Increasing financial and ecological risks have led to a decline in global interest in hosting the Olympic Games, as reflected in the sentiments of residents in Cortina d'Ampezzo amid ongoing preparations for the winter Olympics.
The article discusses the declining global enthusiasm for hosting the Olympic Games, highlighting sentiments from residents in Cortina d'Ampezzo as they prepare for the upcoming winter Olympics. Gildo Siorpaes, a former Olympic athlete, notes the transformation of his hometown into a less desirable place due to the implications of the event. Unlike past editions, which created a frenzy for prestige, current host cities are increasingly considering the financial burdens and ecological consequences of such large-scale events.
Since the Montreal Olympics in 1976, very few Games have ended with a profit, with a notable exception in Los Angeles in 1984. The author points to the Athens Olympics in 2004 as an example that contributed to Greece's debt crisis and is characterized by the so-called white elephant effect, where expensive venues remain underutilized. This situation reflects a broader trend; cities no longer see the hosting of the Olympics as a pure honor but rather as a financial and logistical challenge.
The overall decrease in interest indicates that many cities are questioning the long-term benefits of hosting such prestigious events. Derived from recent experiences, there is growing urgency around the need for sustainable practices in large-scale sports events, suggesting an impending shift in how the Olympics may be organized in the future. Municipalities increasingly weigh the costs against the benefits of hosting the Games, leading to a reconsideration of their participation in future Olympics.
