Olympic Gold



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Four years have passed since Michael Phelps' accolades at the Olympic games in Beijing. Phelps was immediately branded as America's golden boy and ranking among the greatest Olympians of all time.Subway was eager to count both he and Nastia Liuken among their cavalcade of sports stars. While I'm on that subject, let me applaud those Olympic stars for capitalizing on their success because unlike spectator sports like baseball or basketball, your window of opportunity to cash in on your popularity from the Olympics is much, much smaller.

Posted by ryanblair in Economics, International, Jacksonville Ad Agency | July 30, 2012

For many countries, hosting the Olympics is not just a source of pride, but a shot in the arm economically. This, however, also incurs a hefty cost in the construction of infrastructure and employment of security personnel, etc... China spent 40 billion dollars on the 2008 games. If you look at most of the venues familiar to many from those games now, they look dilapidated, vacant, and are a constant eyesore in central Beijing.

This got me thinking, how many former sites still have pristine facilities that take advantage of the quality workmanship that is associated with international competition. Does Atlanta's Olympic Park still have the same draw that it once did, or is it too in shambles? Do the Olympics offer the financial boon they once did, or is it merely a money pit, that gives your nation international exposure? Food for thought.

For those of you who haven't seen the photo before, there is a picture taken in 2012 of the baseball stadium facilities that once stood in central Beijing. They were constructed 4 years ago specifically for the games, and now seem deserted and occupied by stray dogs.

Tagged as economics of the olympics,jacksonville ad agency,mad men,olympics before and after,ryan blair