The International Olympics Committee (IOC) is responsible for selecting a host city seven years prior to the games. During a rigorous selection process lasting two years, The IOC evaluates the candidates cities’ proposal and their ability to finance the games. Hosting the Olympics involves enormous expense- the 2008 Beijing Olympics, for Example, cost $43 billion. Expenditure includes the construction of stadia, infrastruction Improvements, and direct operating costs, such as athlete housing and security. Proponents believe that the outlay is justifiable, as the Olympics stimulate regeneration create jobs and increase tourism and media attention. They also bring unquantifiable “ benefits, such as prestige and ’’feel good factor”. However, detractors counter that the 17-day event rarely returns a profit, typically runs over budget, and leads to higher taxes for locals. Montreal, for example, took 30 years to pay off the debt it incurred by hosting the Winter Olympics in 1976. Furthermore, state of-the-art venues-such as Beijing’s $500 million Bird’s Nest-o often stand empty after the closing ceremonies finish. While The last three summer Olympics have left their host cities with huge debts, a successful Games can transform a city. Improvements made to Barcelona before the 1992 games created an enduring tourist destination
