Costs of London Olympics
Financial cost of building facilities, which may only be used to their full potential for a short time during games.
The investment is short term. Many facilities can only be used for the 3 week duration of the Olympics. After that there is a danger of ‘white elephant projects’ – facilities that can not be effectively reused. E.g. similar to the Millennium Dome.
Opportunity cost. It is estimated the cost of the Olympic village could cost up to £1billion. This is £1billion that cannot be spent on alternative investment schemes like transport and education in London.
The credit crunch means private sector investment has dried up. This increases the cost onto the tax payers. Government spending is already under strain because of the bank bailouts and recession.
If taxpayer has to step in, the Olympics will lose part of its £2.2bn contingency fund
The London Olympic logo is truly awful, and according to the Sun newspaper could trigger epilepsy.