YOG 2010. Boom or Bane?

Singapore has won the bid to host the inaugural Youth Olympic Games in 2010. But is this a boom or bane?

Let's look back at various high profile events held recently and perhaps we can have a glimpse of what is going to happen.

Just about a year and a half back, the IMF annual meeting was held in Singapore, several controversies happened, such as lack of transports, conflicts with the World Banks over the entry of activists. A news link here. Suntec City and Marina Square were pretty empty with sales dropping despite promotions and sales. CNA report here.
While claiming to be an economical boost to tourism, retail business during this period etc, it proves to be otherwise. End of the day, it still have to depends on the locals. See here. Also road closures put pressure on nearby traffic and affects the MRT, in general the whole public transport system is affected.

Next up is the F1 Grand Prix Singapore leg. Ticketing system is unable to cope with the high demand and basically you cannot buy tickets or wait a long long time to get your tickets. News source here. An apology was issue but made to locals only. The huge demand should be predicted and handled better but it seems like either complacency or not enough planning leads to a very basic and fundamental error.

Security issue is another moot point here. Current hottest news is the escape of one very special detainee, Mas Selamat Kastari, the leader of the Jemaah Islamiyah. A manhunt is underway and more than 24 hours have gone by and no signs of him. He escaped during a family visit by requesting a toilet visit and, presto, he is gone.

Can Singapore really able to host the YOG 2010 effectively? Will traffic comes to a standstill again? Will there really be economic benefits as the participants are youths? Adults during IMF meeting do not really spend that much, how about the teenagers etc? Their guardians?
Cost of infrastructure, to be borne by taxpayers who do not have much to gain from it?
With just one event, the ticketing agent screws it up so with multiple events, are they able to handle it? Sistic? They can screw up for Jay Chou's concert so screwing up so many events are highly possible.
Security? With this high profile security risk, it is more attractive to unfavorable attentions elsewhere. As this is an inaugural event, it will certainly attract more unwanted attention.

To me, as an ordinary citizen, there is no benefits at all. Cost of infrastructure will probably be passed down to the man-on-the-street, it wun benefit my company so you can forget about the bonus. Traffic gridlock will probably spoils weekend plans and daily commuting will spend more time. Seems like a lot of the students are being brain-washed into thinking - YOG 2010 = increased tourism = better economy = every1 earns more money. Naive thinking.