The critical problem for the IOC and the Olympic Games

In years gone by, hosting the Olympics was a privilege for a city, but since the turn of the century, interest in hosting the most prestigious sporting event has trickled.

According to the Search Party YouTube channel, 12 cities applied to host the 2004 Games, 10 for the 2008 Olympics, nine for 2012, then seven for 2016, and five for the 2020 Olympics in Tokyo.

When deciding who would host the 2024 Olympics in 2017, only two cities remained in voting, with Paris and Los Angeles competing against each other.

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The International Olympics Committee was so concerned that no one would bid to host the Olympics in 2028 that on the same day, they announced Paris would get the 2024 Games and Los Angeles would host the 2028 Games.

The Economist reports the IOC has been forced to reform its bidding process. Instead of cities putting together proposals costing tens of millions of dollars, the IOC now identifies promising candidates and identifies a 'preferred bidder.'

Why don't cities want to host the Olympics anymore? One reason is the ever-mounting costs of hosting the modern Olympics, with Beijing 2008 costing $10 billion (£7.8B, €9.2B) and Rio 2016 costing $13 billion (£10.1B,€12B).

The Rio Olympics generated $9 billion (£7B,€8.3B)in revenue, much of which was kept by the IOC and was therefore unable to be used to defray the expenses associated with hosting.

With around 11,000 athletes competing at the 2024 Olympics from over 200 territories, the sheer size of these events comes with a hefty price tag, with specialized buildings and stadiums being purposely built for the Games.

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The Georgetown Journal reports the stadiums and buildings are called 'white elephants.' In other words, abandoned buildings after the Games. The Summer Games require 40 sporting venues, an Olympic Village for 16,000 athletes, and an international media center.

To make room for the thousands of acres needed, thousands of people living in the surrounding areas have to be pushed aside. In China's case in 2008, millions of people were moved elsewhere.

With two fatal terrorist attacks already happening at the Olympic Games, the cost of security has increased substantially since the 1990s, with costs rising to over a billion dollars to keep everything and everyone safe.

With the lack of appeal to host the Olympics seemingly increasing, will there come a point where the Olympic Games won't be hosted every four years?

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