"Greece’s initial budget for the 2004 games was 4.5 billion euros, but the actual cost of the games quickly doubled that estimate. When all was said and done, the cost of the games was 5 percent of Greece’s GDP, and eight years later, the country hasn’t recovered from the debt. The city of Vancouver has given up on recovering all the money it put into its fancy schmancy Olympic Village condos that were later converted into residential homes. Today the buildings form a ghost town, and city officials are struggling to come up with a way to just break even on them. The Nagano Winter Olympics in 1998 plunged the city into a recession, with the tax burden of the games ending up costing around $30,000 per family in the city. And none of these financial disasters compare to Montreal (Greece pending). Their Olympic stadium wasn’t finished until 11 years after the games ended, and it took no less than 30 years to pay down the debt incurred to host the 1976 Olympics.” #CrackedClassic
5 Things They Don’t Want You to Know About the Olympics

"Greece’s initial budget for the 2004 games was 4.5 billion euros, but the actual cost of the games quickly doubled that estimate. When all was said and done, the cost of the games was 5 percent of Greece’s GDP, and eight years later, the country hasn’t recovered from the debt. The city of Vancouver has given up on recovering all the money it put into its fancy schmancy Olympic Village condos that were later converted into residential homes. Today the buildings form a ghost town, and city officials are struggling to come up with a way to just break even on them. The Nagano Winter Olympics in 1998 plunged the city into a recession, with the tax burden of the games ending up costing around $30,000 per family in the city. And none of these financial disasters compare to Montreal (Greece pending). Their Olympic stadium wasn’t finished until 11 years after the games ended, and it took no less than 30 years to pay down the debt incurred to host the 1976 Olympics.” #CrackedClassic

5 Things They Don’t Want You to Know About the Olympics

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    I’m studying events management and of you ever want to look at terrible effects if events the Olympics are perfect 👌
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  29. thejessgill reblogged this from apsies and added:
    Ditto.