By Andrew Zimbalist
The numbers are wonderful: China spent $40 billion to host the 2008 summer time Olympic video games in Beijing and Russia spent $50 billion for the 2014 Sochi wintry weather video games. Brazil's overall expenses are idea to were up to $20 billion for the area Cup this summer season and Qatar, as a way to be the positioning of the 2022 global Cup, is estimating that it'll spend $200 billion. How did we get the following? And is it worthy it? these are one of the questions famous activities economist Andrew Zimbalist solutions in Circus Maximus: the industrial Gamble in the back of webhosting the Olympics and the area Cup. either the Olympics and the area Cup are touted as significant fiscal boons for the international locations that host them, and the contest is fierce to win web hosting rights. constructing nations specially see the occasions as an opportunity to face within the world’s highlight. Circus Maximus strains the trail of the Olympic video games and the area Cup from noble sports to shows of extra. It exposes the hollowness of the claims made by way of their deepest boosters and govt supporters, all illustrated via a chain of case stories ripping open the stories of Barcelona, Sochi, Rio, and London. Zimbalist reveals no internet financial earnings for the international locations that experience performed host to the Olympics or the area Cup. whereas the rich may perhaps revenue, these within the center and decrease source of revenue brackets don't, and Zimbalist predicts extra outbursts of political anger like that obvious in Brazil surrounding the 2014 global Cup.
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Extra info for Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup
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Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup by Andrew Zimbalist