Hosting the Olympics
...s. The chance to showcase a city to a worldwide audience becomes a job for some cities. The Olympic attractions can boast the economic and social benefits of hosting the two-week media craze. Or in many case cause the city to feel overwhelm which alternately bring about enormous debt. You only have to look at Montreal’s Summer Olympic event in 1976 to see how badly the games can hurt a city. Mayor Jean Drapeau promised Quebecers that the Olympics would not cost taxpayers a cent. However, the financial disasters of the 1976 games just recently stop costing Quebec. The debt suffer was just paid off in 2002 - 26 years after the games. The overall cost for hosting the games was originally estimated at $310 million, but the real number jump to $1.5 billion. The financial problems of the Montreal Games left many nations cautious of hosting the Olympics. So much so that Los Angeles's bid for the 1984 Summer Olympics went unchallenged. But although the financial dangers, future host cities, including L.A. and Atlanta, proved that the Olympics can in fact leave a positive turn around for the city. The 1984 Los Angeles Olympics put on the first privately funded games and made a profit of $223 million. Since winning the bid to host the 1996 Olympic Games, Atlanta has ranked highly on many published surveys of top cities. Fortune ranked Atlanta first in its list of the Bes...