It feels like the dust has only just settled on last year’s 2016 Summer Olympic games in Rio de Janerio, Brazil, whilst the International Olympic Committee has been deciding who will host the next installment of the games.
It has been announced that Paris and Los Angeles (L.A) have both been successful in their bids, with Paris taking 2024 and L.A hosting in 2028.
Timeline for Donald Trump
President Donald Trump is pleased with the decision, saying:
“For the first time in a generation, the Olympics are coming back to the United States. And I am proud to support L.A 2028.”
2024 summer games – who was initially in the running?
Back in 2015, the International Olympic Committee (IOC) announced the five cities that were in the running: L.A, Rome, Paris, Budapest and Hamburg.
Of these five, two cities had hosted the games twice before. Paris played host to the Summer games in 1900 and 1924, whilst LA had previously hosted the games in 1932 and 1984. The 1984 games were characterised by the boycott of then-USSR countries after the boycott by the US of the 1980 Moscow Games. As well, Rome held the 1960 games before losing out to Tokyo for the 2020 bid.
But the other two cities, Hamburg and Budapest, had never hosted the games before.
Five cities becomes two
Budapest, Hamburg, and Rome all ended up dropping their bids. Hamburg was the first – the majority of the city’s residents voted against the £7.9bn project on the basis that it was wasteful.
In Budapest, the situation was the same. It actually spawned a political movement, named Momentum (with no affiliation to Corbyn’s Momentum supporters) led by students and young professionals who collected more than 250,000 signatures to force a referendum on the issue.
Over in Italy, the country’s National Olympic Committee (INOC) suspended the bid on the recommendation of Rome’s mayor, Virginia Raggi. She said taking on the cost of an Olympic bid was “irresponsible” for a city struggling to emerge from years of corruption and poor public services.
This leaves only L.A and Paris.
The committee makes the decision
A decision wasn’t expected until the IOC’s annual meeting in September, but it looks like they’ve jumped the gun and made the announcements already.
3 Things That Will Change the World Today
It is unsurprising that the games would go to Paris first and then L.A after the US city made the case that 2028 would be the right time for the games to return to the States.
Funding plans have been altered to help the cities play host
With some many cities dropping out of the bids due to the cost of hosting the games, the IOC has announced some changes to help the next hosting cities, according to the L.A Times.
Usually, host cities begin preparations seven years in advance but do not receive contributions from the IOC until two years before the Olympics.
However, the committee has agreed to give L.A $180m in advance to cover the organising committee’s costs for an extra four years and to put more money into youth sports in the city.
This is different to the usual “legacy” benefits Olympics cities usually achieve after hosting the games.
The city’s mayor, Eric Garcetti, said:
“I want something for the people of L.A now. I want the excitement to build.”
The city has pledged to improve its Metro railway lines and the Los Angeles International Airport to get ready to host the event in 11 years time.
Free download worth over $5000Download our 2018 Technology, Media and Telecoms Predictions Report
In this report, we look at the 30 big tech themes for 2019, identifying winners and losers for each theme. This report will impact all industries helping:
- CEOs/Senior Staff: in all industries understand the disruptive threats to their competitive landscape
- Investors: Helps fund managers focus their time on the most interesting investment opportunities in global TM