When I first heard of Boston bid for the 2024 Olympics, I was sitting at a bar in the Chicago airport, waiting for my flight to Boston. Almost everyone in the bar started cheering, with the patriot pride seeping out of the international airport. I was filled with honor for a place I consider a second home. This feeling lasted until I landed in Boston and got on the bus to my friend’s apartment. I crammed myself into the overly stuffed bus, looked around, and started imagining what things would be like in the city during the Olympics. Things would become chaotic; for anyone who has ever tried getting around when there are at least two major games going on can understand how it would be every single day during the Olympics. Thus follows the discussion of the costs and benefits of Boston hosting the 2024 Olympics, and whether it is worth it in the end.
The justification for all cities eyeing the Olympic bid was economic development, but the truth is, there is little evidence that supports significant economic development in the cities that have hosted major sporting events in the past. A New York Times article published on the World Cup in Brazil discusses the likelihood of a city benefitting from such high scale events. Most cities don’t benefit much, and this is becoming increasingly true as the costs of hosting such events are getting higher and higher as each occurs. When analyzing the costs, it is also important to acknowledge who will bear these costs. Most Olympic Games are funded by the taxpayers, so it becomes a public affair. There will no doubt be an ongoing debate over whether the Boston Olympics would in fact be funded publicly or privately. If the taxpayers pay for the event, it would be essential to ensure that the true Bostonians, and others in the state, are not off put by the occurrence of the event.
It appears that most economists have reached an agreeable conclusion that in the average case, hosting of the games will not make a significant economic difference when taking into account the costs. As Victor Matheson, an economist at Holy Cross, said, “It’s like a wedding, it won’t make you rich, but it may make you happy”. Since the city of Boston won’t get any wealthier by the occurrence of the event, Boston is not deserving of the bid. The city, being relatively small in comparison to other cities vying for the event, will have to put an excessive amount of money to be able to house and transport the influx of tourists. Those who live and work in the city will have to deal with a much worse rush hour, while paying more out of the pocket, and seeing very few immediate payoffs. Considering the current infrastructure and size of Boston, there are other major cities more equipped, and therefore able to benefit more from the event than Boston.