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Olympic Host Cities and Economic Impact

One day I was having discussion with my colleague during lunch time about the impact of 2012 Olympics in London on City's economy. Specially, the East London. The discussion wasn't finished as neither of us had empirical data readily available at that moment to see if Olympic organisations had any Positive impact on the organising city if at all.

So here are few links I googled to get to know if there were any positive impacts on host city's economy based on previous Olympic events. The discussion on this blog on New York Times suggests negative impact. Montreal's Olympic [1976] debt of $2.7 Billion was paid in 2005. Barcelona [1992] was neither in profit nor in loss but public debt went up to $ 6.1 billion. Same history was repeated at Sydney, Athens Olympics too.

However, in case of Barcelona, Olympic helped the city to register the city on world tourist map. Moreover, Olympic event can be beneficial for the host cities on investments in terms of new Roads, Bridges and other infrastructure developments. But what will happen to empty hotels, guest rooms once games are over, is anyone's guess.

The Olympic Village is now used by Georgia Tech as dormitories. Additionally the investments that the city made near the village and Georgia Tech's campus allowed the once blighted neighborhood surrounding Georgia Tech to redevelop into a major activity center in the middle of the city used by students, faculty and staff. These improvements also benefited nearby Georgia State University.
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