Every country hopes to host the World Games and win medals by participating in it. India has now started to see this dream. So organizing the Olympics is not so easy. With some exceptions, the Olympics have been held every four years since 1896. The country hosting the Olympics hopes to improve tourism, infrastructure and technology through it. Unfortunately, most of the host countries suffer huge losses afterwards. Montreal was the host of the 1976 Olympics. After the end of the sporting epic, Canada began to pay 20 years of debt.
Similarly, the 2004 Olympics were organized in Athens, Greece. Greece was drowned in debt of 14.5 billion dollars. 2008 Olympics were held in Beijing. China spent 40 billion dollars and received only 4 billion dollars. China suppressed this loss because its sovereignty would collapse. The host country suffered many losses in the London and Rio Games.
So the main question is why is there any harm in organizing this mega event of the world? Before hosting the Olympics, the host country has to build stadiums, hotels and many other things in a sophisticated manner. The host country does not have a special advantage in this. On the other hand, the number of jobs to manage it increases. For example, after hosting the 2000 Sydney Games, the maintenance of the main stadium is still costing 200 crores every year. 83 crores have been spent for Bird’s Nest Arena in Beijing.
In 1984, the host country benefited from the Los Angeles Olympics. The main reason for this was that there were already stadiums and other infrastructure. 2 new stadiums were just built. Due to the expulsion of the Soviet Union, the number of athletes and guests was small. As a result, it was organized at a low cost. The IOC retains most of the rights.
The last edition was held in Tokyo. Japan suffered a loss of 4800 crores. It was held late due to Corona. Due to the fear of epidemic, the number of viewers also decreased. 2024 and 2028 Olympics presented 5 cities. Budapest, Hamburg and Rome withdrew from the host race. As a result, 2024 Paris and 2028 Los Angeles got the right to host.
