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FENNO: Olympics are a great thing, but being the host isn’t worth the excessive price
Question of the Day
Confined to the exclamation-studded pages of a news release, the idea of the Washington area bidding for the 2024 Summer Olympics sounds downright reasonable.
Plenty of hotel rooms! Experience hosting big events! Loads of sports infrastructure! Economic impact that’s greater than the expense!
That’s part of the pitch the newly formed DC 2024 exploratory committee made Tuesday. Daniel Snyder came out in support. So did Ted Leonsis. All that’s missing, really, is a cuddly, confounding mascot like the one-eyed cartoonish creations inspired by steel girders that represented last summer’s London Games.
Move past the hazy, hyped outlines of bringing the world’s largest 17-day party to town, though, and a reality absent from any news release emerges.
Hosting an Olympics, for all the glitz, is a quick ticket to massive debt, unused facilities and touted economic benefits that never seem to materialize.
There’s the exclamation point.
In Athens and Beijing, dozens of venues constructed for those cities’ Olympic adventures sit crumbling, unused or propped up by public money.
Athens estimated the games would cost $1.6 billion. Actual price? $16 billion. Beijing spent at least $40 billion. London cut that to $20 billion, still four times the original estimate. Montreal finally paid off the $2.7 billion debt from hosting the 1976 Games in 2006.
That’s the context for the Washington committee’s initial estimate of putting on the games for — yes, this is serious — $4 billion to $6 billion. The group relies on the abundance of facilities within a 40-mile radius of Washington, but sidesteps the nature of the competing for an Olympics. This isn’t an atmosphere that breeds fiscal sanity like the stripped-down approach making do with facilities already in place. Think slapping a new coat of paint on RFK Stadium and — presto! — an instant Olympic venue would impress the notoriously fickle International Olympic Committee? No, this is an unrestrained contest to impress, out-do and outbid the world’s leading cities.
That doesn’t even touch on the specialized venues required. Mountain biking. Slalom kayaking. Beach volleyball. Shooting ranges. The list goes on.
Every Olympic bid inevitably returns to the promise of an economic boon that’s been repeated (and debunked) so often as to make the pledge cliche. But that’s how the Olympics are sold.
One study showed the Sydney Olympics actually had a negative impact on Australia’s economy. Other studies revealed that businesses not directly tied to the event can actually be hurt by the ensuing chaos.
When Atlanta hosted the Olympics in 1996, hotel occupancy fell from the previous year. The Journal of the American Planning Association noted Olympics-sparked damage to Atlanta’s convention, restaurant and, yes, even hotel business that followed the games. Tourism in Britain dove 5 percent last August during the games. Any increased employment ends up as a short-term spike that disappears when the Olympic Games do.
Fulfilling those lofty economic promises is as difficult as discerning the provenance of the Fuwa, Beijing’s mysterious collection of five mascot-like characters that earned 100 episodes of their own animated television show.
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