just built without the Olympics. Infrastructure that is just left to decay and collapse after the games doesn't count.
Countries like China also consider the value of the "prestige" they think they get from hosting the games, but often that prestige is very fleeting or even of negative value. I'd say the Russians and possibly the Brazilians got negative prestige for their games or, at least, nothing of long term value. So in those cases you are back to whether they could have just built needed public projects for less money than the combined cost of the games and the projects they did build (including ones they are letting fall apart).
My formula is this: Cost of new actually needed infrastructure + profit or loss from games = total cost of games. If the games produce a profit, thus reducing the cost of the new infrastructure (that might have to be built anyway), they are successful. If they lose money, they are not unless one can justify that loss as buying the desired "prestige" that is long lasting.