A study commissioned by LA 2024 states that the ‘24 Summer Games “would generate" as much as $11.2B in economic output in the city, according to Scott Reid of the ORANGE COUNTY REGISTER. The economic analysis by Beacon Economics and the UC Riverside School of Business Center for Economic Forecasting & Development said that the Games also would “create the equivalent for as many [as] 79,307 jobs” and between $152-167M in additional tax revenues in the city. The study “is required” by the IOC. The analysis “projected 3.3 million visitors would attend” the Games, with the average visitor “staying in the city 5.5 days and spending an average of $230.07 per day” (ORANGE COUNTY REGISTER, 1/10). College of the Holy Cross professor Victor Matheson warned that such predictions "usually fall short." He said, “When we go back and look, a good rule of thumb is to move the decimal point one place to the left.” In L.A., David Wharton notes in an effort to “cut the type of expenses that have left Olympic host cities with massive deficits, bid leaders have focused on making use of existing arenas and stadiums throughout the region” (L.A. TIMES, 1/10).
