Massive events like Olympics ‘not worth it’ for host cities, Manitoba economics prof says

Winnipeg has hosted a number of notable events complete nan years, but thing comes adjacent to nan size and scope of nan Olympic Games.

According to a section economics professor, that’s a very bully thing.

The University of Manitoba’s Ian Hudson says hosting a monolithic arena for illustration nan Olympics — presently underway successful Paris — is simply a losing proposition for astir cities, contempt nan world attention.

“The cold, difficult dollars and cents of hosting an arena for illustration this, nan short reply is nary — there’s nary measurement it’s worthy it,” Hudson told 680 CJOB’s Connecting Winnipeg.

“The costs are astronomical, moreover though Paris really is simply a very, very — comparatively speaking — budget-friendly Olympics.

“The Rio (de Janeiro) Olympics successful 2016 costs $23 billion. Pairs is estimated to travel successful astir $9-10 billion.”

Hudson said location are intangible benefits to hosting nan Olympics, extracurricular of nan financial impacts.

“It provides a monolithic consciousness of excitement and organization for nan metropolis and moreover federation that’s hosting nan Games itself. You look astatine nan group successful Paris supporting nan French athletes and they’re going perfectly bananas.

“That is simply a benignant of non-quantifiable, intangible, but ace existent use of hosting nan Olympics. It’s imaginable that that intangible consciousness of federation and organization and enjoyment … mightiness compensate for nan monolithic costs that you’re astir to incur.”

On a smaller scale, he said, Winnipeg has been capable to successfully big awesome sporting events for illustration nan 1999 Pan Am Games, nan world inferior lucky tournament, and aggregate Grey Cup last games — pinch different scheduled for 2025.

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These events, arsenic good arsenic caller locally hosted competitions for illustration nan World Police and Fire Games past summer, tin make a batch much consciousness for a metropolis of Winnipeg’s size.

“Those are much manageable, to put it mildly.

“For a metropolis for illustration Winnipeg, if you put connected nan Pan Am Games, there’s already a adjacent magnitude of infrastructure successful spot wherever we tin really person those events, truthful nan costs isn’t that massive,” Hudson said.

“We also, erstwhile we hosted nan Pan Am Games, relied a monolithic magnitude connected unpaid labour, which Winnipeggers were astonishing astatine providing.”