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The economic fallout from past Olympic events has been significant, transforming the narrative around what was once considered a prestigious opportunity. Andrew Zimbalist, an economist and author, emphasizes that many host cities are left with unmanageable debt after the Games. For example, the financial struggle encountered by Montreal after hosting the 1976 Olympics, which saw costs balloon over budget, has acted as a deterrent for potential bidders.
Cities like Sydney and Beijing invested heavily in new infrastructure and venues, only for many of them to become "white elephants," or facilities that remain largely unused following the games. Empty stadiums and underutilized venues paint a grim picture of what happens to cities after the Olympic spotlight fades.