Fool's Gold?
Rio 2016 has almost bankrupted its host city and growing costs have led several others to pull out of hosting future events, so can you ever make a profit from the Olympic Games?
The 2016 Olympic Games have almost bankrupted Rio de Janeiro, and other world cities are pulling out as potential future hosts because of spiralling costs. Does it ever make economic sense to stage what is often dubbed the greatest show on earth?
Angry protests greeted the Olympic torch as it entered Rio, with many residents furious about the cost of an event that they fear will leave them no lasting economic or social legacy.
Boston, Oslo and Hamburg are just some of the cities that have pulled out of hosting future summer or winter Olympics. It has led some to suggest a major downsizing to safeguard the very future of Olympic hosting, at least in western democracies.
But are these fears justified? Ed Butler is joined by Brazilian-born journalist Juliana Barbassa, Allan Brimicombe from the University of East London, economist Andrew Zimbalist from Smith College in Massachusetts, and Simone Perillo from Rome 2024.
(Photo: A protester calling for a boycott of the Rio 2016 Olympic Games. Credit: Christophe Simon/Getty Images)
Last on
More episodes
Previous
Clips
-
![]()
Where "white elephants" don't matter
Duration: 01:53
-
![]()
"Rio is broke"
Duration: 01:50
Broadcasts
- Sun 7 Aug 2016 02:06GMTBBC World Service except Australasia, News Internet & South Asia
- Sun 7 Aug 2016 04:06GMTBBC World Service Australasia & South Asia only
- Sun 7 Aug 2016 10:06GMTBBC World Service except News Internet
- Sun 7 Aug 2016 13:06GMTBBC World Service Australasia
- Sun 7 Aug 2016 14:06GMTBBC World Service West and Central Africa
- Sun 7 Aug 2016 22:32GMTBBC World Service except News Internet
In The Balance Podcast
Sign up to receive every programme automatically
Podcast
-
![]()
In the Balance
The biggest financial stories and why they matter to us all.
