Have you ever wondered why, whenever a host for the Olympics is announced, many countries eagerly vie for the opportunity? What do the Olympics really offer to a city or country?

            The host country for the Olympics must invest an enormous amount of money, which only lasts for about two weeks—the duration of the Olympics. Once the event is over, the investment is essentially gone. This massive expenditure has taught many host countries valuable lessons over the years. For instance, in 2008, when China hosted, it generated 170 billion baht in revenue but incurred a loss of 1.2 trillion baht. In 2012, the UK generated 250 billion baht but lost 320 billion baht, and in 2016, Brazil generated 29 million baht but faced a loss of 340 billion baht.

            So, what benefits do the Olympics actually provide to a city or country?

Hosting a global sporting event like the Olympics, which attracts the attention of billions of people from 40-50 participating countries, serves as a significant showcase of our nation's identity to the world. Therefore, many countries aspire to host the event primarily to demonstrate their readiness and potential, including infrastructure, management systems, and the enormous revenue from advertising, broadcasting rights, athletes, teams, and spectators. When the world sees that our country can successfully host the largest sporting event like the Olympics, it naturally boosts foreign investment confidence.

            Successful examples of host countries include Barcelona, Spain, and Seoul, South Korea.

           Barcelona is one of the countries that made a long-term worthwhile investment in hosting the Olympics, effectively transforming the city. During the time Barcelona hosted the event, it faced an unemployment rate exceeding 20%. However, the Olympics revitalized Barcelona, turning it into a city with comprehensive public utilities, roads, and tourist attractions, resulting from the integration of unique characteristics and the needs of various districts (Inclusiveness). This success did not happen overnight; it was the result of extensive planning, processes, and countless problem-solving efforts.

            Another example is Seoul, South Korea, which hosted the Olympics in 1988. It leveraged this opportunity to transition from a developing country to a fully developed nation, even though South Korea had already begun its development as a major producer and exporter of technology. This was made possible by winning the host city vote against Nagoya, Japan.

            To host the Olympics, preparation should not only be timely but also thorough. Given the high investment required, it can ultimately lead to public debt for the population. Therefore, if Thailand aspires to host the Olympics, it must be well-prepared, create a distinctive identity, and avoid over-investing. When the opportunity arises, our country will be ready to showcase to the world just how remarkable Thailand truly is.