Speaker A

There is no doubt that hosting the Olympics boosts civic pride. When the attention of two-thirds of the world’s population is focused on a host city, the event becomes an advertising phenomenon. This has some evident short-term benefits for tourism, real estate values and businesses. However, pride in a city aroused by holding such an event is fleeting and in the long run the buildings erected for the occasion, such as stadiums and sporting venues, become little more than reminders of the past. Even if tourists continue to visit out of curiosity, admission fees are not enough. Without major events going on at former Olympic venues, over the years, the majority of them become ‘white elephants’ whose owners have to pay enormous maintenance bills, which usually far exceed the revenue gained from renting the properties out. Obviously, there are a few exceptions when efficiently managed facilities bring considerable profits, but more often than not the Olympic venues face rather grim prospects.

Speaker B

The International Olympic Committee is enthusiastic about bids that will have a lasting impact. That’s why they’ve always looked favourably on cities that locate Olympic Villages in impoverished areas. For example, the Barcelona Olympics were used as a means to completely overhaul the port and coast of the city, by creating an artificial beach and waterside cultural area that became a major tourist attraction. Olympic Villages release office and retail premises after the event, and accommodation built for athletes can be designated as low- budget housing. And while many large-scale developments would eventually be completed without the Olympics, the need to provide roads and transport, etc. by a set deadline means that there is far more pressure to get the projects done. More financial resources are also available as city councils get extra money in order to complete everything on schedule. So, the way I see it, hosting the Olympics promotes overall quality of life in a host city.

Speaker C

When the idea of hosting the Olympic Games is promoted, we often hear that the event will attract tens of thousands of spectators to the host city, and if things go according to plan, the influx of visitors will continue into the indefinite future. But the picture isn’t necessarily so rosy. In fact, it turns out that the Olympics often tend to drive people away. Many potential tourists decide to avoid former Olympic host cities for a few years as they anticipate large crowds and high hotel rates. In fact, many economists believe that local organizers routinely exaggerate the benefits and underestimate the costs of organizing the Olympic Games. Hosting the event is often presented as a straightforward road to riches and economic success. This is rarely the case, however, and while it’s true that hotels and restaurants are usually packed during the Games, department stores and cultural venues with no direct connection to the event tend to lose customers and can suffer significant losses.