A very interesting article from my colleague Mike:
A new study has estimated that the Games gave the average Londoner an uplift in happiness equivalent to a £8,000 pay rise! Unfortunately the feelings of happiness wore after after 12 months.
We had all the usual promises about the legacy the games would leave if we hosted it but it just doesn’t happen. “The overwhelming conclusion is that in most cases the Olympics are a money-losing proposition for host cities”
Apart from the IOC fat cats of course who do very well thank you.
Paul Dolan, a professor of behavioural sciences at the LSE, and Georgios Kavestos, at Queen Mary University London, wondered if the feeling of satisfaction would make up for the financial losses. Immediately after the games 55% of Brits interviewed thought it was a worthwhile investment.
Researchers in London, Berlin, and…
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