Every two years, bids are made by cities around the globe to the International Olympic Commission (IOC) for the chance to host the Olympic Games. The winner is chosen through a rigorous process that, for one, takes into account whether the city can convince residents that the benefits of hosting the games outweigh the increased taxes that may come with it.
Applicant cities may see the investment as bring worth the risk, hoping for increased tourism, international recognition, and continued use of the stadiums built for the games. But while being chosen to host the Olympic Games is still considered a great honor, many cities are now questioning whether it is worth the financial risk, especially in the long term.
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