Olympic Games: The Price of Glory - [Business Breakdowns, EP.176]

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Today we are diving into the economics of the Olympics. It's a timely episode with the Paris Games ongoing right now and the economic reality for host cities is extremely poor. It's estimated that Paris is going to spend $9 billion for these 2024 games and in return, they'll generate revenue somewhere in the mid-single-digit billions. Our guest is Andrew Zimbalist, author and economics Professor at Smith College. Andrew brings us behind the curtain to share more about the IOC, the bidding process for the Olympics, how that has changed over time, and what has led us to this period of time where cities are spending so much for so little in return. It's a really fascinating discussion and…