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Npr here on the indicator
We've been keeping a very close eye on the olympic medal tables
Yes
But a special type of medal table
Which city had the most expensive summer olympics
Ever because we want to know why the olympics are so costly
And what can we done about it
Look
This is a multinacompetition for the agages
You got tokyo comving in third place
It's fourteen billion dollars ars in twenty
Twenty
Twenty dodollars
Which you use the the rest this show so tokyo
You have a bronze london twenty told over seventeen billion dollars
That's the silver congrats london and for gold rio twenty sixteen at twenty four billion dollars
What wong is
It is is hostreous amount of money for that gold middle
It is one dollar
Every eight that was earned in riooriginal that year costs were covenent to roughly eighteen hundred dollars for every adulten child living there the bs covered this in twenty hundred exstain rio has cut spending on health care and education
The police have gone unpaid for weeks at a time
And twenty six siy're telling they exspse so much on the olyicicicthey had to cut basic services
Yeah
And they were asking the brazilian government for a bailout
It was a complete mess
Uh paris is also on the expensive side
This year it ranks fifth in olympicgames
Expenses since nineteen
Sixsixwhere where data was available
Every eight seven seven billion dollars
The paris games also also eletremely over budget
Where then double paris is orioriginal bthese costs are getting so high
The international ympicic committee is finding it harder to lock in host cities
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This is the indicator planet money i'm wwilling wong
And i'm daring woods to then the show why are the olympics always are the budget often by billions
We crunch the numbers with a project management specialist we ask whether it ever make sense for a city to host an olympic games
And we learn what could be the olympics original economics enin here at shortwave space camp
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If youare a city thinking about hosting the olympics
First you might want want to read research by professor bent
Fuu ya and is co office
That's what rome 's mared it several years ago
When the city was bidding further twenty twenty four olympics
I think they be debted romani
If the bit dalii
I look activian arguest the mayor of rome mit that word price you know
And
And i couldn't believe is he was holding our study in her hand
And said we are withdrawing that the bit process because i read this report
And rome couldn't fthought this
And i response a billy the dsa aquiisa cananddia water a shshe saying it irresponsible to say yes to this candidacy
So the way the olyicics works is this city susummit bids for their visiplans and budget for a future olympic games
A city is then chosen the international olympic committee pays for some operational costs like the games broadcasting we the house city is on the hook for pretty much everything else the stadiums
The olympic village security and essentially
Whatever the io c asks for the host city has to pay any cost
The yands are the city's responsibility
We find that there's not one instance of the olymps that were delivered to budgets
Which is really unusual
We study a lot of other project times
So the the ympics are unique and since that esesnot find one example of them being delivered to budget
You don't think after the second or third or fourth time of over budget
They might adjust their estimates well
Yeah
But they don't
But that's
That
That ces it's like we simply refused
Then says one big reason for this is something he calls internnal beginner syndrome as in the whole cities or at least
The people who run them are always new bies
That is always a beginner
Who is planning and putting on the olympics
And we know from other projejects
You want have to cts people to do things like this not begginners and a lot of big projects delay their completion date
When things go wrong
But being lay is not an option for the olympics
So instead the cost get bone out the big reason perhaps
The the ggal al eomomic scin of the olympicics is the way
The eletracts are arranged
How the international olympic committee decides which city hosts and how much of the games are gnbe be run with the city pack for micit and any extra costs just imagine if you're going to build a bill
And you can write the speaks
And you don't have to pay the bill
That would be great
I'd have assuming full that have have maybe elevator why not exactly and gold handles and this exactly
What the olympics looked like the isc is aware of this issue of high costs
Rome pulling out of twenty sixteen is just one example in response
The ioc is try to make the games cheaper to host and the first inintitiative lelearning sysydney two thousand they did something they called and noyn sharing program
So the host of the next olympics can sit on mitings and planning for the current olympics
That it's a good idea
You know so
But we don't have to make the same mistakes over and over
Unfortunately though bent on his colleagues research conand des that didn't really reduce costs another the thing
The os is is ying
Ying modular designs this
Means blueprints for stadium
That any country can pick up and use bence supports this
But he hasn't seen evidence
That it's really been pushed to hole cities in a way that can make the olympiciccheaper and easier to plan another isc
The ioc is using to try to low a costs renovating existing buildings
That the first yysee a lot lot with the paris olympmpics
Fcy and tychkon done the epic glass and steel grgrm play
You got a question at the vcide palace
Gogodens precii famous for being a symbol of fifteiness
But it's innovating really cheaper than building from scratch well that scene and maybe not tisaing at thing now is that renovation is nice incentibut
But it's hard to see a step change in practice
It looks great
I think when you watch the olympics in paris
These are olympics that are much more insegrated in the city than others so in that scenes you know
You can say that it works eestically
And it works in the sense of the experience that people get and so on
But when we look you know hard at the numbers
We can actually see that
It's that bigof a saving ultimately bseizes reforms is not driving down the cost of the olympics
So so of that original economic sin misaligned incentives the ioc doesn't really have the incentis
Because they are not paying the bill
So so theare lacking a real view behind this like
Like somebody really hungry
Who needs to save that money and therefore drives the change okay
So those are the huge costs always bigger than expected and giving cities like rio buyers remorse
But what about the benefits like paris use the olympicicas a target day to add a new metrroo line connecting some of its suburbs
Do you think that a big event like the elephs could be a galvanizing event to build infrastructure that might be needed anyway
I don't only think that i mean that's what happens
I mean the cities deliberately using an event like this to a to face crerect things
Then they get a focus their really smart cities
Do what boxcelona did is to use the olympicics as gengenerated for a more wide development scheme for the city one example in bascelona was the city decontaminating and industrial port for the sailing competitions now that area has speeches
That are popular with locals and tourists
Often politicians will take the potential economic flashpoint to the extreme arguing
That the export events like the olympicics a world cops are justified on the basis
That there will be a ton of economic benefits
That may outweigh the costs could it be
That despite the high cost
The olyicics could still be worth it for the sting sting city theodically it could be is
And we do have colleagues who have studied this
They have asked the christian did the benefits actually justify the cost
And on ever they don't
Don't
So the advisis that if youare considering hosting the olympicics
You shouldn't do it for business reasons
You should do it for that
The for what it is the
The great piics a spectacular events you know
And if you are riich enough that you can afford a vent like dead by all means go hiit and do it
But don't do it
Because you think it's good business
We want to have a gigantic party and invite the world
But let's not kid ourselves at the tourism benefits and the economic development benefits are
Are going to out way that it's
It's going to pay for itself
Exactly
And this is very basic sive party
We all have parties and know privately in our families and so on all the time
And they don't think about course benefit ananalysis like on the benefits bigger than the course of the party
We just want to have a party and we pay for yes
But we could have a less expensive party
If we follow more project management principles
For sure
This show was produced by corey bridges
With engineering by neel rouout
It was factchecked by siautz
With editing by patty horsh
He can contendn't edit the show
The indicator is a production of npr
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