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Los Angeles to Host 2028 Olympics

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The big question, is it too early to put my Airbnb up for rent?

According to USA Today, The International Olympics Committee ( The IOC ) has made their decision. Paris will host the Olympics in 2024, and Los Angeles will be given the torch for 2028.  As someone who lives in LA, I’m definitely excited that the Olympics would be held in the same town I currently reside, and just think of the Airbnb opportunities?! Cha-ching! However, I’d be remiss if I didn’t have an enormous amount of reticence towards the decision which will bring about increased traffic and expense.

California is already $1.3 Trillion in debt. Will the 5 rings help?

The LA Times released a story last year saying that the $5.3 Billion expense would be matched with increased revenue, but if history is any indication, this has been proven to be far from the case. The Sochi games cost $50 Billion, and the 2020 Tokyo games are estimated to cost $30 Billion ( 4 times the initial cost.) As cool as it would be to host Olympic games, is it worth the cost, and how much will my taxes be raised?

Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

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4 Comments

  • franklin200 July 31, 2017

    2028 is a long way away, who knows if you will still be living in LA by then?

    Cost wise it shouldn’t be too bad since LA is taking advantage of existing infrastructure and not as much new construction.

    • Miles July 31, 2017

      Very true – it’s a ways away, and fingers crossed you’re right. Thanks for contributing!

  • Pedro July 31, 2017

    Check out the history on the ’84 games. LA saved the day for the IOC who was struggling to find a host after the disaster in Montreal in ’76. LA managed turned a profit by avoiding the major costs associated with hosting. The biggest issue and cost from hosting the Olympics is the money spent on new stadiums/facilities/venues, which eventually go unused since many times the cities hosting the events do not have/need these buildings for a reason. LA won’t have to build any new facilities that I’m aware of, they have numerous stadiums, pools, event spaces, tracks, bodies of water to chose from, and can once again use either UCLA or USC for the Olympic village. Ideally this will spur LA into making the infrastructure investments that the city desperately needs and will have a long term benefit to the city, much more than building stadiums/venues. Be excited!

    • Miles July 31, 2017

      Pedro – Very interesting stuff, and I think it’ll be very cool. There is certainly a need for infrastructure investment, and maybe the Rams will get their stadium 😉 Hopefully it’ll be a profitable venture!

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