Rio Gets 2016 Olympic Games

[Dulce]

Rio Gets 2016 Olympic Games

The Olympics will head to Brazil for the first time in 2016, after Chicago was eliminated in the first round of voting.

Rio De Janeiro Wins Right To Host 2016 Olympics - San Antonio Sports News Story - KSAT San Antonio

[Jason R]

Sad face ((((((((((

[joballer]

looks like I'm making a trip to the best nude beach in the world in 2016

[james_austintx]

Happy <----------------

Obama in Copenhagen for Olympics Vote, but Economic Benefits of Hosting Are Few - Real Time Economics - WSJ

There are actually lots of reasons not to play host. The most apparent one is that the positive economic effects tend to be negligible — if they even exist.

Chicago’s proposed budget is about $4 billion, according to the city’s bid book. Plus another $1 billion or so for infrastructure that’s slated to be privately financed. But don’t be surprised if that price tag doubles, triples or worse — it almost always does.

Athens said hosting the games there would cost $1.6 billion. It ended up being about $16 billion. Beijing predicted $1.6 billion but current estimates say that’s more like $30 to $40 billion. And the 2012 games in London, originally expected to cost less than $5 billion, may now come with a price tag of around $19 billion, Zimbalist noted in a paper he co-wrote with the University of Alberta’s Brad R. Humphreys.

The revenue side usually isn’t much prettier. The Chicago bid team expects the games will pump $22.5 billion into the Illinois economy with $13.7 billion of that centered in Chicago. But an independent analysis found that the games are more likely to generate around $4.4 billion.