Victorian Premier Dan Andrews’ decision to back out of a commitment to host the 2026 Commonwealth Games because it might cost A$6 billion to $7 billion that did “not represent value for money” raises the question: is it even possible to work out the costs and benefits of such major events?
It’s a question still hanging over Brisbane’s plans for the 2032 Olympics.
Except in extreme cases – such as the 1976 Montreal Olympics, which is widely regarded as a financial disaster – comparing the costs and benefits of events such as the Commonwealth and Olympic Games is anything but straightforward.
