February 4, 2014

How to Avoid the Next Sochi

Jonathan Mahler, Bloomberg

The Associated Press

Sochi may be an extreme case, but the general pattern is familiar: Host country wins bid for games, then goes way over budget -- in this case, $39 billion over -- preparing for them, all the time insisting that the money is financing vital infrastructure projects. (Like, say, a new mountain road to a new ski resort.) Once the games are over and everyone goes home, the host country is left with a lot of debt and underused stadiums and hotels. (Not to mention displaced citizens when the games are held in densely populated areas.)

A simple solution is at hand: Designate permanent sites for both the Summer and Winter Games.

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TAGGED: Olympic Games, Sochi Olympics

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