All this is in striking contrast with the situation when Brazil won the bid to host the 2016 Olympics nearly a decade ago. There is also a parallel Olympics curse, of some countries tumbling into an economic crisis around a decade after hosting an Olympics. “The autumn of 1964, when the Olympics came to Tokyo, was to be the greatest ceremonial celebration of Japan’s peaceful, post-war democratic revival. India’s average PPP income is now $6,162, going by IMF data. The latest edition of the Olympics will begin at the end of this week in Rio de Janeiro.

Source: Mint August 02, 2016 18:33 UTC