International cities reluctant to host 2024 Olympics


Of the five cities receiving bids for the 2024 Summer Olympics, Hamburg and Rome have already withdrawn.

That leaves Los Angeles, Paris and Budapest.

>> Read more trending stories  

The bid for the 2022 Winter Olympics was awarded to Beijing after Stockholm and Krakow, Poland, withdrew their bids.

Why the reluctance to host the games?

Budgetary concerns remain the primary deterrent. Security costs alone can rack up to billions of dollars, not to mention the time and money that goes into planning the games and constructing massive infrastructure projects, including thousands of hotel rooms to accommodate athletes and guests.

The return, according to many major economists, doesn't nearly offset the cost.

"The games overrun with 100 percent consistency. No other type of mega project is this consistent regarding cost overrun," researchers from Oxford's Saïd Business School wrote in an academic paper in 2013. "Other project types are typically on budget from time to time, but not the Olympics."

Public funding for the Olympics seems to be a model of the past, with Los Angeles relying on privatized financing and using existing sports stadiums as venues in its proposal to the International Olympic Committee.

With this model, the California city would actually make a profit.


Reader Comments ...


Next Up in Nation World

Police: Two shot during high school football game in Florida
Police: Two shot during high school football game in Florida

Two people were shot at a practice football game in Palm Beach, Florida Friday night according to the Palm Beach County Sheriff's Office. “Deputies have arrived on scene and are currently gathering more information. We do not believe this is an active shooter incident,” Spokeswoman Teri Barbera told the Palm Beach Post. “Suspect...
Avoid low-carb diets if you want to live longer, study suggests
Avoid low-carb diets if you want to live longer, study suggests

Previous studies have shown how a low-carb diet can help with weight loss, but cutting such foods might also shorten your life, according to a new report.  Researchers from Brigham and Women's Hospital in Boston recently conducted a study, published in the Lancet, to determine the long-term effects of restricting carbohydrates.  To do...
ESPN will not air national anthem before Monday Night Football
ESPN will not air national anthem before Monday Night Football

ESPN will not air the national anthem before Monday Night Football games, network officials said Friday.  >> Read more trending news  "We generally have not broadcasted the anthem and I don't think that will change this year,” network president Jimmy Pitaro told Axios. “Our plan going into this year is to not broadcast...
Restaurant receives backlash for hanging pride flag on storefront
Restaurant receives backlash for hanging pride flag on storefront

A restaurant owner in Dorchester, Massachusetts, received a one-star review on Yelp for having a pride flag hanging outside his establishment. Born in Italy, Nino Barbalace's American dream was to obtain U.S. citizenship and open up his own restaurant.  Barbalace eventually achieved both dreams, and now calls Zia Gianna on Dorchester Avenue his...
Recall Roundup: Hair dryers, blending containers and more
Recall Roundup: Hair dryers, blending containers and more

Dangerous hair dryers and blender cups are among the new recalls announced by the Consumer Product Safety Commission.  Xtava is recalling nearly a quarter of a million Allure and Allure Pro hair dryers after 18 people reported burns — one case was severe — and two people reported a mild electrical shock. There are 193 reports of the...
More Stories