Interesting article regarding GDP the year after a country hosts the Olympics: Spotlight on China Olympic Games and GDP Growth
In summary, his article points out that GDP decreases substantially the year after the Olympics is held.
Here's an article about the economic impact prior to the Olympics: The Economic Impact of the Olympics
In summary, it shows that there's great robust growth in GDP about three years prior to the Olympics, BUT like the article above, it shows a decline in GDP post Olympics.
More info on hosting the Olympics: Sports Industry: The Economics of the Olympics
Two problems I see with this data:
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2) Is it possible that the Olympic year possesses a higher GDP because of increased government spending, with the following year merely a return to the normal?
One possible damning element of the evidence:
1) Assuming the previous two points prove false, the presented evidence is pretty damning considering the first two economies (Japan and Korea) were experiencing their respective economic booms / industrial revolutions and would be less likely to see their GDP growth move backwards.
Nonetheless, interesting stuff. Good find.