Top 10 Times the Olympics Bankrupted a City
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- Опубликовано: 21 ноя 2024
- It's all fun and games until the bill comes. For this list, we’re looking at the cities that took the biggest financial hits to host the Olympic Games. Our countdown includes Sydney 2000, Montreal 1976, Rio 2016, and more! Let us know in the comments which you think is the most embarrassing.
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Let us know in the comments which you think is the most embarrassing.
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Tokyo Olympics 2020
Tokyo 2020, because there were no spectators cheering and watching
I'll join by saying Tokyo as well. During a pandemic was not a good idea but what's done is done
@@mlggamer5296 And that is economic crisis, bankruptcy, and the worst defeat for Suga and the LDP.
Rio is the most embarrassing, because most of the venues are in decay
Brazil wasn't really helped by still trying to recover the costs of hosting the 2014 Fifa World Cup either.
Now some folks believe that Chicago would have done better than Rio. But some folks believe that politics played a role in why Chicago didn't get the games and why Rio did.
@@davidsaunders8194 Well, there was also the deal of Chicago's high crime rate too, not just the political aspect. I know someone who lives there that says it's not even safe to walk during the day without the risk of getting shot, at least in certain places.
those soccer fields are most likely often used by many people. i dont have evidence to back this up, but cmon, its brasil lol
@@helgaformo2054 They're not. Most of them are just left to rot in the Amozon.
@@connorrivers995 kids dont use them???? i figured soccer fields were to brasilian children what six flags is to american children.
Countries should just have plans for what they will do with venues afterward, and have them set up so they can be used afterward, London definitely did the best job at that, but was far from perfect
London's was a downgrade. Going from an Olympic stadium to the home of West Ham.
A lot of these countries do that, but nothing is guaranteed and because of that, venues lay empty.
Or you know. have the IOC use already existing venues rather than forcing each city to built new ones.
True. Why not make the rooms they stayed at as hotels?
@@theanimeunderworld8338 That could work as long as a hotel company would want to purchase the building.
Umm actually in Sydney, we use many of these venues. The main stadium is used to host major events like concerts and sporting events and the swim hall at least was turned into a aquatic centre
A significant amount of the sporting venues in Sydney are still used today, it actually improved the facilities for many to train in and to hold competitions. The main Olympic stadium itself is regularly used and has been used to play, Soccer, Rugby League, AFL and even Cricket matches.
The Olympics village is now used as units for people to live in as well.
Came here to say that. I don’t think the Olympics bankrupted Sydney.
@@angelsam29 it set us back atleast 5 years. Our infrastructure and transport took a long delay while the city tried to repay its debts. I'm just worried Brisbane is going to cop it a lot worse in 2032
@@Urbanfire123 yeah, i currently live in brisbane and it’s already a nightmare when it’s busy, lord knows what it’s going to be like when we host the olympics. Although the council had already been working on upgrading public transport systems to run more efficiently and hold more people
Yeah but had like a million animals that can kill you so you always see the good point of things
I can say, from living in Vancouver, our Olympic village is thriving hub with stores, restaurants and condos. It’s awesome 😊
I agree and all the major venues are still being used. When I saw Vancouver on the list I knew the list was crap.
@@Camman010 yea Vancouver was actually amazing
It took over a decade for that venue to be profitable, lol that's not really a flex.
Yup Vancouver should not be on this list. I think the IoC is using it as a success story since our overall budget was low compared to others (if you ignore security costs).
im australian and seeing sydney in this list surprised me cause ive only ever heard how sydney 2000 was a positive for the country despite the cost. as far as i am aware, sydney 2000 is referred to as one of the most successful olympics ever so i dont think it belongs on this list.
Negative ghost rider. Sydney lost 2.1 billion due to the Olympics. Very few have made profit. I believe the 2 Olympics in Canada were profit. USA had profit. and some Europeans countries.
B C but could you really say that the olympics bankrupted sydney like it bankrupted some of these other cities? if the olympics truly had such a negative impact on sydney then it doesnt really make sense that we keep referring to it as one of the most successful olympics ever. not to mention, almost all of the sydney venues remain used which doesnt seem to be the case for most of the places on this list.
@@bc4922 venues don’t sit disused as stated by this, the Olympic site is used all the time
@@abbyrose6660 ah i think only australians refer to it as the most succesful olympics ever. go to china & they'll say beijing was the most succesful olympics ever...go to greece & they'll say it was greece. it did put sydney into 2.1 billion in debt -- just last year, economists in the sydney morning herald still questioned the long-term impact of sydney as studies showed it did not increase employment or tourism as organisers hoped...olympic stadium was 690 million to build, 30 million per year to maintain but only rakes in just over half a million in income in 2019.
Erik i doubt greece would call their olympics the best since their olympics truly did bankrupt the city and most of their venues remain abandoned. my point being, if sydney 2000 really wasnt as successful as everyone says it was, why would we refer to it like that? also, you must be getting your facts from a wrong source because a simple google search told me that the anz stadium (which it is now called) rakes in an estimated revenue of $30 million per year. it also wouldnt make sense for it to only earn 1.5 million in 2019 since anz stadium hosts multiple sporting matches across several months with each game raking in a minimum of $175,000, and that doesnt even include the signage and corporate money. i looked it up and the stadium hosted 24 games of the same sport in 2019 so if you do the math, thats at least $4.2 million in revenue from just one sport. and it certainly doesnt make sense to keep a stadium running if it only makes $1.5 million a year, and it would be a bit ridiculous to keep it up and running if cost $30 million to maintain each year while earning so little.
The 1988 winter Olympics in Calgary Alberta showed a profit. There was a huge level of volunteerism, the events were very well organized. The '88 Olympics gave us Eddie the Eagle and the Jamaican bobsled team. It was a lot of fun.
I also heard that the facilities are well used for training and recreation. I think it's a good example of doing things right.
So the title says “bankrupted a country” but the opening narration says “bankrupted a city”. Might wanna fix that real quick guys 😬
Clickbait
@@CS-wn2sz Like every other one of there videos
Right. The was the main reason I clicked on the video lol
The title was change after this misinformation
It says city-
Actually we're using the Olympic venues in Sydney. Nothing is abandoned here. The olympic park area is still a popular venue for many big events including concerts and sporting events. Dunno where u got the idea that it was abandoned
A lot of people in the comments are saying that. Good for Sydney my dude.
Good grief, Sydney Olympic venues are used heaps!
good to see australia handle those things very well
They lie to Say that america is the Best country at everything
Well, the pov is on the 2000s. Pretty sure after 21 years, Sydney would come up with a plan to profit from its loss when the Olympica was held there.
I live a 10 minute walk from the Olympic stadium in Athens, its true that the maintenance is not that great but the stadiums are used providing lessons or hosting games, also the stadium gas been used and is still used for concerts and every weekend is full with families bikes, skates, roller blades runners, jokers etc. It is not abandoned at all, personally I ran there on the weekends and I used to take swimming lessons there
It's a simple solution: Countries/Cities that don't already have the infrastructure in place, usable, and regularly used, for say a minimum of 5 years prior to selection, cannot host the Olympics. This would mean that locations would have to be Olympic ready for nearly a full decade before the Olympics goes there. I think we've seen enough countries waste money on this that any argument against some similar sort of policy is just illogical greed.
Hosting an olympic isnt that expensive, americans like to exagerate si other countries can't host them. The tv reveneau and the millons of tourist in the olympics and after it make up the price unless it's terrible managed, but that only happend in canada
@@jgzales1 The costs have been rising the last couple times of what was bid and them all going massively over the projected budget. The infrastructure built that is sold as a long term benefit is entirely a mixed bag there are plenty of buildings that go empty and unused. Even successful games had money issues afterwards
I like your thinking
I think by now countries would know what it actually takes to host the olympics, and therefore refrain from hosting it. I’d say LA2028 and Brisbane 2032 would be great, considering that those countries had hosted the Summer Games before and didn’t end up screwing themselves.
Agree I've always thought they should just pick 10 different places and go btwn those... 5 for summer 5 for winter
Disagree about Sydney. Venues are still used quite often and the city wasn’t bankrupted.
Good to know I'm not the only one who thought that.
I still think Brisbane 2032 is a bad idea.
@@parrey1985 I don't want to agree with you but I have a bad feeling about it. I've lived in Brisbane for 30 years and I WANT it to work out and be the best games ever. I'm not sure if it'll happen though, but I'm trying be positive.
@@parrey1985 it IS a bad idea. Besides no one else wanted it. Brisbane was just the last city to step backwards
@@brassholio you are wasting your time. It's not the commonwealth games you know, and Brisbanes weather is rubbish.
@@zapkvr Well aren't you just a ray of sunshine. Brisbane has pretty amazing weather for a lot of the year but unfortunately not around the time of the Olympics. It can be quite windy and there have been some rainy days over the last few weeks. I prefer to look to the good things instead of being a miserable, negative POS like you.
I absolutely agree about our Olympic stadium (Montréal), that white elephant looking like a toilet bowl. How many times and how much money were the costs for that mobile roof we had to change over and over again because it kept tearing and collapsing from the weight of the snow or even from heavy rains.
Your list is inaccurate. Sydney’s Olympic facilities are STILL in use today. NSW and Australia as a whole were far from a bankruptcy as a result of the games.
I'm pretty sure they don't care they just needed 10 cities
Replace Sydney with Sarajevo and maybe this list goes somewhere.
@@Bongaboi151 sarajevo was sad due to independence from Yugoslavia
It's almost like the Olympics are a massive money sink that never bring in enough money to justify the huge expenditure.
And Money laundering
People STILL watch the Olympics? I have not watched a single Olympic event in the last 30 years
@@all3nplayzgames577 ok boomer
Or like London, you use the Olympics to do what you already want to do and scale up your plans. You get better quality because it's the Olympics but you were going to spend some of that money anyway. If you don't need a new Velodrome or Swimming centre, don't apply for the Olympics!
@@nuibui6667 Such an intelligent response.
Tokyo 2020 should be here for three reasons. The cost, the delay, and no financial help from tourists
It probably will be. We won't know the financial impact on Tokyo for a while, and the Paralympics are still to come.
still Tokyo already had stadiums that are being used right? unlike some of the things here were newly built
0:08 Olympics bankrupted a city?
The title says they bankrupted a COUNTRY
0:24 - another mistake, make up your mind and change the title of the video
Damn bro, we only human 🥲
Well that’s a relief good thing that it can’t bankrupt a country
If it bankrupted a nation, that would be awful.
They changed the title 👀
The Sydney venues are not unused. Many were existing at the time, and most continue to be used to this day. And the NSW government were footing the bill from the start, most major events or projects are run from the state level in Australia. There isn't an overarching city government in Sydney, or most Australian cities, just local councils. As for backrupting the state or the country, not even close.
The athlete village was made up of smaller temporary houses that was actually used for other housing units
Yeah second this, the venues are used ALL the time and the other facilities for either converted or utilised for other things. Yes it ran over budget, but can’t hardly compare to some of these others here.
Good to see someone else said it. I was thinking the same when I saw Sydney as number 9
I always knew that area to be used for V8 Supercars (up until a few years ago) and I know they used it in 2019 for Rugby final and thought it must be used for other events. So I was surprised to see it on the list
@@dough2565 the arena next door was used for stage shows and events and the showground stadium is used for AFL. And I have been to a few concerts at the Olympic stadium and there's the Easter show.
I'm guessing it's too soon to put Tokyo in there? Surely with the delays, isolations and no audience at all, it can't have made any money back. Poor Japan.
They had the games in the 1960s, so this is their second time around. First time around, they played the Olympics in October due to the heat, which they should have done for the 2020 games, but the organizers must have forgotten about that. I’m betting they might have reused some locations for these games too.
@@1992AC the longer Japan delayed the Olympics, the costlier it was getting. So the organisers wanted to finish it as soon as possible.
Plus, after 2021, the Olympics would've been cancelled, meaning all of Japan's effort would've been to waste. So, the country wanted to make sure they finish it before a covid wave came which would've made it impossible to host.
Technically Tokyo's main stadium was torn down and rebuilt. This was used during football games and other international events or sports. All of the other areas were built for the olympics but with the public at mind. The Skate stadium to my understanding will be used for the public and local skate events, Same with the beach volleyball basketball and a few other areas. Tokyo will make its money back, but it will take awhile.
Add the cancellation of 1940 due to war with China on top of Europe at war.
“You needed a ticket to get to the ticket booth.” Doesn’t already having a ticket defy the point of going up to a ticket booth in the first place?
Lol bro you don't listen much do you 😂
Thing is with Vancouver, they didn’t really need to build stadiums for the games, because we already had them, such as Pacific Colosseum, Rogers Arena, and especially BC place, along with mountains towns such as Cypress and Whistler, so I don’t really believe Vancouver should be on here.
Agreed and neither should Lake Placid. Quite frankly, the title of this video is quite a stretch. There's a huge difference between going bankrupt and going into debt. Now mind you, neither one is great but this video makes it seem like Vancouver and LP suffered immensely from hosting the Games. My understanding is that Vancouver made significant profits from the Games (so much so thay they're planning on bidding for the 2030 Games). LP still uses many of its 1980 Games facilities with the exception of the bobsleigh track (a new one was built in 1997-1998) and routinely hosts World Cups and tournaments.
@@cynsledder Yeah I don’t really remember it, because Lake Placid happened before me, but still, we still use some of the spaces, less so the pacific colosseum anymore, but BC place has the lions and the whitecaps, while Rogers Arena has the Canucks.
Kinda makes you wonder. why are 2 Canadian cities on the list? Maybe it's crappy construction companies or mob involvement in the case of Montreal
@@kennysmith1925 I don’t know, but we had to haul snow to Cypress and Whistler for the games, since it was a mild winter
They also are interested in bidding for 2030.
Cheer up! At Montreal 1976 was first olympics games when an gymnastics athlet took an perfect 10 score. Thanks Nadia Comăneci!
I went to the Olympic village in Montreal back in ‘97. It was the saddest place in the world. It’s like if you built DisneyLand in Bizzero World.
Turning a previous venue into a prison is the most America thing I’ve ever heard 😅
They love filing up those prisons
Fingers crossed that it isn't a private prison.
With the wrong people
@@fromthehaven94 Oh you already know that's the first thing that they would do
Sports should matter more 🇺🇸🇺🇸
@@hellolastname9556 why?
Top 10 reasons why a developing country should never host the Olympics.
Yeah, Canada (twice), USA, Japan and France
The Olympics in Mexico City didn't bankrupt Mexico.
@@missdeejay tax laws were different back then. Now, the IOC wants the Olympics to be hosted tax free and pockets most of the revenue.
@@AdarshKumar-nj7rp
No one knows what you are talking about with "tax free" etc.
The only cities that have profited from hosting the Olympics are these
Summer Olympics: Los Angeles, London, Seoul, Barcelona, Atlanta, and Beijing
Winter Olympics: Sarajevo, Calgary, Salt Lake City, Vancouver, and Pyeongchang
You should do a top-ten profitable Olympics as a counter-point
One would think that all the countries involved would just decide to share set areas to host the games, one for each continent. And every four years one country is picked to be in charged for it.
The only thing I got out of this video is that one guy's name being Dick Pound.
We’ll then the IOC wouldn’t get its cut then would it.
@@ironbowtie 🤣😂
@@coldheartedsnake2302 well its not as unrealistic as it sounds. I can't believe I'm saying this, but IOC should take a page out of FIFA's book. While I understand that for the world cup its a national effort compared to a single city for the Olympics, countries that are in close proximity can have their cities host together. Certain cities together in Western Europe come to mind. Or the IOC should use an entire nation as host rather than one city like the WC.
Top Ten it should be every single time a country hosts the Olympic games.
Not los angeles
@@jesusbarajas8067 I would like to see the real accounting books for the Olympics, not the fake ones they gave to the public.
@Micah Burns No matter what I still believe the Olympic games are a money pit even if most of the infrastructure is in place. The Olympics are known for many scandals, corruption, etc but we still are having the Olympic games and it's time to boycott the whole event.
Not Great Britain 2012
@@robertwatt5382 but you are Batman, you should set the corruption straight.
Chicagoan here, one of the cities skipped over for Rio. Still pissed. Maybe we dodged a bullet, but definitely were capable of hosting. Yep, still pissed.
Jackass, your crime rates scream repellent to host something like that....
@@SlickRick4EVER please don’t call me a jackass for loving the city I was born and raised in. There’s no need for that.
I don't think you just love your city...I'm a Brazilian, but i'm not from Rio...your words tell me that if you meet me in Chicago, you'll be pissed off with me for nothing, and that's not a Good thing...
Bid again! The IOC is seriously short of hosts. LOVE Chicago (I went to college there and my father was born there).
Lake placid still has events and teams train here in the winter. They are upgrading venues to bid to host the games again
To be fair... Sochi did have a few uses for the Olympic Park after the games. One use was for Formula One, as the Sochi Autodrom is built around the park and is used for the Russian Grand Prix. The Olympic stadium was also one of the venues for the 2018 FIFA World Cup, also hosted in Russia.
I don't think the Formula 1 circuit will be used any time soon, much like the rest of the venues. Now it's pretty easy to write this as of March 2022 given recent events...
@@flightmaster999Трасса Формулы-1 до сих пор используется. Там проходит TraqChallenge, а также обучение с профессиональными гонщиками. Олимпийские объекты используются постоянно. Например, там проходит VK Fest (ежегодно с 2017 года), концерты и футбольные матчи на стадионе Фишт. На Большой ледовой арене проходит чемпионат по хоккею среди юниоров и т.д.
Melbourne is a great example of how how to do it. The MCG has been there for over 150 years and gets used all year round for footy, cricket, concerts and all sorts of events.
Los Angeles and Atlanta too
True. Long ago though. But one important tidbit - The Olympic Swimming pool arena for '56 - later became the Melbourne Sports and Entertainment Centre. They took the pool out in the late 70's and put a floor in - and from the late 70s to the late 80's it was Melbournes premier indoor sports arena. For concerts, indoor sports etc, around the 8,000 capacity mark. Rod Laver Arena overtook it in the early 90's. But thats forward planning and using the actual facilities for decades to come!
Let’s put it this way about the Montreal Olympics: one Italian “family” got really rich skimming off the top of that budget…
The Saputos, all told.
The fact that it has happened more than once itself shows how messed up it is
Keep in mind that at least in Sochi, the stadium was used for the World Cup and there's that circuit....... Yikes
Montreal 1976 didn’t make the cut? The World Expo 67 and the olympics did a lot to the city. But that stadium cost them an arm and a leg! The roof kept needing repair. It took a very long time to repay.
Errr... Montreal 1976 IS in the no.1 spot. Watch till then end...
All these comments about Sydney are so true. Apart from lockdown, they get used weekly. From all cities in Australia that have had Olympics or Commonwealth Games are always used. The list definitely needs updating
There's nothing excited watching Olympic Games. It's all boring stuff now, I prefer winter Olympics, FIFA world Cup, European championships!
Fun fact: during the ‘96 Olympics in Atlanta, many events were actually held in other cities in Georgia (two in Athens, *_THREE_* in Stone Mountain, & one each in Savannah, Gainesville, Columbus, Conyers, & Jonesboro), & European football (or soccer) matches were done in three different states (Miami, FL, Birmingham, AL, & Washington, D.C.)
The most well known of these alternate locations is the Ocoee Whitewater Center in Polk County, Tennessee, where the slalom canoeing events took place.
And they turned a profit and gave Atlanta an international reputations--a mostly good one
The Centennial Olympic Stadium was turned into a baseball park for the Braves, and then a stadium for Georgia State's football team, which was inaugurated in 2013.
I lived in Atlanta from '73 until 2008. . Still have a house in Tucker. I remember the day when Billy Payne announced that Atlanta would be hosting the '96 Olympics in the earlly '90s. People scoffed. I went to the '84 Olympics in LA because I didn't think that I'd ever see another O in America in my lifetime. Many in the city were shocked when the annuncement was made. The organizing committee should have been awarded a medal for convincing the Olympic committee that the AVERAGE temperature in Atlatna . . in August . . was/is 67 degrees ! What a farce. You melt in the dog days in Ga.
It is customary for the IOC head to close the Olympics with the customary words. . "greatest Olympics ever".. only he didn't come close to saying that with Atlanta. "Most gracious" is what i heard. They skimped on virtually everything. The venues were basic but not spectacular. Beach volleyball was held in a neighborhood in Stockbridge I used to work as a contractor. Pitiful. The signs to the event were "posted" via stakes in yards. They built a tennis center at Stone Mts. .not far from my home. Today it sits among weeds. . .vacant for decades. Sad to see. Of course the area where the Olympic stadium was . . turned into Turner Field and now Ga State Univ football. Only a plaque and a marker is left as reminder of the great event. Ga Tech did get a natatorium out of the event. Almost nothing else exists.
Once Atlanta was named as a host, many "entrepreneurs" readied their homes for rent. For too many thought that they would get rich on merchandise sales. Cheap trinkets and banners. The city did have the luxury of the world's busiest and most successful airports but the amenities and sights in and around Atlanta fell short of expectations. You DON"T choose Atlanta, Ga for a "vacation" in late July/early Aug. Nonetheless, the games didn't bankrupt the city. They may have even made a buck. Billy Payne went on to chair the Augusta Masters event. Everyone simply went back to sweating. Today, there is little reminder that the '96 Olympics ever existed.
As for the kayak/water sluth on the Ocoee River. . .torn down five years back. I drive by it on my way to Tenn. Hard to believe the world ever was there. Billy Payne and his cronies pulled off a good one.
@@michaelwolf6424
Sorry but overly cynical.Many venues already existed. MANY still exist. Heck even Yankee Stadium has been torn down (tragedy). The athletes were well housed and competition was top notch.
@@lawrencewood289 No one denies that the athletes were well housed. Nor the competition wasn't top notch. I never said neither were. My words only echo those I heard around me. After all, I had attended the '84 Olympics in LA. They also had existing sites and venues in place. . the same ones they'll be using 4 years from now. The major difference is. . they're facilities are STILL being used. Aside from the natatorium at Ga Tech or the horse park in Conyers, name one or more facilities still being USED. Not just gathering weeds.
It still pains me to this day to occasionally drive by that tennis center in St Mts. I played a lot of tennis back then. For a while, people used it but slowly activity stopped. No one really knows why. It had the populus around to succeed. I haven't been that way in over a year. It too may be gone. If you can name some of these ACTIVE facilities, I'd like to know of them.
I take no pleasure in damning a city I spent over 40 years in as a young man into my waning years. I wanted the Atlanta O's to shine. They didn't. I'm far from alone in my assessments. What Billy Payne pulled off in getting the IOC to even bring the Os to Atlanta was just shy of brilliant. Unfortunately, the way the games were presented was far from historic. Ask around. It is what it is.
When Sochi happened, I remember hearing tons of complaints of the athletes of the conditions of the place. I don't know where they heard that everything was great.
idk as a russki i can say that it all went down better than expected. They really build up a city from a scratch and since it's very popular resort place most facilities are still in use. some though are crumbling down such as infamous Krasnaya Polyana ( a ski slope that was built on quite a dangerous side of mountain)
@@ibhistory106 congratulations
It's called "Propaganda" and there is a LOT of it in Russia.
Most interesting thing about this video is learning there's someone in Canada named Dick Pound.
dick is a nickname for richard, which is his actual name
For many years there was a Peter Tenpound in the local telephone book. Because it was listed alphabetically kids would call him and ask, "Is it really ten pounds?"
He's been a huge an Olympic official for years and very involved in anti-drug efforts. Your comment is utterly flippant.
The only three times that a country actually gets economic benefit from it are Tokyo 1964, Los Angeles 1984, and Beijing 2008
1984
Calgary did well in 88
Surely London 2012 too
Wasnt 1984 in Sarajevo, Yugoslavia?
I believe Sydney 2000 was also a success.
4:43 don't forget to factor in the fact that Brazil hosted the world cup two years earlier and they were still trying to recover from that one when the 2016 Olympics came.
Even the World Cup does this
Damn Brazil still has enough budget for the world cup?
@@fr0ck360 Brazil hosted the world cup 2 years before the Olympics and weren't even recovered from the cup... So the politicians don't really care much about budgets from the look of it.
@@sajohnson09 jesus no wonder…
The biggest issue is the IOC taking a large percentage of the revenue, leaving the host city with less money than they started with.
No. The IOC has always let the host city take 100% of the revenue from tickets. The IOC takes the large television rights fees and gives a portion (smaller) to the National Olympic Committees around the world
Denver was so smart for withdrawing, however even still there are finger prints all over the region of the games that never were.
As a russian, I can say that the 2014 Winter Olympics really boosted the development of the region. Sochi's tourism potential has continued to grow since 2014. Yes, the Olympics cost an incredible amount of money, but Russia is not a poor country, and hosting the Olympics has cultural and political meaning.
I have read that the 2024 Summer Olympics in Paris will rely heavily on existing venues and will be scattered around the city. 2028 Los Angeles should be fine as the city has 1984 to draw on and has even more facilities, newer facilities and better mass transit than back then. I also have a feeling the next Winter Olympics (Beijing I think) is going to be a huge cash sucking heap of fail on a number of levels.
8:50 Sochi has also probably been the warmest city so far ever to host the Winter Olympics
Sochi's costs were from having to produce artificial snow. The weather did not help in that reguard!
@@annettemalaski1967 Artificial snow was used extensively not only at the 2014 Winter Olympics in Sochi actually but also at the 2018 Winter Olympics in Pyeongchang and the 2022 Winter Olympics in Beijing to supplement natural snowfall and provide the best possible conditions for competition. The production of snow requires low temperatures - so, Sochi proper might be nice and warm but up on the mountains it would've been cold enough for artificial snow to be made .
I’m from Montréal and I knew we would at least win gold in that list!
LA in '84 was smart in how they put the Olympics on. No unnecessary builds or overly expensive displays and they made money on it.
The fact that Sydney was able to use most of the locations 21 years down the track, is a much better option/outcome than a lot of the other locations. The information that was used in this video was rather out dated.
I think the venues can be used for more than sporting events, host concerts, conventions, or even fairs. There is no reason for them to be sitting there gathering dust. Sell the venues to real estate developers and make something from them. I also want to add, that since they have to put their nomination in advance for hosting the Olympics, maybe then they should start saving and building arenas, years in advance that way it won't cost the country any more than it should.
Most places don't have the economics to support those alternatives. In my personal opinion, cities host olympics for one of 2 reasons: to spend money that otherwise the citizens don't want spent, or in hopes of somehow generating enough interest in their city to get people moving there after the games.
In the city I grew up in, for instance, Calgary. When the bid was put in in the '80's all they talked about was how we needed to compete with Banff, Jasper, etc for winter sporting. When they propsed another olympic bid a few years ago, it was to try to force the financing for a new sporting arena that the residents didn't want, just to compete with Edmonton's $200mill arena. Nobody actually wants the olympics for the sake of the olympics.
@@FionaApplewright Ironically, Calgary is one of the few cities to host the Winter Olympics and actually made a profit from it. They made a net profit of $32 million in Canadian dollars
@@TheHuskyK9 yes but it wasn't the true reason they wanted to host.
I blame the IOC for hardly contributing anything for the budget while pocketing a whopping 70% from revenue
Well they pocket ZERO of the ticket revenue. And yes they own the international broadcasting rights. It is their event! Organizing committees should plan judiciously.
In such globalized world they should make it so a city organizes the gymnastics, another the races, archery, football and so on. Even among several neighboring countries.
I think this would be a nightmare for the transportation.
@@dazzler9480 Maybe for fans, because athletes rarely compete in different disciplines, they do participate in different events, like speed runners will surely take part in 400m, and team relay races, but they won't swim or play in their Volleyball team...
And fans are mostly inclined to assist to a certain type of events, their favorite sports.
And in countries with good ground transportation train/bus going to a 100km away city would be a matter of 40-80 minutes. Which will also create revenue for the country as they tour around.
The only Olympics in recent times that isn’t making the country in debt is Beijing 2008 and London 2012 it seems…
No debt from the Atlanta 1996 Olympics and most venues are still being used today
technically Aus Sydney didn't loose any money and maybe gained a little from it the venu is still used till this day for NRL AFL and buisnesses use the area aswell apartments
The olimpic games should have a specific place to hold the olimpics. Maybe 1 place in each side of the world.
*olympic
In Montreal The construction crews were digging holes in the ground and just refilling them, just to waste time and money
I can just imagine what Tokyo will be like. Even worse, they weren't even allowed to have fans due to Covid restrictions.
Living in Japan now, about 2 hours drive to Tokyo city from where I am now. From what I observed, the Japanese government has rolled back a lot of infrastructure expenses for the delayed Olympics. A lot of money went to support the Covid vaccination drive still-ongoing in the country while the Olympics was held. Despite protests from the people to cancel the Olympics due to Corona, current Japan Prime Minister Yoshihide Suga went controversially ahead with the Olympics, for 2 reasons, I think - one is to draw more foreign revenues to recoup losses made during Japan's current recession (as in, before Corona even broke out from Wuhan, China.) Two - and it is an important point to note - this Olympics is meant to boost his reputation when Japan elections comes up in October 2021.
@@rebeccaliew2247 Isn't "Corona" a beer? I know what you meant but it's still funny.
I was honestly flummoxed when Rio was awarded the 2016 games just because of the economic state they were already in at that point. I remember a lot of people having the same sentiment... _what was the IOC THINKING??_
Why don't they allow children to play there?
The IOC wanted a South American Games for the bragging rights. That's why Rio.
The IOC had never awarded a games to a South American country.
I love Japan, but… you might want to add in 2020 Tokyo Olympics. It was so hyped and don’t get me wrong, we were all excited, but you know… Covid…
I think Tokyo 2020 would fit into this list because of only one reason: NO SPECTATORS AND NO FANS. It was and is an economic disaster for Tokyo and for Japan as a whole. Suga will be voted out by the people because they don't allow spectators at ALL of its venues. He would've saved his sorry ass if the organizers allowed those fans, but they didn't, so unfortunately, Tokyo 2020 is nothing more than an embarrassment because it's very boring without fans.
It also has COVID-19 to blame.
@@VicGeorge2K6 Not that, but Japan's slow vaccination rate compared to the United States. COVID or no COVID, the Tokyo Olympics would've allowed fans to be in the stadiums, so long as they were vaccinated in their own countries. Unfortunately, the organizers banned them and it would drastically wipe the economy of Japan.
@@JCEurovisionFan1996 You do realize that Vaccination doesn't prevent COVID right? It only "decrease" the severity of COVID symptoms.
@@JCEurovisionFan1996 doesn't matter, as vaccine can only help preventing at certain degree, especially after first Lambda variant in Japan I doubt it'll be possible to keep Tokyo2020 running at current stage
@@HowToChangeName Fucking lambada variant 😂😂😂 OK kang calm it with the variants. Also did you miss the closing ceremony YESTERDAY
"Montreal really got screwed hard." - Dick Pound.
lol i wish looking through the comments to see if anyone caught that
That's,
whatshesaid
Things have to change in the minds of those in the IOC.They only admit cities as bids for the Olympics, and then happens what we see in this list of “unfortunate events”.There’s an Olympic movement to also admit regions, several cities or even cities/regions geographically close but in different states to be chosen as possible bids to host the summer or Winter Olympics,so the costs can be shared and no city or country has to bankrupt for hosting the Olympics.The region around the Rhin-Ruhr in Germany or the partnership Sjælland ( Denmark )- Skåne ( Sweden) are trying to be accepted as bids to host the Olympics.It’s time for a change , there’s needed an evolution in the way we host the Olympics.
Love the entrance of this video lol ..nice editing Mojo ...Big lol
The dude named Dick Pound lmfao. I'm a 27 year old man laughing like a hyena right now.
As someone from Chicago,Im so glad that we didnt host the Olympic Games in 2016 in hindsight,even though I really wanted them to host it back then. It would’ve been chaos,and would’ve most certainly destroyed our economy for at least a few years.
Are you regretting it because of how Rio 2016 and Tokyo 2020 proved to be bankrupt?
@@JCEurovisionFan1996 I don’t regret it,because we didnt host it. But if we did host it ,we would’ve probably regretted it. Hosting the Olympics isnt really worth it anymore.
@idkAlan ya true. But we can’t change the past now. But I get what you’re saying.
It's never about making money *spoiler alert* you will not make any. It's about the prestige, about showing you can afford it, and showing you aren't afraid to hide what living in there is really like.
One reason why Montreal 1976 cost a fortune was an unexpected increase in security costs which were slapped on immediately after the Munich Massacre at the 1972 summer Olympics. Salt Lake 2002 had the same issue considering those games were less than 6 months after 9/11.
Plus, the mob taking its cut when no one was looking...
was expecting to see tokyo 2020 on this list...
This is why eventually we are going to see a rotating list of a few core cities consisting of even fewer industrialized nationu
I'm sure Japan's gonna take a hit this year
I think it would make more sense to have one location that the Olympics are always held at, and countries can still take turns "hosting" by being the ones in charge of arranging entertainment and ceremonies and things like that.
Still not surprising how much Rio fucked up the games since they literally stole it by bribing the IOC.
Chicago or Madrid would've hosted 2016
Agreed. I think most cities (including the ones in the US) bribe the ioc to get picked.
Pretty sure Tokyo 2021 are NOW the most expensive Olympic Games to date. The costs have been officially under deflated but still are coming in at a staggering 26 BILLION USD.
The Sydney Olympic Park is one of the best and only Olympic facilities still used. Do your research properly.
This is about how hosting the Olympics bankrupts many countries/cities. Not about deserted stadiums, they did that list already
I think you can add Tokyo in this list after the current olympics.. So unfortunate combination of the pandemic and over spending..
Vancouver getting back into the black after 4 years doesn’t sound too bad….
The plan for Paris 2024 is exciting in this sense. Using old venues and temporary structures in the heart of Paris. Using most of the budget to improve transport links that'll be used by the citizens of Paris is cool. But then only time will tell...
At least Paris would hold venues close to its city centre.
Sydney held most of their venues a fair distance away from the city centre, apart from some indoor sports which require less space (such as boxing, weightlifting and table tennis) and sailing on Sydney Harbour. The rowing and whitewater events were farther out, about 45-50 km from CBD.
This is one of the reasons I boycott the Olympics. This and the difference in pay between the athletes and the schmucks that run the thing.
The mere fact u can actually find 10 examples of this is amazing
It looks like they couldn't. Sydney and Vancouver are a major stretch, doing fine and thriving today.
The Olympics can’t be THAT tax draining on a city, are they?
A video listing names of countries that managed to save costs, budgeted their expenses well and that weren't a part of any financial scandal while hosting the Olympic games should be published 😀
Okay so Canada shouldn’t host ever again based on Montreal and Vancouver all in favor say “aye”
Not quite. Calgary put on a great Winter Olympics in 1988.
Montreal no question deserved to be at the top of this list. It was a s--tshow years before the Games even took place. I was surprised to see Vancouver on here, I always thought those Games were tremendously successful. Those real estate issues eventually worked themselves out.
I went to the Montreal Olympic village in ‘93, and at the time it was still an eyesore.
Man olympics sure are costly, but to mention a big thing. I hope these countries can get back to running again.
Cities
@@hellolastname9556
Kinda the same thing but I hope they do
@@thomasm.longiii3752 melbourne 1956, sydney 2000, Brisbane 2032 are in the same country 🇦🇺🤯🤯
@@thomasm.longiii3752 sapporo 1972, Nagano 1998 tokyo 1964& 2020🇯🇵 but of course not every country is like japan and australia
@@hellolastname9556
I know but thanks for saying. I’m just hoping they can get back to normal again soon.
Montréal called it THE BIG OWE. There was disappointment through and through and a condescending attitude all round.
Why is Lake Placid using the Olympic village as a Prison a bad thing? The space is being used and there is no shortage of people trying to get in.
...or out.
As a Brazilian, even before watching I must think of Rio, and also how the World Cup backfired here. So many resources allocated to stadiums and arenas no one ever uses the way it was intended, or at all.
And then, there's the World Cup General Law, basically FIFA corporate guideline passed into law by Congress, revoking some of our legislation and even bringing new crimes into our system of criminal law for the duration of the Cup.
What about Tokyo 2020 they spent more than 26 bill
The $26 billion figure is the debt they owed and unfortunately, it will go higher because of the ban on spectators and low viewership figures.
Saw the title and immediately thought to myself "I bet Montreal 1976 is number one!"
Wasn't disappointed!
In LA I remember the TV ads and other incentives where tied with patriotism . I think other countries had the feeling it was too pro USA . I might be wrong . The relationship between the advertisers may have played a big part in that "success" .
this channel is prone of re-uploading the videos and makes it look like a new one.. good one. .. hahaha
The problem with Olympics is that each venue has to out do the last, making each games more expensive than the last
Each country has to spend VAST amounts of money to turn parts of their city to host hundreds of athletes and thousands of spectators from around the world who all speak a hundred languages or more and have the capability to route all those people to the different events for only 2 weeks or so
They can't just dismantle all of these buildings or structures when it's over either
If they could just use pre-existing structures and modify them as needed and remove the modifications afterwards, that would be so much easier
As it is, i don't see how the Olympics can continue for much longer
The only way I could see it continuing is if there were permanent summer and winter locations. Unfortunately, most countries wouldn't agree to that kind of clause. But what tends to kill everyone's economy is that the Olympic committee kind of forces these cities to build new structures that cost millions-billions of dollars each that house only a few events. Then, after the games, these cities are stuck with these venues and they tend to go unused.
@@dashkatae Does the Olympic Committee tell them to build theses venues or do the individual cities/countries do it on their own?
Before the 1936 summer games, the venues of the Olympics tended to be fairly simple affairs as far as I can tell. Then Hitler wanted to show off the ideals of Nazism, the grandeur of the Reich and the unparalleled abilities of the Nazi "Ubermensch" (He got his ass handed to him on that part)
Ever since that time, Olympic games tried to outdo the last one and each time, those cities are left with "white elephants" that they are sure that they can re-use afterwards but never do
@@dragonweyr44 The Olympics tell them what venues they need. So a swimming area, a place for gymnastics, a place for track and field, a place for equestrian, etc. Those are the demands I'm talking about. If a city wants to go elaborate, that is on them, but the big problem is that if an existing venue isn't up to Olympic code, the city will either need to bring it up to that code or will be forced to build a new venue.
@@dashkatae I get that
You need a track and field area, but do you REALLY need a 120,000 seat stadium to go with it?
You need an Olympic sized pool and diving pool, but do you REALLY need a grand building to house it?
Some expenses I can understand like Bobsled runs, but others I don't like skiing other events that can be played on already built courses
I don't understand the Olympics at all
@@dragonweyr44 It's part of the reason why the IOC changed the way they do things, to allow prebuilt structures to be used. It was a problem before 2020 though as the IOC really did force countries into building venues that were only going to be used during the Olympics and never touched again. The other problem is that a lot of countries assume that once the Olympics are over, they can use the buildings for other things but it seems that rarely is the case. A lot of building just end up abandoned as no one wants to take on the maintenence costs.
Well done for the most part. I think Lake Placid had some issues but it was by no means an economic disaster as very few new venues were built for example, speed skating was still outdoors.
Japan might be on this list next time they do this all because of covid no fans couldn’t really go to the country or attend the games
i think Japan had their expenses lessen because of the repurposed medals which are from the pieces of old electronics.
@idkAlan yes it does but not that quite much. But i think they will repurpose the equipment used. They also saved alot because they would not have to hire people to crowd control due to no actual audience on benches.
The tower and retractable roof of the Montreal Olympic Stadium was completed in 1987. 11 years after the 1976 summer Olympics
Always thought it was so senseless.
How tf does having people run in a circle, jump over a stick, throw a stick, etc cost 9+ Billion Dollars?
How can a country raise 9 billion for games but mental health services are not funded for shit
@@warning2505 the money just magically exists in the bank the moment they are chosen to host it.
I am a Canadian living in Toronto, Ontario. I remember the 1976 Olympics held in Montreal. The construction process was riddled with corruption. Among the rumours was one that claimed that empty dump trucks were circling the stadium contraction site and counted as loads. That plus sheer incompetence drove up the costs astronomically. Yeah, it took 30 years to pay off the debt. No more Olympics for Canada, I hope.
Tokyo must bleed money cause no spectators at the events.