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World Business Report: First broadcast 23/07/2020 14:32 GMT: The beginning of the end for the Olympics?

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The beginning of the end for the Olympics?

First broadcast 23/07/2020 14:32 GMT

First broadcast 23/07/2020 14:32 GMT: The beginning of the end for the Olympics?

BBC World Service - World Business Report, The beginning of the end for the Olympics?

Has the Olympics become too expensive to be viable?

While Tokyo 2020’s future is uncertain because of the global pandemic, in reality the Olympic games have been in trouble for a long time, partly due to rising costs.

The Tokyo Olympics is predicted to lose $25bn without taking into account costs associated with the postponement. Then there are doubts over ticket sales and the revenue from sponsors. But Tokyo’s financial predicament is by no means unique. In fact, only one Olympics has ever made a profit for the hosts. We hear from Professor Andrew Zimbalist, author of Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup, Jules Boykoff, a former professional and Olympic soccer player, Craig Reedie an IOC member and Luis Fernandes a member of the coordinating committee for Rio 2016. Plus, some of the world's biggest brands stand accused of profiting from forced labour camps in China. Could the clothes we wear be tainted by human rights abuses? We hear from Chloe Cranston, from Anti-Slavery International. Plus, we look at how a lack of advertising revenue is clipping the wings of the battered blue bird that is Twitter. (Pic of the Olympic rings via Reuters).

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First broadcast 23/07/2020 14:32 GMT: The beginning of the end for the Olympics?

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