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Bloomberg reporter Hugo Miller discusses Paris 2024's efforts to host a profitable Olympics, learning from the successful 1984 Los Angeles Games. The future of the Games hinges on cost control and private sector contributions, with Paris aiming for sustainability and economic efficiency.
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Quick takeaways
- Paris 2024 Olympics prioritize cost-efficiency and sustainability through existing infrastructure and temporary facilities.
- Lessons from Los Angeles 1984 Olympics highlight the significance of cost-conscious planning for future Olympic Games.
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The Olympics' History of Budget Challenges
Throughout history, the International Olympic Committee has faced challenges with the budget and management of the Olympic Games. Instances like the murder of Israeli athletes in Munich in 1972 and fiscal disasters in Montreal and Denver led to reevaluating the extravagance and cost overruns of the games. The 1984 Los Angeles Olympics, led by Peter Uberoth, set a new standard for cost-efficient games without excessive spending, turning a sizable profit of $250 million.
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