The brass behind the gold

Next stop: TokyoBRITONS worried about their country's global standing after Brexit might take solace from the Olympics in Rio de Janeiro. Team GB arrived home on August 23rd with 27 gold medals, second only to America. Its total haul of 67 gongs was its best in a century, and an Olympic first: no other country has increased the number of medals it has won immediately after hosting the summer games, as London did in 2012.History suggested that Britain would not match its performance in London, when it finished third with as many golds as France, Germany and Japan combined. Hosts typically enjoy an 'Olympic bounce': most increase their returns in the run-up to a home games, peak on their own turf, and then fade (see chart). A likely explanation is that hosts increase spending on sport ahead of the event, not wanting to flop at their own party. British success has increased in line with total funding since 1996, when Team GB won just one gold medal in Atlanta on a shoestring budget.
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