Here in the United States, everything is in an uproar over the collapse of the financial industries. Personally, I do not worry about it because it lets me buy into the market at a discount. I’m not the only person who isn’t worried, though. IOC president Jacques Rogge has expressed his lack of concern over the financial industry’s problems affecting preparations for future Olympic Games.
“No one has certainties today, but I am not pessimistic for the Olympic Games,” Rogge said.
Funding for the 2010 Winter Games in Vancouver, British Columbia, is secure while authorities in London, site of the 2012 Summer Games, have assured the International Olympic Committee they can overcome the worldwide credit crunch.
The over $3 billion that the IOC spends in each 4-year Olympic cycle are not seen as an expense but as an investment.
The infrastructure improvements that the host cities receive provide benefits for the next 4 to 6 decades, and the Olympic Village is sold after the games to private investors.
(More Info: ESPN – Photo Credit: Dr Andy Miah)
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