Situation: The 2016 Olympic Games caused a property boom in central favelas (slums) in Rio, such as Vidigal. This place had been ruled by drug gangs but changed due to the Games' potential.
Effects: Land value increased by 300% in three years. Outsiders, real-estate agents, and land speculators moved in, leading to a 165% increase in the average house price between 2012 and 2016.
Downsides: Activists argue that over 170,000 people were displaced from their homes for the Olympic games. Favela do Metro, home to 1,000 residents, was demolished, perhaps to build parking lots.
Occupy Wall Street (OWS): An anti-capitalist protest in New York focusing on economic inequality. Protesters used the slogan "We are the 99 per cent" to highlight the massive profits and disparities created by the financial sector.
Occupy St Paul's: A similar protest in London in 2012. Protesters camped outside St Paul's Cathedral after failing to camp outside the London Stock Exchange. The camp lasted until February 2013, resulting in 20 arrests.
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Situation: The 2016 Olympic Games caused a property boom in central favelas (slums) in Rio, such as Vidigal. This place had been ruled by drug gangs but changed due to the Games' potential.
Effects: Land value increased by 300% in three years. Outsiders, real-estate agents, and land speculators moved in, leading to a 165% increase in the average house price between 2012 and 2016.
Downsides: Activists argue that over 170,000 people were displaced from their homes for the Olympic games. Favela do Metro, home to 1,000 residents, was demolished, perhaps to build parking lots.
Occupy Wall Street (OWS): An anti-capitalist protest in New York focusing on economic inequality. Protesters used the slogan "We are the 99 per cent" to highlight the massive profits and disparities created by the financial sector.
Occupy St Paul's: A similar protest in London in 2012. Protesters camped outside St Paul's Cathedral after failing to camp outside the London Stock Exchange. The camp lasted until February 2013, resulting in 20 arrests.
Dive deeper and gain exclusive access to premium files of Geography SL. Subscribe now and get closer to that 45 🌟
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