Leaked: Critical Reasons Why No One Wants To Glamor The Olympic Games Anymore
Olympic bids hit low as a few countries want to host the games,the desire to glamor no longer exist in many cities in the world. Cities have been abandoned slightly months after the olympics.
From the beginning 125years ago, the summer olympics have grown to encompass near 12,000 athletes from over 200 countries and not just non democratic that have had trouble keeping costs under control.
The modern Olympics has become an exceptional expensive affair and only made worse by the Covid 19 pandemic.
Hist cities for the summer games must have 40 sporting venues an olympic village to house the athletes, coaches and trainers, massive international media center, media village, transportation and parking to facilitate movement and many more. The cost generally exceeding $1.5billion.
According to oxford researchers The Tokyo 2020/21 Games illustrate well the phenomenon of cost overruns. Tokyo was awarded the hosting rights in 2013 with a bid of $7.3 billion. Yet a government audit has shown the total cost to approach $30 billion. The IOC will contribute just $800 million of international television money and $500 million of international sponsorship revenue, for a total of $1.3 billion, to help defray these costs.
Tokyo simply woed on badluck as games being saddled by the global covid 19 pandemic which allowed only the participants and not the spectators who mostly contributed to income generated.
The IOC committee are now unthinkably awarding to cities without the bid. In September 2017 Los Angeles were awarded the 2028 summer games without even making a call.
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