Olympic Debt Left Over
In the lead-up to the Vancouver 2010 Winter Games, there's a sense of uneasiness surrounding the costs and repercussions of hosting the elite sporting event.
It's likely the sentiments are similar in London, where they're already reporting a cost of £9-billion, almost four times the initial figure of £2.35-billion for the 2012 Summer Olympics. They're now planning to slash spending by downgrading the £400-million media center to a mere 'giant tent'. The dollar-value of Olympic legacies is one debate, while measuring the intangible benefits is another. But it's been said and done every four years, the baton gets passed from city to city, so how detrimental can the Olympic hangover really be? BCBusiness Online looked at five recent Olympic games to see if their legacies are dollar and podium-worthy.
Beijing, China (Summer Olympics, 2008)
Olympic Slogan: “One World, One dream”
Price Tag: With a 'go big or go home' attitude, China spent a whopping $43-billion.
The Good: China made a strong come back as the “Middle Kingdom” they once were, showing their proud post-Mao transformation as a global economic power. Making a bold statement about the achievements possible from the strengths of uniting 1.3 billion people, Beijing staged the most extravagant Games in Olympic history. Moments moving the entire world, including Michael Phelps "8 golds in ’08" and Usain Bolt's inhuman like speed, as well as victories capturing Canada's heart, like B.C.'s Carol Huynh winning our country's first-ever wrestling Olympic gold, will forever belong to the legacies of the Beijing Olympics.
The Bad: The 500-million dollar iconic centerpiece of the Beijing Olympics, the National Stadium or better known as the “Birds Nest,” is empty nested.
Some sources report the stadium only has one event booked for 2009 – an opera on the one-year anniversary of the opening ceremonies, and it’s planned the 91-thousand seat stadium will be transformed into a shopping center. Beijing has little use for the state-of-the-art ‘Water Cube’ facility, and other unused venues will likely be demolished, while massive commercial and residential developments built for the Games are empty.
Obstacles: - Socio-political disruptions: Human rights activists, environmental critics, and "Free Tibet" protesters didn't make it easy for the Chinese to enjoy their moment of glory. News of China's questionable relations with Darfur was punctuated with Steve Spielberg withdrawing from his role as artistic adviser for Beijing 2008, stating "China is not doing enough to end human suffering." The Torch Relay, an element of the Olympic Games traditionally symbolizing peace, was also met with violent protests en route Beijing. - Environmental– The city was brought to a virtual standstill in order to reduce air pollution in the city to manageable levels to accommodate the athletes. Factories were shut down, and over one million cars were banned for the duration of the Olympics. China was also faced with some of the most horrific natural disasters of 2008, most notably, the earthquake of Sichuan province just three months before the big show.
Overall Standing: Gold for presentation, putting on one heck of a show. But the lustre of Olympic gold is quickly fading with extraordinary costs of the lavish spectacle lingering and lack of re-use strategies for venues, putting sustainability of Olympic Games into question.
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