Sunday, August 29, 2004

ATHENS OLYMPICS: A REPLAY OF MONTREAL 1976?

With the last day of the Olympics in Athens, it could be interesting to speculate about the increasing cost of hosting the games. Kyle James of Deutsche Welle is asking: Cash Cow or Money Pit?

Analysts say the evidence is just not clear on whether hosting the Olympics brings a city an important or lasting economic boost. Thanks to new funding strategies and revenue sources, the dark high-deficit days of Montreal will most likely remain in the past. (DW-World.de)


I want to hear from my Canadian readers how it is to still pay the bill for games in Montreal in 1976, via a tobacco tax. According to the Underground Royal Commission:

The 1976 Games ran $1 billion deficit. The city of Montreal still owes $300 million.