Munich dreams: Why the city needs the Olympics now!

Munich dreams: Why the city needs the Olympics now!

Something is happening in Munich! The city with its rich Olympic tradition, which has been an Olympic city since 1972, is facing an exciting referendum on a renewed application to host the games. This could have a significant impact not only on the cityscape, but also on the economic situation. A comment from Jörg Althoff underlines why he is in favor of the Olympic bid and emphasizes the social and infrastructural advantages. The author, born in '68, sees the Olympic structure, which was created more than 50 years ago, as an important cornerstone of urban development and is convinced that a sustainable future for Munich is only possible with modern infrastructure. Althoff emphasizes that he voted for the application by postal vote without being influenced by the critical voices, which, in his opinion, are often ideological and uninformed.

But what real impact can the Olympic Games have on urban development and real estate prices? Sports economist Wolfgang Maennig postulates that sporting events can act as catalysts. This becomes impressive when you look at the construction of new sports facilities, which often lead to the improvement of city districts. In an analysis of the land values ​​around the Max Schmeling Hall and the Velodrome in Berlin, he found that property prices in the immediate vicinity were up to 7.5 percent higher than in comparable areas. This trend could also affect Munich, where rising rents have been observed for decades.

Olympics and real estate prices

The rising prices are not always a reason to be happy. Consumers often have to prepare for local, limited price increases, which can be exacerbated by factors such as traffic and noise pollution. The discussion is also being led by various economic institutes, including the Ifo Institute and the German Institute for Economic Research (DIW), which warn of the risks and the often overestimated macroeconomic effects of such major events. It seems that the Olympics are not necessarily an economic jackpot, but rather a collection of temporary effects in terms of location policy.

Nevertheless, there are clear opinions about the potential positive economic stimulus that could come from improved infrastructure. The forecast from the German Olympic Sports Confederation (DOSB) mentioned by Althoff indicates an increase of 90 million euros from a total event cost forecast of around 4.9 billion euros. This potential is supported by a strong economic initiative of more than 30 DAX companies, which see the Munich application not only as a sporting event, but also as an economic opportunity.

The look into the future

Not only does the Olympic emotion resonate, the dreams of the younger generations also shape the discussion. Althoff describes his daughter's enthusiasm, who would love to compete in the Olympic Games in her hometown. Such personal stories create a connection with the population and bring common hope for an available, renovated infrastructure that promotes youth and sportsmanship.

Overall, current discussions about the Olympic bid show that it is not just about sport but also about far-reaching urban planning and economic considerations. Cologne residents and other citizens will have to ask themselves whether they are voting for or against an application. Nobody will be able to ignore the diversity of the arguments. It is always kept in mind that the consequences of such games go far beyond the sporting successes, and the question remains: Is Munich ready for a new Olympic adventure?