Long-Term Thoughts on Business of 2028 Olympics | LABJ
David M. Smith, PhD discusses the 2028 Olympics being held in Los Angeles and the possible post-Olympic economic effects
February 2, 2018 | 1 min read
In the Los Angeles Business Journal, Pepperdine Graziadio Associate Professor of Economics and Associate Provost for Online Programs David M. Smith, PhD, discusses possible economic after-effects of the 2028 Olympics, to be held in Los Angeles.
Dr. Smith is confident L.A. will benefit in ways recent host cities like Rio de Janeiro, Brazil, and Athens, Greece, did not. He posits Los Angeles has already invested in necessary infrastructure, while boasting tourist appeal that extends beyond the Games. Additionally, he points out, city officials and bid committee members negotiated a provision that a portion of a $476 million contingency fund converts to a surplus for Los Angeles if the Games finish at or under budget. He cites the formation of the LA84 Foundation following the 1984 Olympics in Los Angeles as evidence that L.A. taxpayers could enjoy economic gains in the aftermath of the 2028 Olympics, if officials apply the city's signature creativity and innovative thinking to potential shortfalls.