Costs
In 2002, the Auditor-General of New South Wales reported that the Sydney Games cost A$6.6 billion, with a net cost to the public between A$1.7 and A$2.4 billion.
It has been estimated that the economic impact of the 2000 Olympics was that A$2.1 billion has been shaved from public consumption. Economic growth was not stimulated to a net benefit and in the years after 2000, foreign tourism to NSW grew by less than tourism to Australia as a whole. A "multiplier" effect on broader economic development is not realised as a simple "multiplier" analysis fails to capture is that resources have to be redirected from elsewhere: the building of a stadium is at the expense of other public works such as extensions to hospitals. Building sporting venues does not add to the aggregate stock of productive capital in the years following the Games: "Equestrian centres, softball compounds and man-made rapids are not particularly useful beyond their immediate function." In the years after the games, infrastructure issues have been of growing concern to citizens, especially those in the western suburbs of Sydney. Proposed rail links to Sydney's west have been estimated to cost in the same order of magnitude as the public expenditure on the games.
Read more about this topic: 2000 Summer Olympics
Famous quotes containing the word costs:
“It costs more to maintain ten vices than one virtue.”
—H.L. (Henry Lewis)
“To exercise power costs effort and demands courage. That is why so many fail to assert rights to which they are perfectly entitled—because a right is a kind of power but they are too lazy or too cowardly to exercise it. The virtues which cloak these faults are called patience and forbearance.”
—Friedrich Nietzsche (1844–1900)
“It is commonly said by farmers, that a good pear or apple costs no more time or pains to rear, than a poor one; so I would have no work of art, no speech, or action, or thought, or friend, but the best.”
—Ralph Waldo Emerson (1803–1882)