While I am a complete skeptic about the economic value that accrues to a country for hosting international sports events such as the Olympic Games, I am impressed that London 2012 is going all out for a commercial to find value for tickets. Mark Tran of the Guardian reports that some tickets during the opening ceremony will go for the symbolic £ 2012. This will not necessarily be the price for all the 8 million tickets that will be available across the 26 events, but this pricing mechanism has my support and respect.
I am certain that there will be takers for the more expensive tickets even if I remain uncertain about the ability to sell all the 8.8 million tickets. Still, Lord Coe and his crew are right in trying to get the best value for the tickets because the cost overruns for the venues and the works require very savvy marketing to ensure that the games get as close as possible to breaking even.
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