{"id":125026,"date":"2021-08-10T18:36:46","date_gmt":"2021-08-10T13:06:46","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=125026"},"modified":"2021-08-12T14:13:48","modified_gmt":"2021-08-12T08:43:48","slug":"heres-a-sure-fire-way-to-boost-your-count-of-olympic-medals","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/heres-a-sure-fire-way-to-boost-your-count-of-olympic-medals\/","title":{"rendered":"Here\u2019s a sure-fire way to boost your count of Olympic medals"},"content":{"rendered":"

Source<\/b>: live mint<\/a>\u00a0<\/span><\/p>\n

Synopsis<\/b>:<\/span><\/h5>\n

Empirical data shows that the host country gets benefitted from hosting the Olympics. It raises their medal count.<\/span><\/p>\n

Background<\/b>:<\/span><\/h5>\n

Hosting Olympic Games is an economic disaster, even in non-pandemic times.\u00a0<\/span>A recent estimate suggests that the cost doubled from initial expectations to $15.4 billion. This includes an additional $3 billion due to the one-year delay and related pandemic-control measures.<\/span><\/p>\n

Nonetheless, there exists a positive correlation between hosting and medals won by a country. The empirical data shows that GDP, growth rate, population, etc. variables are not a guarantee of more medals, but hosting is.\u00a0<\/span><\/p>\n

Boost to the host country<\/b>:<\/span><\/h5>\n
    \n
  1. A look at the count of gold, silver, and bronze shows that the host country gets a significant boost, one that persists in subsequent games.\u00a0<\/span><\/li>\n
  2. Japan\u2019s incredible haul for Tokyo 2020, with 27 gold medals, puts it third behind the US and China.\u00a0<\/span>Significantly, it captured the <\/span>top prize in 7.9% of all events<\/b>. It is much higher than 3.9% in Rio 2016 and 2.3% for London 2012.\u00a0<\/span><\/li>\n
  3. Spain\u2019s Golden Games (Host) at Barcelona in 1992 saw it grab 5% of the gold on offer, putting it sixth.\u00a0<\/span><\/li>\n
  4. Australia jumped from 3.3% in its Green Games (the event prior to hosting) to 5.3% in Sydney 2000. It climbed to 5.7% four years later in Athens, then slid to 4.6% in Beijing.<\/span><\/li>\n<\/ol>\n
    Analyzing other variables<\/b>:<\/span><\/h5>\n