Some major musicals are debating whether or not to close during the London Olympic Games next summer. Musicals such as The Wizard of Oz and The Phantom of the Opera are on the chopping block. The reason, according to The Guardian, is “The European Tour Operations Association (ETOA) has announced that its members are facing a 95% decrease on London bookings for the period, while the managing director of Encore Tickets, John Wales, said the company was bracing itself for 'sales from tourists to be at least 40 per cent down on last year'."
This type of economic slide for non-Olympic venues is a common consequence of tourist-popular cities hosting the Games. Everything from costs of lodging to costs to travel to and from the host city dramatically rise during the Games. Those additional costs, paired with the crowds, drives potential non-Olympic tourists (such as theater goers) to pick other vacation destinations.
This economic impact is one reason why some locals look for ways to protest their own city’s bid to host. Everything from Facebook groups to blogs emerge citing tons of reasons why hosting the Games is a bad idea. Undoubtedly there are positives and negatives to hosting a huge world sporting event such as the Olympic Games. Some businesses see a drop in revenue and large crowds interrupt everyday life.
I am a supporter of the arts and definitely feel for those individuals whose lives are detrimentally impacted. However, the spirit of the Games is being completely missed here. The whole point of hosting is to welcome people from around the world to your home town in an act of hospitality and comradery (not monetary gain). I also feel these economic finding are a little short-sighted and not taking into consideration the possible upswing of tourists in forthcoming years post-Games TV coverage. Ref. theguardian.com, thesportseconomist.com Pic. Ref. londontravelogue.wordpress.com
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