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Toronto 2024 Olympic Bid (Dead)

Can an economic argument be made? Don't we have every facility necessary for a B-level multi-sporting event? Playing devil's advocate here.
 
Can an economic argument be made? Don't we have every facility necessary for a B-level multi-sporting event? Playing devil's advocate here.
Nope. Operational and scurity costs far outstrip ticket sales and sponsorship. Tourism is worse off because it scares away regular visitors. It's a big black hole.
 
Nope. Operational and scurity costs far outstrip ticket sales and sponsorship. Tourism is worse off because it scares away regular visitors. It's a big black hole.
What was the approximate Pan Am operating deficit? Also, how much was the City on the hook for?
 
What was the approximate Pan Am operating deficit? Also, how much was the City on the hook for?
http://www.auditor.on.ca/en/content/specialreports/specialreports/2015panam_june2016_en.pdf

Operating costs were $990 million and Games revenue was $194. We could have fixed a lot of social housing or started a decent chunk of transit with that $800M we threw away.

The three levels of government kicked in $1.6B for capex and op losses and the province ponied up another $735M for the athletes' village.
 
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Tourism is worse off because it scares away regular visitors.
Agreed, even locals like myself intentionally booked their vacations so to be away that time, and we told all visitors to stay away during the Games. The province and city didn't help with their road closures, special lanes on the highway that'd get you fined in you used them, etc. The organizers made it sound like getting around the city is going to be chaos - who'd want to visit that?
 
http://www.auditor.on.ca/en/content/specialreports/specialreports/2015panam_june2016_en.pdf

Operating costs were $990 million and Games revenue was $194. We could have fixed a lot of social housing or started a decent chunk of transit with that $800M we threw away.

The three levels of government kicked in $1.6B for capex and op losses and the province ponied up another $735M for the athletes' village.
Wow, I had no idea they were such a money pit. I completely agree we have way better uses for $800 million.
 
There's been a trend of very few cities even bothering to bid for the games anymore, so I doubt they will ever come to Toronto. Nobody wants to bother with the risk. That ship has sailed.
 

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