With the road to LA28 being paved, cities around the world finalize their bids, which are driven by motives stretching beyond the sporting spectacle itself. The idea is that hosting the Olympics is an honor of great potential benefit associated with it, despite its being extremely expensive.
Pride and National Image
One major reason countries would want to host the Olympics is to develop national pride and enhance their image on the international platform. Take the instance of the Paris Olympics 2024, which emphasized the active culture and resilience amid political unrest France is facing. This was the opportunity to be part of French people under one same pride that united citizens during that moment, which echoes the bigger picture effect that hosting the Games adds to national morale. Similarly, past host cities, like Barcelona and Tokyo, used the Olympics to regain their position on the world stage and generate infrastructure that would endure for generations.
Economic Development and Infrastructure
The financial cost of hosting the Olympics can be crippling in the short term, as the costs almost always end up being far higher than the projected budgets. Still, the potential for long-term economic benefit is too high to ignore. New infrastructure, such as transportation systems and sports venues, can induce further development. For instance, it was Tokyo’s 1964 Games that paved the way for extensive improvements in transport infrastructure through the construction of the Bullet Train. In contrast, costs can be heavy. Greece slipped into a financial crisis as it struggled to pay off billions of dollars in debts run up hosting the 2004 Olympics. Rio de Janeiro missed the 2016 financial targets for its Olympics.
Tourism and Trade
This can also help in improving tourism and trade. The 1992 Olympics in Barcelona gave the tourist profile a drastic makeover, turning the city into one of the top destinations in Europe. Similarly, the 2008 Olympics in China helped facilitate entry into the World Trade Organization, opening up new trade opportunities. These long-term gains thus show how hosts could cash in through their exposure to the world.
The Road to LA28
With the Los Angeles Olympics 2028 in the future, it remains banked on the exploitation of existing infrastructure to avoid falling into the financial pitfalls of previous host cities. As LA keeps this balance between cost and opportunity, it can set a precedent for future hosts. As nations like India weigh their bids for 2036, they shall look at the successes and challenges of past hosts to help navigate the complex decision of whether to embrace this global event.
Although the task of hosting the Summer Olympics is both extremely expensive and a logistical nightmare, potential returns in citizens’ pride and global image, together with long-term economic benefits, make the Olympic opportunity quite attractive to many countries around the world. As the Road to LA28 unfolds, future hosts will be watching closely to get a feel for what the ultimate return on their investment is.
The Sportz Planet Desk,
Atharva Shetye
