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One of the benefits, and perhaps the greatest incentives, of hosting an event like the Olympic games is economic. Countries bid to host the games not just to show off their nation and welcome the world, but to make money. People often wonder if investing billions into the Olympics is worth the return, but data shows that the long run benefits are worth the investment.
The 2012 games will cost around $20 billion for London to host, significantly over budget from the 2004 plan when they made the bid. The English government footed the bill through various agencies.
Thanks to the Games, residents of the UK will gain around $1.7 billion in additional income from now until 2015. Economic output will also increase over $2.5 billion a year over that time. The total stimulus for their economy will be near $10 billion total during the next three years.
Infrastructure
One of the questions that tends to follow large events like this is, “what happens to all the stadiums and arenas?” South Africa still faces this dilemma after hosting the World Cup in 2010, as the new the stadiums do not see regular use. This is sparking debate over whether it is worth it for the nation to host the tournament.
As for London, it currently plans to turn the Olympic park into thousands of homes for citizens.
Check out the infographic below for more details:
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