Generate text that refutes this claim: Hosting has wide-reaching economic benefits  Hosting creates an economic boost. Whilst none of the Olympics of recent times have made an immediate profit, the cost of the regeneration and improved infrastructure means that this is not a big problem as long as the losses are not huge. The Olympics showcases the host nation to the world and most hosts have seen a boost in tourism in the years after the Olympics (Australia estimates it gained£2bn extra tourist revenue in the four years after Sydney 2000). During the games between 60,000 (Paris 2012 estimate) and 135,000 (New York 2012 estimate) jobs are created providing skills and training to local people.
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Hosting does not leave a beneficial legacy. As a study found in 2010, 'there is insufficient evidence to show that major multi-sport events benefit or harm the health and economy of the host population.'1 The demands of the Olympics are very particular, an 80,000 all-seater stadium, pools, horse tracks, beach volleyball etc. Many of these stadia will never be used again after the end of the games. Even in Australia, which has a very strong sporting ethic, underused stadia in Sydney are costing the taxpayer $32m a year in maintenance1. In the long term, the money spent on these stadia would be much better off used to build affordable homes and transport infrastructure which is designed with local residents in mind rather than with the intention of impressing IOC members. As far as tourism goes, Greece may even have lost out economically in 2002-03 as potential visitors stayed away, frightened off by stories of disruptive building works, security worries and fears of over-crowding.  1 Ormsby, A. (2010, May 21). Benefits of hosting Olympics unproven. Retrieved June 29, 2011 from Reuters:  2 Davenport, C. (2004, September 1). A post-Olympic hurdle for Greece: the whopping bill. Retrieved May 12, 2011, from The Christian Science Monitor: