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The Tokyo Olympic Games have been declared a success. This despite spectators not being allowed inside the stadiums, the Games being unpopular in Japan with many residents of Tokyo, reeling under Covid-19, fearing that the disease could spread even further because of the Olympics. [https://www.globaltimes.cn/page/202108/1230784.shtml]
But the organisers held on and delivered fairly successful games with athletes breaking world and Olympic records. But would Japan ever bid for any international tournament of this scale again?
Until a decade ago, there was huge competition among cities to host the games, with some even trying to influence voting members. Ten cities competed for the 2008 Olympics and Beijing won the bid. Nine were in the fray for the 2012 Games, and London won it. 2016 Summer Games too had several bidders, but Rio came in top. [https://www.independent.co.uk/sport/olympics/olympics-host-bidding-brisbane-tokyo-b1888727.html]
But for 2024 Summer Games, there were only two in the fray and Paris won it, and the second city in the fight, Los Angeles was awarded the 2028 Olympics. More recently, when Brisbane was declared as the host of 2032 Summer Olympic Games, there was hardly any celebration.
Why are cities shying away? Have the Games lost the sheen? The Games have certainly not lost their charm going by the media coverage of the Tokyo Games. But they is huge financial burden on the cities and countries that host them. Even a developed country like Japan was groaning under financial pressure. For instance. Tokyo had to spend close to $16 billion on the Games, more than double its budget. [https://fortune.com/2021/05/22/the-biggest-olympics-hurdle-finding-host-cities/]
Rio was one of the first cases of the host city facing a financial disaster. [https://fortune.com/2016/08/10/olympics-financial-disasters/] Rio was a cautionary tale for all potential bidders.
Lack of interest due to huge financial burden is so severe that no city has found to host the 2030 Winter Games. While the Summer Games of 2032 have been imposed on Brisbane, 2030 Winter Games is still looking for a host city.
Read more:
Why cities are shying away from hosting the Games?
https://www.bbc.com/news/world-46236682
How the Olympics hurt Japan economically?
https://www.nytimes.com/2021/08/06/business/tokyo-olympics.html