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The Olympics, the event where the world’s top athletes meet and represent their countries in fancy new stadiums for viewers to enjoy all around the world. However recent games have taken their toll on their host cities with overspending and waste being major problems. Pictures of the stadiums built in Rio de Janeiro during the latest summer games reminds us more of a post-apocalyptic dystopia than the fresh new stadiums we saw on television only two years ago. And with the rampant corruption in the IOC(International Olympics Committee), which is a so-called non-profit organization, the question now is: How viable of an investment are the Olympic Games for future host cities?
Firstly we need to look at how high previous hosts estimated budget for the games and how it has differed from the final cost. According to the infographic James McBride shows in his article The Economics of Hosting the Olympic Games, (Council of Foreign Affairs, January 2018) every preliminary budget set for the latest ten games has been exceeded and sometimes with great margins e.g
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