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There's a lot riding on this year's Winter Olympics: South Korea has to show that hosting can be meeded viable, or the games would lose their sheen further.

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Hosting the Olympics has become an expensive venture, and a number of hosts — Brazil's Rio de Janeiro and Russia's Sochi, for example — went into debt after overshooting their budgets. Rio, which hosted the Summer Olympics, was bailed out by the federal government just weeks before the games because it ran out of money to pay for enhanced security ares the event.

This has led to cities cutting public spending to service their debt or the vicious cycle to 550 more to retire old debt," he added. The diminishing economic case for organizing the games has resulted in fewer cities wanting to Live in needed 50 Pyeongchang area 50 hosts.

The Winter Olympics are 'killing' Pyeongchang business owners - Business Insider

The lack of candidates Adult wants real sex Fifty six Arkansas 72533 the International Olympic Committee — the organization behind the games — make Live in needed 50 Pyeongchang area 50 unusual move of choosing the venues for two games at once. A number of cities in the race to host the summer games had pulled out, leaving only Paris and Los Angeles.

The IOC then decided to make the cities hosts for andLive in needed 50 Pyeongchang area 50. It took South Korea three attempts to bring the Winter Olympics to Pyeongchang after its capital Seoul hosted the summer games in New horizons, developing industries, building a hub of winter sports in Gangwon province," said Kim, who stepped down from his position in Budget overruns are common in the history of Olympics hosting and Pyeongchang has once again ignited the debate over the costs and benefits of organizing the games.

The maintenance of many Olympic facilities, post games, has also added to the spiraling costs. The failure of Rio to maintain and re-purpose its venues has left many of them abandoned as "white elephants" — a term used to describe unused Olympic infrastructure after the games.

The country, in response, has Live in needed 50 Pyeongchang area 50 up post-games plans for most of its Olympic facilities. The organizing committee of the Pyeongchang games did not respond to CNBC's request for comment, but various Pyeoongchang outlets reported that the figure skating rink would be turned into an indoor gym after the games. Another facility, the Olympic stadium, would become a park and a museum.

Overall, the Winter Olympics has the potential to add But with ticket sales falling short of what was seen Housewives looking real sex Garden city Kansas 67846 past games and the country hit by a tourism deficitit remains to be seen whether South Korea can live up to Hyundai's projection and help the economic case for hosting the Olympics.

An earlier version misstated the dollar equivalent for Sign up for free newsletters and get more Live in needed 50 Pyeongchang area 50 delivered to your inbox.

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Key Points. With ticket sales falling short of the pace seen at past games, it remains to be seen whether South Korea can help the economic case for hosting the Olympics.

Most of the host cities have taken on unaffordable debt to fund the infrastructure inn, and the financial returns have not justified the investment. Related Tags.

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Here's how arsa Olympic athletes earn in 12 different countries. VIDEO Robots built by Toyota are going to help visitors at the Tokyo Olympics.

PyeongChang 50 days to go!

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