What is the true cost of the Olympics?
Having secured the 2012 Olympics, we now have to work out how to pay for it. Recent news has indicated that the cost of hosting the Olympics has risen significantly from the original estimate. However, there is considerable debate in the media about what the real cost is. The figures given are massive, but what will we be left with after the games are over? How can we value these assets? The blog below from Evan Davis looks at some of these issues and discusses the real cost of hosting the Olympics.
Why do costs overrun? BBC News Online (16/3/07)
Real cost of 2012? BBC News Online – Evan Davis blog (15/3/07)
Questions
| 1. | Identify five fixed and five variable costs of running the Olympics. |
| 2. | Discuss the value of the opportunity cost of hosting the Olympics. |
| 3. | List the direct and indirect benefits of hosting the 2012 Olympics in London. |