Oslo has pulled out of the running for the 2022 Winter Olympics after the Norwegian government advised against hosting. That leaves Beijing, China and Almaty, Kazakhstan as the only remaining cities involved in the bidding process. Researchers have known for years that hosting large sporting events like the Olympics always costs more than expected and always yields less revenue and useful long-term infrastructure than estimated. Now voters and politicians in democratically elected countries are starting to realize the same thing. Potential host cities began dropping out of the bidding process for the 2022 Winter Olympics like crazy early in 2014. …read more
Source: Business Insider
