OLYMPIC HOSTING PUT COUNTRIES IN DEBT: A Case Study of Three Countries Who Struggled After Hosting the Olympics

There have been several instances where countries have faced financial losses after hosting the Olympic Games. Here are a few examples:

Montreal 1976: The 1976 Summer Olympics in Montreal were plagued by financial difficulties and ended up being a major financial burden for the city. The games ended up costing $1.5 billion, which was more than seven times the original budget. Montreal ended up taking 30 years to pay off the debt from the games.

Athens 2004: The 2004 Summer Olympics in Athens were also beset by financial problems. The games ended up costing more than $15 billion, and the Greek government was left with a significant debt burden.

Rio de Janeiro 2016: The 2016 Summer Olympics in Rio de Janeiro were also plagued by financial issues. The games ended up costing around $13 billion, and the Brazilian government was left with a significant debt burden.

In conclusion, hosting the Olympic Games can be a major financial undertaking, and it's important for countries to carefully consider the potential costs and risks before deciding to bid on the games.