Prague to give up 2020 Olympics. Too expensive in this crisis…

In Economy, Entertainment, Sports on June 18, 2009 by Petr Bokuvka Tagged: , , , ,

(c) Reuters via Google

(c) Reuters via Google

Councillors of the City of Prague decided that Prague would drop out from the race to host the 2020 Olympic Games, the news server wrote. Due to the ongoing economic crisis the city receives much less money from tax incomes. According to the news server it should be CZK 2.9 billion. Hosting the Games would be too expensive for the city.

VERY wise move. But it should be noted that “too expensive” does not cover the whole truth. The truth is that the city is FAR from prepared and it would have to build many stadiums and other venues. Not to mention the fact that due to the nature of the events many of them would have to be held in different parts of the country, i.e. in smaller towns that would have EVEN LESS money to contribute to the common projects of building, let’s say… greyhound racing grounds… 🙂

I know it does not match the principle of the Olympic Games, but I think it would not hurt anybody if the upcoming OG (the yet-undecided) were actually awarded to a city that does not need to spend billions, i.e. city that is “almost prepared”… i.e. a city that has hosted the Games before. The financial crisis is going to take some time and it does not seem like the Games are going to be profitable… “the cities that know” will have to deal with it…


2 Responses to “Prague to give up 2020 Olympics. Too expensive in this crisis…”

  1. Prague pulling out because the recession? I think it’s the wrong decision. Building assets, stadiums, etc for the games would boost growth. Here in London, the East End, where the 2012 games will be held, is holding up relatively well because of the tens-of-thousands of jobs the construction and organisation requires. And isn’t 2020, 11 years away? I would hope the global recession is over by then?

  2. I am sure it is, but like I said, Prague has much less to offer for the time being and much more to build and it would NEED the funds which it fears it is going to lack. They had a PWC-esque company do an analysis and its outcomes suggested the same.

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