Will Rio Olympics be economic disaster?

Brazil has invested millions to host the Rio Olympic Games this summer. Patrick Rishe, director of Olin’s Business of Sports program, predicts the ROI could be disappointing. He discusses the potential economic disaster for Brazil with Frank Cusumano on The Press Box.

“I just don’t see where the return is. The main return from hosting the Rio Olympics is people coming back and touring. With all the negative attention people aren’t going to want to go back to Rio. I think that most of the people coming to the games are going to be people from the other South American countries.” – Patrick Rishe

Link to article and audio.

Link to Rishe’s latest column on Forbes.com: “Horrific Pre-Olympics Press Dooms Brazil To Poor Economic Returns From Hosting Games.” Rishe predicts:

[The Rio Olympics] may set a modern Olympic-era low for (1) number of non-local visitors to the country during the Olympic Games, and (2) number of future tourists who travel to an Olympic host city or country on the strength of the good press and public relations realized by the host before or during the Games.

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