Mega-events: Are they worth the costs and effort?

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2012 is a year with two major international events in sports. In June, Poland and the Ukraine hosted the European soccer competition and in July the Olympics will be opened in the UK in London. You are well advised to watch at least the forthcoming Olympics given the vast amount of money spent to make these events happen. Bidding for the Olympics was not cheap with costs of about £11 mn (US$ 17 mn) and now the hosts will spend £6.75 mn per hour on the opening ceremony.