Olympic host cities invest heavily in venues and infrastructure in preparation for sixteen days of competition. In addition, they often undertake or accelerate projects designed to enhance the appeal of the city. This paper surveys the long-term effects of these investments on the cities that hosted the 1988-2008 Olympic Games, as well as the institutional legacy on the Olympic movement. A unique contribution of this paper is its inclusion of the impact on host cities for the Winter Games- a topic often overlooked. The paper reveals an apparent causal relationship between fiscal discipline, clear objectives, careful planning, and success.
|Keywords:||Olympic Games, Legacy, Winter Games, Summer Games, Venues, Infrastructure Investment, Calgary, Seoul, Albertville, Barcelona, Lillehammer, Atlanta, Nagano, Sydney, Salt Lake City, Torino, Beijing|
Professor of Economics and Finance, Business Administration Division, Seaver College, Pepperdine University, Malibu, CA, USA
Associate Professor of Accounting, Business Administration Division, Seaver College, Pepperdine University, Malibu, CA, USA