Valuing the economic impact of the London Olympics

[petagny]

Here's an interesting article in the FT on the net benefits of the Olympics:

http://www.ft.com/cms/s/0/f05f5a70-d4dc-11e1-9444-00144feabdc0.html#axzz21SEAlWEp

It's not just a question of whether the Games produce net benefits. Even if this can be shown, would the money have produced an even bigger net gain if spent elsewhere?

But if we all get some pleasure from hosting the Games this should also be included on the benefit side of the equation. One study quoted in the article puts the value of additional utility/happiness from Euro '96 tournament at £165 per person, which multiplied up is a big number. But could we get the same happiness for less money?
Here's the discussion of the happiness factor that is quoted in the article:

http://www.cassknowledge.com/video-podcast/video/episode-2-stefan-szymanski-hosting-olympics-and-happiness

I've also attached the other articles quoted in the article.

[Napodano]

Slightly off-topic but an intersting reading to understand who are the happy ones.

'The Olympics is no longer all about sport, but rather a corporate jamboree for the elite super-rich....'
http://www.economywatch.com/economy-business-and-finance-news/has-money-killed-the-olympic-spirit.26-07.html