Olympic Economic Benefit Tosh

From Yahoo

Mired in recession, Britain sees the Games as a showcase for its business potential. However, credit ratings agency Moody's said last month that hosting the world's biggest sporting event would give the economy and British companies only a short-term boost.
Robertson said Britain's success in winning the right to host future sports events was a tangible economic benefit.
"If you look at the number of major sports events that are now coming to this country in the period after 2012, British sport has never had a period like this," he said.
"There is at least one major competition and a series of other world championships to come here every year, running through pretty much until 2020."
Glasgow will stage the Commonwealth Games in 2014, England hosts the rugby union World Cup in 2015 and the world athletics championships will be held at the Olympic Stadium in east London in 2017.

This is about as spectacularly stupid as the Mayor of South Park in the Episode "die, hippy, die".

Cartman:	Mayor! Mayor, I confirmed the data! The hippies are going to have a massive jam band concert!
Mayor McDaniels:	I know. I signed the permit.
Cartman:	[steps back, stunned] You... You what?
Mayor McDaniels:	I signed a permit allowing them to have their concert here. Their little "festival" should pump some money into our economy.
Cartman:	They're hippies! They don't HAVE any money!

Substitute "sporting events that suck on the public teat" for hippies, and you're about there.

OK, only 2 of them. But I hardly think that you can credit a UK country getting the 2015 World Cup on the Olympics when it flips between Europe and elsewhere, and 8 years ago it was France. Where else were they going to host it?

Both the Commonwealth Games and World Athletics cost money. You might be able to come up with some intangible bullshit about tourism or prestige, but they absolutely do not produce a tangible economic benefits.