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by Holger Preuß (Author), Wladimir Andreff (Contributor), Maike Weitzmann (Contributor)
About the Author
Prof. Dr. Holger Preuß is Professor of sport economics and sport sociology at Johannes Gutenberg-University, Mainz, (Germany).
Prof. Dr. Wladimir Andreff is Professor Emeritus at Paris I Panthéon Sorbonne (France).
Maike Weitzmann is a PhD student at Johannes Gutenberg-University, Mainz (Germany).
About this book
In this open access book the cost and revenue overruns of Olympic Games from Sydney 2000 to PyeongChang 2018 from eight years before the Games to Games‐time are investigated to provide a base for future host cities. The authors evaluated the development of expenditure and revenues of the organizing committees to operate the event, and the investment of taxpayers’ money for Olympic venues (non‐OCOG budget). The study is based on data collected worldwide and is currently the most advanced study on cost and revenue changes of Olympic Games.
Contents
- Cost and Revenue Overruns of Olympic Organizing Committees
- Cost Overruns of Olympic Sport Venues
- Reflection on Reasons That Cause Cost and Revenue Overruns
- Lecturers and scholars in political, economical, and sport science
- Practitioners in project management, decision makers from sport governing bodies, politicians, the public authorities and taxpayers
Table of contents
1 Introduction 1
2 Literature Review 7
2.1 Cost Overruns in General 7
2.1.1 What are Cost Overruns? 7
2.2.2 Cost Overruns in Mega Projects and at Olympic Games 8
2.2 Comparative Issues 16
2.3 Olympic Games and Mega Sports Events 18
3 Methodology 21
3.1 Availability of Financial Data from the Olympic Games 23
3.2 Preparation of Data 27
3.3 Quality of Data and Building of Categories 34
3.4 Problems in the Preparation of Data 35
3.5 Building of OCOG and Non-OCOG Budget Categories 37
4 Results I 43
4.1 Sydney 2000 43
4.1.1 SOCOG Revenue 46
4.1.2 SOCOG Expenditure 49
4.1.3 Sydney 2000 Non-OCOG Costs 50
4.2 Salt Lake City 2002 52
4.2.1 SLOC Revenue 54
4.2.2 SLOC Expenditure 55
4.2.3 Salt Lake City 2002 Non-OCOG Costs 57
4.3 Athens 2004 60
4.3.1 ATHOC Revenue 62
4.3.2 ATHOC Expenditure 64
4.3.3 Athens 2004 Non-OCOG Costs 66
4.4 Turin 2006 70
4.4.1 TOROC Revenue 72
4.4.2 TOROC Expenditure 73
4.4.3 Turin 2006 Non-OCOG Costs 75
4.5 Beijing 2008 76
4.5.1 BOCOG Revenue 76
4.5.2 BOCOG Expenditure 78
4.5.3 Beijing 2008 Non-OCOG Costs 80
4.6 Vancouver 2010 80
4.6.1 VANOC Revenue 81
4.6.2 VANOC Expenditure 83
4.6.3 Vancouver 2010 Non-OCOG Costs 84
4.7 London 2012 86
4.7.1 LOCOG Revenue 89
4.7.2 LOCOG Expenditure 91
4.7.3 London 2012 Non-OCOG Costs 93
4.8 Sochi 2014 96
4.8.1 SOOC Revenue 98
4.8.2 SOOC Expenditure 99
4.8.3 Sochi 2014 Non-OCOG Costs 101
4.9 Rio de Janeiro 2016 104
4.9.1 COJOPR Revenue 105
4.9.2 COJOPR Expenditure 107
4.9.3 Rio 2016 Non-OCOG Costs 108
4.10 PyeongChang 2018 108
4.10.1 POCOG Revenue 108
4.10.2 POCOG Expenditure 110
4.10.3 PyeongChang 2018 Non-OCOG Costs 112
4.11 Summary of Costs and Revenues of the Olympic Games 114
5 Results II 117
5.1 Revenue Corridors by OCOG Category 117
5.2 Expenditure Corridors by OCOG Category 128
5.3 Non-OCOG Cost Corridors at Olympic Games 134
5.4 Non-OCOG Cost Corridors at Olympic Winter Games 138
5.5 Summary of Costs and Revenues of Olympic Games Seperated by Categories 141
6 Reflections 145
6.1 Theoretical Explanations for Olympic Cost Overruns 145
6.1.1 The Neo-Institutionalism Theory and Cost/Revenue Overruns 147
6.1.2 Auction Theory: The Winner’s Curse 154
6.1.3 Public Interest Theory vs Chicago Theory: Market Regulation to Favour Public Interest 155
6.1.4 Evolution Theory and Planning Fallacy Theory 156
6.2 The Evolution of Olympic Budgets and their Economic Consequences 157
6.2.1 Evolution of Olympic Budgets 157
6.2.2 Economic Consequences: Cost Overruns, Revenue Overruns and Deficit 160
6.3 Practical Recommendations to Reduce Cost Overruns 162
6.4 Summary and Outlook 170
References 173
Series: Event- und Impaktforschung
Length: 212 pages
Publisher: Springer Gabler; 1st ed. 2019 edition (December 17, 2018)
Language: English
ISBN-10: 3658249951
ISBN-13: 978-3658249953
Springer__Cost and Revenue Overruns of the Olympic Games 2000-2018.pdf
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