Economic Struggles of the Rio Olympics | The Odyssey Online
Start writing a post
Politics and Activism

Economic Struggles of the Rio Olympics

It's not all fun and games

28
Economic Struggles of the Rio Olympics
Javier Tovar

While athletes are preparing for the Summer Olympics just 5 months away, Rio is preparing as well. Plagued with the worst economic crisis the country’s seen in 20 years, it seems that the Brazilian government is under more pressure than the athlete themselves.

Brazil was awarded the Summer Games seven years ago, when the country was experiencing a prosperous economy, and political stability. Today, the country faces inflation and rising unemployment, with an economy that shrank 3.8% last year.


Furthermore, President Dilma Rousseff faces impeachment, and the country is still dealing with repercussions from the Petrobras scandal, a bribery scandal at the state-run oil company.

Patrick Gillespie, contributor to CNN, writes about the economic and political turmoil Brazil faces.

“The Petrobras scandal has been a major source of pain on all levels for the country,” Gillespie said. “Politicians, company executives, and billionaires have been arrested during a massive investigation that’s embroiled all levels of the government.


The economic and political problems are a large reason that the Rio Olympic ticket sales are astonishingly low. Just over 50 percent of the Olympic tickets, and 15 percent of the Paralympic tickets have been sold.

The Brazil economy explains the low domestic ticket sales, as citizens are low on disposable income, but there are several other factors that affect international sales. Ticket sales are affected by fears of high crime rates, terrorism, and the Zika virus.

Meanwhile, citizens are concerned with the $4.5 billion of public money spent on the games. Andrew Zimbalist, an economist, studies the impact of hosting mega- sporting events. Aside from a few cases, hosting the Olympics is never an economic success.

“In the other cases, the amount of money that’s spent in order to build the venues and build the infrastructure and operate the games far exceeds any revenue that they brought in, either in the short run or the long run,” he says.

For more on the economic effects on hosting the Olympics:

http://theodysseyonline.com/berry-college/the-aban...

The Brazillian government is still hopeful that ticket sales will increase. Ricardo Leyser, sports minister for the games, mentions a new advertising campaign aimed at ticket sales. The government might also buy tickets to the Paralympics to give to public school children throughout the country.


Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Featured

15 Mind-Bending Riddles

Hopefully they will make you laugh.

184730
 Ilistrated image of the planet and images of questions
StableDiffusion

I've been super busy lately with school work, studying, etc. Besides the fact that I do nothing but AP chemistry and AP economics, I constantly think of stupid questions that are almost impossible to answer. So, maybe you could answer them for me, and if not then we can both wonder what the answers to these 15 questions could be.

Keep Reading...Show less
Entertainment

Most Epic Aurora Borealis Photos: October 2024

As if May wasn't enough, a truly spectacular Northern Lights show lit up the sky on Oct. 10, 2024

11098
stunning aurora borealis display over a forest of trees and lake
StableDiffusion

From sea to shining sea, the United States was uniquely positioned for an incredible Aurora Borealis display on Thursday, Oct. 10, 2024, going into Friday, Oct. 11.

It was the second time this year after an historic geomagnetic storm in May 2024. Those Northern Lights were visible in Europe and North America, just like this latest rendition.

Keep Reading...Show less
 silhouette of a woman on the beach at sunrise
StableDiffusion

Content warning: This article contains descriptions of suicide/suicidal thoughts.

When you are feeling down, please know that there are many reasons to keep living.

Keep Reading...Show less
Relationships

Power of Love Letters

I don't think I say it enough...

455171
Illistrated image of a letter with 2 red hearts
StableDiffusion

To My Loving Boyfriend,

  • Thank you for all that you do for me
  • Thank you for working through disagreements with me
  • Thank you for always supporting me
  • I appreciate you more than words can express
  • You have helped me grow and become a better person
  • I can't wait to see where life takes us next
  • I promise to cherish every moment with you
  • Thank you for being my best friend and confidante
  • I love you and everything you do

To start off, here's something I don't say nearly enough: thank you. Thank you, thank you, thank you from the bottom of my heart. You do so much for me that I can't even put into words how much I appreciate everything you do - and have done - for me over the course of our relationship so far. While every couple has their fair share of tiffs and disagreements, thank you for getting through all of them with me and making us a better couple at the other end. With any argument, we don't just throw in the towel and say we're done, but we work towards a solution that puts us in a greater place each day. Thank you for always working with me and never giving up on us.

Keep Reading...Show less
Lifestyle

11 Signs You Grew Up In Hauppauge, NY

Because no one ever really leaves.

24902
Map of Hauppauge, New York
Google

Ah, yes, good old Hauppauge. We are that town in the dead center of Long Island that barely anyone knows how to pronounce unless they're from the town itself or live in a nearby area. Hauppauge is home to people of all kinds. We always have new families joining the community but honestly, the majority of the town is filled with people who never leave (high school alumni) and elders who have raised their kids here. Around the town, there are some just some landmarks and places that only the people of Hauppauge will ever understand the importance or even the annoyance of.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments