The Cost Of Gold

By Polly Sanders || Is hosting the Olympics a worthy expenditure?

On one hand, the Oympics bring in an immediate influx of tourism and cash flow, and some cities (like Barcelona in 1992) are able to use the Olympic exposure to transition into a more permanently enhanced tourism industry. Other cities spend so much to host the Olympics that they have no hope of ever recouping the cost.

China exceeded all expectations in its efforts to dazzle the world – a thinly-veiled attempt to proclaim the nation as the new world superleader. (I should know…. I reported live from the 2008 Beijing Olympics on the FITS bankroll. Wait … nevermind. I have never gotten paid a dime for all my hustle…).

In fact, Canada’s lame-o opening ceremony only served to remind me of how awesome its Chinese counterpart was.

But in its quest to shine, China spent an astonishing $43 billion on its Olympics. When you consider the average annual income for a rural Chinese worker is around $325, that is a reckless amount of money to spend on a few weeks of festivities.

Further, even though the event is long over, the venues remain … empty.  Word on the web is that the $423 million Bird’s Nest has been nearly untouched since its use at the opening ceremony.

Apparently, the stadium is too big for traditional venue use.  You know, you would think a country of 1.3 billion could easily fill a 91,000-seat stadium, but I guess they are too busy working for sub-menial wages to have any fun.  All-in-all, China appears to have no hope of balancing the books on their Olympic venture.

But, enough talk about China. That was sooooo 2008 and we are in the twenty-teens now.  Let’s talk about Canada … which doesn’t like to dwell on its Olympic past, either, as it hosted the Vancouver Games after taking thirty years to pay off the debt from the 1976 Montreal games.

Canada is expected to spend about $6 billion this go-round, which is $37 billion less than China, but still a lot of money. Particularly for Canada, too.  I mean how much maple syrup are they going to have to sell to pay for this? Sounds like some Vancouveroos will be living off their moose kills for a while.

Vancouver spent $1.1 billion on athlete accommodations alone. Seriously … $1.1 BILLION? Are you kidding? Why do the athletes need virginal dwellings? Are they too good for the Marriott? It is the Olympics for goodness sakes! The competitors are known for the superhuman endurance!

I, for one, propose we let them sleep in the snow.  That should give the competition some extra edge.  You have to survive to compete.  I like it. And if you lose a limb to frost-bite, no worries, amputees were cleared for Olympic competition a few years ago.

Anyway, enough problem-solving, while the Olympics gives the host city a little place in the sun, there are some serious questions as to the profitability for the host country. Really, we should all give a little thumbs up to Chicago for losing the bid.   America is broke enough as it is.

On an more festive note, Sic’s leading lady, the incomparable Lindsey Vonn, is one race into her 2010 Games and already living up to the hype. Lindsey won gold on the downhill with a time of 1 minute 44.19 seconds, which is pretty impressive considering last week we weren’t even sure if she would be competing.

That girl is fast, which I know is music to Sic’s sicky sick ears.

The US of A as a whole is still doing well. We are still the medal leader, but the Germans are a close second.

Reporting live (from my living room this time …)