The Carnegie Council for Ethics and International Affairs asks, “Are the Olympics worth it?” Will the Olympics pull Britain out of recession? Or is it a short-term stimulation to the British economy? Is the cost worthwhile? What can others learn from this?
The question are the olympics is very vast and complex. The British government is spending an estimated $17 billion on the London games,which helps them to boost their economy on a short term only. They could use that money on creating jobs which could help them uplift their economy on a long run.
For 17 days event , you spent $ 17 billion, for what?
May be some corporations, industries, and the city got rich for a while but they could do better with that money on this economy. On my point of view the Olympics are worth it only on a sense that every four years the world’s athletes gather to compete, to focus on competition and share the passion, inspiration and excitement of individuals competing for gold and glory.
After the olympics is over, you are left generally with a dozen or so permanent venues that have to be kept up and maintained. It might cost $10 million, $20 million a year for that.
Well what others can learn from this is there is no point of building all new stadiums and later making it museum, the best idea to do would be reuse what you have.