Tessa McCann

Olympic Numbers Don't Add Up Summary

Economy. The promise that no public money will be spent on the Boston Olympics is unrealistic

according to Zimbalist's article. Ideally this is how the cost is suppose to be spread out. The cost of

operating the games is to be paid for by revenues, construction costs are to be covered by private funds,

and the federal government is expected to pay 100% of the security costs. However, Zimalist presents a

few very important questions for his readers to ponder on. Firstly, Why would a US company build an

Olympic stadium that will be torn down? and secondly, Why has no company stepped forward and

declared its intention even to explore this opportunity?.

Expectations. It is rare that the economical predictions before the Olympics are accurate to the reality

after the games are over. For instance, Boston intends to build a temporary stadium that seats 60,000

people and plan to make 1.15 billion dollars in ticket sales. In London, a stadium that seated 80,000

people was built and only 990 million dollars was made in ticket sales. As the titles suggest, the

numbers don't add up. Another famous Olympic assumption is that the Games will bring more tourism

to the host city, but according to Zimbalist that is not the reality. In the summer of 2012, London saw a

8% decrease in the amount of tourists compared to the year before. Beijing saw even more devastating

results, tourism decreased by 20% after the Olympic Games. These numbers do not show much

promise for anything different to happen to Boston.

Author. Andrew Zimbalist received a B.A. from the University of Wisconsin and a Ph.D. from

Harvard University. He has been a professor of economics at Smith College since 1974. He is a known

consultant for the sporting world and has published 22 books, including Circus Maximus: The

Economic Gamble Behind Hosting the Olympics and World Cup.

References.

FACULTY. (n.d.). Retrieved May 20, 2015, from

http://www.smith.edu/economics/faculty_zimbalist.php
Zimbalist, A. (n.d.). Olympics numbers dont add up - The Boston Globe. Retrieved May 19, 2015,

from http://www.bostonglobe.com/opinion/2015/03/20/olympics-numbers-don-

add/BqrAaenp4tKK3Q7ASU5OrJ/story.html