Top Olympic Bid Stories of 2008: Global Economic Crisis Shakes Up Olympic Bids

Now at number two, GamesBids.com counts down the year’s top Olympic bid stories in our first ever Top Ten Olympic bid Stories list. This following story had a significant impact on most countires and citizens around the world making it the year’s number one story overall. But on our Olympic bid list, its impact positions it in second place.

Previously…
#10- Chicago fights for control of key domain name
#9 – Birmingham, Alabama bids for the Olympics – we think
#8 – Durban to bid for 2018 Olympics?
#7 – PyeongChang gets ready to bid for 2018 Olympic Games
#6 – Innsbruck, Austria Awarded First Winter Youth Olympic Games in 2012
#5 – Singapore Awarded First Youth Olympic Games in 2010
#4 – Doha gets shut out of Olympic Bid
#3 – Beijing’s Mega-Games Leaves Olympic Bids at a Loss

#2 – Global economic crisis transforms Olympic bids

The current global economic crisis has left its mark everywhere, including the world of Olympic bids and the Olympic movement. The current four candidates for the 2016 Games have now shifted focus on their financial stability and viability, especially in the light of financial difficulties and mounting venue risks associated with the preparations of the London 2012 and Sochi 2014 Olympic Games. While claiming that they are able to persevere during the current economic downturn – some bids seems to be reconfiguring their plans ahead of the bid book handover in February to include some cost-cutting measures.

Tokyo 2016 suggests that their strong economy will help benefit the Olympic movement during these difficult times. Madrid 2016 insists that the have no budgetary constraints as a result of the current downturn.

In November, the London 2012 Olympics Minister hinted that London may not have bid for the Games that they won had they the foresight of the current economic climate.

Tomorrow GamesBids.com reveals the top story of 2008.

About Robert Livingstone


A senior producer and award-winning journalist covering Olympic bid business as founder of GamesBids.com as well as providing freelance support for print and Web publications around the world. Robert Livingstone is a member of the Olympic Journalists Association and the International Society of Olympic Historians.