It has been conventional wisdom to deem the Olympics as the ultimate winner's curse. That is, it cost more to the host city/country to put on the games than the economic benefits that are promised by the prospective bid committees. However, this article seems to indicate otherwise:
http://www.guardian.co.uk/uk/2009/apr/14/olympic-games-economics-exports
The interesting thing is that not only do winners achieve some long-term economic and social gains, but those cities that unsuccessfully bid see a 30% increase in exports. As was the case with the Beijing Olympics, it can be used as a signal to the world community that the country is ready to engage and is open for business.
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