Hosting Olympics Can Rejuvenate Or Drain a City

Amid the excitement and heartbreak of the 2012 Olympic Games, it’s easy to forget that someone has to foot the bill.

Construction workers are seen on a bridge over the Sea to Sky Highway Feb. 10, 2009, near Squamish, B.C. The highway was the road used between Vancouver and Whistler during the 2010 Winter Olympics from Feb. 12 to Feb. 28, 2010. DON EMMERT/AFP/Getty Images

Amid the excitement and heartbreak of the London 2012 Olympic Games, it’s easy to forget that someone has to foot the bill.

Hosting the Olympics can be a source of pride and an opportunity to rejuvenate a lagging city. However, the two-week worldwide party costs billions to build and operate. It’s something Canada knows a little about, having hosted three Olympic Games.