"Boon or bust? London locals split on Olympic impact" USA Today Read Time 1 Minute Issues and Ideas In a front page USA Today story about the city of London experiencing a potential "Olympics recession," as host of 2012 Summer Games, Victor Matheson, associate professor of economics at the College of the Holy Cross, echoes the sentiments of other economists who warn that the economic benefits of hosting the Olympics tend not to outweigh the costs."I would never suggest the Olympics is (worth) nothing," Matheson said. "It's a huge event in a gross sense, but it's not nearly as big in a net sense."Matheson also noted that while some businesses may see growth, “the record suggests that growth in one area just means less economic activity in another,” and “building a collection of giant sports stadiums isn't the best way to nudge growth anyway.” Read the USA Today story This "Holy Cross in the News" item by Kristine Maloney. More Stories Image Go to Story Enjoy the Holy Cross Yule Log Image Go to Story Holy Cross 2025: The Year in Photos Image Go to Story Lessons and Carols 2025 View All Stories
In a front page USA Today story about the city of London experiencing a potential "Olympics recession," as host of 2012 Summer Games, Victor Matheson, associate professor of economics at the College of the Holy Cross, echoes the sentiments of other economists who warn that the economic benefits of hosting the Olympics tend not to outweigh the costs.
