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By Zak Rose, Friday, November 20, 2009
The announcement that the 2016 Olympics will be held in Rio de Janeiro was met with wild celebration by locals. Cities all over the globe compete furiously to bring the Olympics home, and the residents of Rio were eager to welcome the world to their doorstep.
Aside from the tremendous prestige generated by having global attention for several weeks, people welcome the Olympics because of anticipated revenue from corporate sponsorship, the selling of broadcast airtime to advertisers, and increased long-term tourism due to a raised profile. These perceived economic advantages make it seem as though winning an Olympic hosting bid is like winning the lottery.
Unfortunately, the Olympics are far more likely to harm the average resident of Rio than to help. Construction of giant mega-stadiums and the gentrification of large urban areas in preparation for the games’ visitor surge will displace many, ultimately widening the gap between the rich and the poor.
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