Bill 732 was crafted to authorize a study to explore the costs & benefits of hosting the Winter Olympics in Vermont. It has been proven that the Olympics increase valuable tourism, which can in turn boost local economies. For example, the 2016 Rio de Janeiro Summer Games had over 6.6 million foreign tourists which brought in over $6.2 billion dollars. But the financial gain is not the only way that an Olympic site will increase the value of a location for it has been found that billions of people will watch the broadcasts of the Olympics and will put a hosting destination in a prestigious global presence.
Unfortunately, the Olympic hosting destinations also find that being a host results in the displacement or burden on its residents with minimal if any compensation. Neighborhoods are altered/destroyed to accommodate the events, traffic increases, and costs for needed infrastructures skyrocket. And these new infrastructures are typically discarded after the events have concluded leading to blight and crime.
Vermont has a lot to consider.
What are your thoughts on this proposed bill? Comment below.
To follow H.732 An act relating to hosting the Winter Olympics in Vermont go to: https://legislature.vermont.gov/bill/status/2022/H.732