The 1984 Olympics were notable for another reason: Under the guidance of Peter Ueberroth and with substantial corporate sponsorship, they were the first to turn a profit for the host city. Suddenly, the prospect of hosting the Olympics seemed not only an honor, but also an economic growth strategy--feeding the idea that it is right and fair to move the games around. Over the past three decades, a sub-industry of consultants and economic forecasters has worked with local chambers of commerce to perfect Olympic bids, urging municipalities to propose larger stadiums, and more lavish monuments, more extensive media facilities in order to beat the competition.
Alas, few cities have managed to repeat L.A.'s success: According to a 2002 audit, the government of New South Wales (the Australian state where Sydney is located) spent $2 billion Australian ($1.5 billion U.S.) to subsidize the 2000 Olympics, and has since taken in only a third that sum in tax revenue attributed to the games. In Sydney and elsewhere, some projects prompted by the Olympics--for example, improvements to roads and public transportation--may prove wise investments over the long haul. On the other hand, Olympic cities around the globe are now dotted with giant concrete stadiums and velodromes that sometimes strain for post-Olympic purpose.
Also, it was at Hitler's 1936 Olympics that the Germans introduced the Olympic torch; the first Olympic torches bore the logo of Krupp, the German munitions giant.
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