ercles on 19/2/2010 at 23:54
Quote Posted by Fragony
You see when people come to your town they bring money, it's the real economy. Are you absolutely sure you are knowledgeable on the subject, events like this are money-makers, it's also a great event for some networking.
I do consider myself fairly knowledgeable about sport because I spend a horrendous amount of my life watching the stuff. I'm quite sure that with big events like the Olympics and the Soccer World Cup, the host nation generally sees very little of the tv rights, and only fractions of a lot of the endorsement deals for the olympics. From memory the Sydney Olympics left the city with marginally better infrastructure, and some short term benefits to tourism. Because you can run more events in city locations, I do think that the summer olympics are inherently better advertisements for the host city.
You still haven't explained (apart from increased revenue to local business, although you can discount the room and board for athletes and officials considering that's all handled by huge companies) where the fuck all this money comes to the taxpayer. TV viewing and commercials doesn't really trickle back to the treasury (apart from the CBC, and I'm not sure how much coverage it gets for the olympics). Endorsements would likewise largely go towards the IOC, with a fraction (maybe, it's hard to find good info on the deals on the net) given back to the host nation. Of course there are intangibles that can't be measured in dollars such as a rise in tourism, but in the current economic climate there's no guarantee that these will follow through.
Fragony on 20/2/2010 at 02:58
although you can discount the room and board for athletes and officials considering that's all handled by huge companies)
Oh, how many rooms do they need, just a few nice ones. What about the whole world visiting.
Starrfall on 20/2/2010 at 03:09
Don't be silly Frags no foreigners are spending any money at the olympics (
http://www.tradingmarkets.com/news/stock-alert/v_international-spending-on-visa-at-2010-olympic-winter-games-approaches-us-10-million-in-one-day-791009.html) let alone 5.7 million in one day
Quote:
For the first six days of the Games (12 to 18 February 2010),
international Visa cardholder spending in British Columbia reached US$38.3 million, which is an increase of 65 percent compared with the same period last year (US$23.2 million). The number of transactions was approximately 370,000, which is an increase of 42 percent over the same period last year when there were approximately 260,000 transactions.
Wednesday, 17 February 2010, saw the biggest Visa spenders coming from the United States (US$5.7m), followed by China (US$625,000), the United Kingdom (US$391,000), Japan (US$346,000) and Australia ($289,000). Visitors from these five countries accounted for more than 75 percent of all international spending on Visa cards on this date.
Accommodation, travel, entertainment and retail sales accounted for more than 95 percent of the record number of Visa transactions on Wednesday at merchants accepting Visa in British Columbia.
Fragony on 20/2/2010 at 03:11
Visa is US/us?
CCCToad on 20/2/2010 at 05:38
Quote Posted by Namdrol
Fragony is relying on the false premise of trickle down economics.
Trickle down economics work fine, as long as you're giving money out instead of cutting taxes. When the U.S gave a massive bailout to the financial sector, the theory was that the money we gave them would trickle down and help the individual consumer in debt. Thanks to them, we are all better.
Scots Taffer on 24/2/2010 at 23:44
Why are we not talking about the massive amount of wounded pride in Canada over that Ice Hockey match.... Damn.
*Zaccheus* on 25/2/2010 at 11:02
Because Canada just crushed arch-rivals Russia 7-3 in their quarter final match? :thumb:
Sad to see the Swedes go out, was hoping for a Finland - Sweden final.
Morte on 25/2/2010 at 11:16
A Finland-Sweden final would've been fun, but not as fun as listening to the howls of agony coming across the pond after Sweden's made an ignoble early exit.
Scots Taffer on 25/2/2010 at 12:37
Yeah, just caught the highlights of the Canada Russia match. It was fun. Another US Canada grudge match for the Final would make very interesting viewing.
ercles on 26/2/2010 at 12:38
Indeed it would, especially considering how close both their matches in the world juniors were this year.
