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Very few cities (1 maybe?) have ever been able to turn a profit off of the Olympics from the tourism they think it could bring. Not only do most cities not turn any sort of profit, they get themselves into millions of dollars worth of debt, if not more and the federal governments usually help pay that off. Networks that carry the games on TV lose money as well lol. They are really a drag not only on the city but the entire country where they are hosted, meaning you and I pay for them with tax dollars that could be much better spent elsewhere. Think about it though, I'd much rather go travel to any NFL game than I would an olympic event, unless its Federer or someone whos famous in another popular sport.
you can Google "Olympic Economics" for more information
http://www.economywatch.com/economy-business-and-finance-news/the-economics-of-the-Olympics.HTML
Actually the above poster is incorrect to some degree. According to Goldman-Sachs: "Historically, the financial reward of hosting the Olympics has been mixed: the 1972 Munich Olympics and the 1976 Montreal Olympics made significant losses, while the Games held in Los Angeles (1984), Barcelona (1992) and Atlanta (1996) each made a profit."
http://www.goldmansachs.com/our-thinking/topics/global-economic-outlook/olympics-and-economics-.pdf
The real answer to your question depends on the city hosting the Olympics. Some will make money, some will lose money. It's a crap shoot at best.
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∙ 11y ago
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