Scroll to the top

{{ subpage.title }}

Olympic dispatch: Business as usual despite pandemic, geopolitical risks

Olympic dispatch: Business as usual despite pandemic, geopolitical risks

Last week I wrote about why hosting the 2022 Winter Olympics in the shadow of Covid, diplomatic boycotts, and a fraught geopolitical environment was a risky bet for China. But now that the Beijing Games are firmly underway, I have to say they are going pretty well for the host.

On the pandemic front, China has thus far been effective at containing infections within the Olympic “bubble.” Sporting events have been only minimally disrupted. Authorities also seem to be succeeding at keeping said bubble tightly sealed and quarantined from the general population, key to ensuring the sustainability of the country’s zero-Covid policy should an outbreak pop up.To be sure, most people (including the Chinese!) are still feeling blasé about these Olympics. Last Friday’s opening ceremony drew 43% fewer TV viewers than the 2018 Pyeongchang Winter Games. But the same could be said about the 2021 Tokyo Summer Olympics, also underwhelming but hardly scandalous. Public interest in the Olympics has been on a steady decline for many years. Beyond this trend and the lack of crowds to cheer on the athletes, though, we haven’t seen any significant Covid- or politics-related disruptions to the Games. That’s a win in China’s book.

Read moreShow less
Paige Fusco

The Graphic Truth: Olympic champs of budget overruns

With a current budget of $3.9 billion, the upcoming Beijing Winter Olympics will be relatively cheap by modern standards for the Games. The cost of Tokyo 2020 was almost twice the initial budget, and doesn't even count infrastructure spending. Indeed, cost overruns are a given for the Olympics, which since 1960 have always gone over budget — roughly by 173 percent on average. Given that national governments end up footing most of the bill, it's no surprise that in recent years fewer cities have competed to host the Games, and that Brisbane's 2032 bid was unopposed. We rank the last 16 Olympics by how much their final cost exceeded their initial budget.

If You Ain’t First…

If You Ain’t First…

I had a quiet moment at breakfast on Sunday and came across a fascinating study as the Olympics closing ceremony played in the background. From the abstract:

This paper investigates the effects of competition outcomes on health by using U.S. Olympic medalists' lifespans and medal colors as a natural experiment. Whereas the life expectancies of gold and bronze medalists do not differ significantly, life expectancy of silver medalists is about 2.4 and 3.9 years less than these former, respectively. These findings are readily explainable by insights from behavioral economics, psychology, and human biology, which suggest that (perceived) dissatisfactory competition outcomes may adversely affect health.

The authors find that Olympic silver medalists on average live significantly shorter lives than gold and bronze medalists. Gold is not too surprising, but bronze?

Read moreShow less

Subscribe to our free newsletter, GZERO Daily

Latest