Everything Everywhere Daily

Hosting the Olympics

Jan 8, 2025

The International Olympic Committee made a bold move by awarding both the 2024 and 2028 Games to Paris and Los Angeles. This decision highlights a growing reluctance among cities to host the Olympics due to economic strains and political challenges. The podcast dives into the evolution of the Olympics, from local events to extravagant global spectacles. It also discusses the declining interest in hosting, with many cities shying away and the idea of a permanent venue gaining ground.

19:02

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Quick takeaways

The significant financial burden and risks associated with hosting the Olympics have led to a dramatic decline in cities willing to bid.

Proposals for permanent Olympic venues or rotating hosts aim to mitigate financial strain and maintain the Games' viability in the future.

Deep dives

The Changing Dynamics of Hosting the Olympics

The shift in willingness to host the Olympic Games can be traced back to the mounting costs and the financial risks involved. Initially, hosting the Olympics was seen as an honor and a prestigious opportunity for cities, often piggybacking on existing events like the World's Fair. Over time, the financial burden of hosting these games escalated dramatically, with some cities facing crippling debt decades later, such as Montreal’s $7 billion cost for the 1976 Olympics. This has led to a significant decline in bids, with Los Angeles and Paris being awarded the next games primarily due to a lack of other cities expressing interest.

Intro

2min

The Evolution of Olympic Hosting: From Local Events to Global Spectacles

14min

The Future of Olympic Hosting: A Dwindling Interest

2min

In July 2017, the International Olympic Committee did something unprecedented. It awarded not one, but two cities Olympic games at the same time.

The 2024 games to Paris and the 2028 games to Los Angeles.

However, this decision wasn’t a stroke of genius. It was an act of desperation.

That is because no one really wants to host an Olympics anymore.

Learn more about the economics and politics of hosting the Olympic games and how it has radically changed over time on this episode of Everything Everywhere Daily.

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