(edit title) Political Scenario ... Could this happen? Options

[byke]

With the Euro facing new problems from the latest Greek elections aswell as a shift in plans for the terms by the new French President. Could we see a knock on effect on with European sports fans, unable or unwilling to spend great amounts of money at the London 2012 olympics as expected?

But here is the real question ...
Could an Olympics "Flop"?

And if it could how much of an effect could it have on the local economy afterwards?
Or is it just a pebble in the ocean?

[gplusa]

I don't think that anyone has made a profit out of hosting an Olympic Games. The level of increased public debt generally offsets the amount of extra private sector revenue. Probably easier for governments not to host an Olympics games, and just borrow money to give to hotel/restaurant operators. Same result. I recall reading a report a few years back which said that 12 months after hosting the 2000 Olympic Games, the Australian tourism/trade economy was the same as it had been 12 months prior to. Minimal long term benefits.

[Puffin]

Well given that the Olympics starts in just 2 months and most sports fans have already bought their tickets and paid for travel I think they will still come

Also given the wel publicised ticket shortages for "genuine" fans I think any surplus tickets will be rapidly snapped up - didn't Spain sell off its unwanted tickets a few weeks ago?

[jack sprat]

With the Euro facing new problems from the latest Greek elections aswell as a shift in plans for the terms by the new French President. Could we see a knock on effect on with ... (show full quote)

With the Euro facing new problems from the latest Greek elections aswell as a shift in plans for the terms by the new French President. Could we see a knock on effect on with European sports fans, unable or unwilling to spend great amounts of money at the London 2012 olympics as expected?

But here is the real question ...
Could an Olympics "Flop"?

And if it could how much of an effect could it have on the local economy afterwards?
Or is it just a pebble in the ocean? ... (hide full quote)

Regardless how much is or isn't made during the games, it's normally reckoned that the benefits to the area continue for years after the event itself, as was most definitely the case with Barcelona.

[Rick Methven]

According to the travel trade in the UK, the total number of overseas visitors expected to go to Britain in July/August 2012 is going to be 15% down on 2011. Potential visitors who are not going to the games have been put off by big increases in hotel prices, supposed shortage of hotel rooms and traffic chaos. Brits are booking to go abroad in greater numbers than last year to get away from the Olympics.

Last year Cameron first of all said that the royal wedding was good for Britain, but when there was a drop in GDP it was because of time lost over the wedding. At the moment he is saying the Queens jubilee and the Olympics are going to boost GDP. I wonder what is the next downturn is going to be blamed on

[Rick Methven]

And now the greed of landlords in London steps in

Landlords 'evicting tenants' to make Olympic profit

[gplusa]

The same thing happened during the recent Rugby World Cup, Rick. The increase in short stay visitors who came specifically for the Cup was offset by a reduction in the regular long stay (and larger spending) tourists and by the local population who took the opportunity to leave the country for a holiday. Those who did come were so pissed off by the inflated hotel and restaurant prices that it ended up having a negative PR effect on long term tourism.

[Hamsterdam]

How I miss my fellow pessimistic Brits, but good to know there are a few here in Sweden

The Euro status and Greece/France have no bearing whatsoever on the London Olympics and stories of people trying to ruthlessly make money from such a great event are nothing new, now or in the future.

Jack Sprat has got it right, the benefits to the country can not be counted by money alone. Infrastructure improvements in East London have been immense and the legacy left behind, not to mention the lifted spirit of the country will be there for all to see.

Sit back and watch the greatest show on Earth.