Cost of the Olympic Games

Budget of Olympic Games

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The Olympic Games are considered to be the world's foremost international sporting event with over 200 nations participating.[1] It historically had the highest costs and expenses for the hosts, with the estimated cost of the 2016 Summer Games in Rio de Janeiro being at approximately US$11.1 billion.[2]

Sports-related costs for the Summer Games since 1960 is on average $5.2 billion (USD) and for the Winter Games $393.1 million dollars. The highest recorded total cost was the 2014 Sochi Winter Olympics, costing approximately US$55 billion. The 2016 Rio de Janeiro Summer Games experienced the biggest loss recorded at approximately $2 billion (USD).[3]

## Costs[edit]

The current highest cost of hosting the Olympic Games was the 2016 Rio de Janeiro Summer Games, costing approximately US$11.1 billion. In order to meet the requirements set out by the International Olympic Committee (IOC)[4] The Rio de Janeiro council had to invest heavily in building the necessary facilities/venues, and an entirely new subway line. The lack of a solid infrastructure to support these investments led to the council underestimating their costs by 25%.[5]

The costs of hosting the Olympic Games can be classified into 2 categories; infrastructure and operational costs.

### Infrastructure[edit]

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#### General infrastructure[edit]

The costs of general infrastructure consist of preparing the necessary infrastructure to accommodate the influx of tourists and athletes in the host city. The International Olympic Committee requires a minimum of 40,000 hotel rooms available for visiting spectators and an Olympic Village that is able to house 15,000 athletes, referees, and officials.

Internal and external transportation facilities that can transport spectators into and out of the host city and from venue to venue are also required by the Committee. These requirements are often met through renovations to already-built facilities or construction of entirely new facilities. These facilities include train/subway lines, roads, and airports.

#### Sports infrastructure[edit]

The host city is also required by the Olympic Committee to invest in sport-specific infrastructure that meets their requirements. Facilities must have specified minimum sizes and reach the specific seating and safety protocols which often require refurbishments or new construction, particularly less-used facilities such as natatoriums, velodromes and sliding tracks.

### Host city selection[edit]

The Winter Games require high mountains, especially for the alpine events. Traditionally, there were requirements of fairly short distance between the host city and the alpine slopes, which often has made smaller cities to be chosen as winter host cities, such as Lake Placid, Lillehammer and Sochi. After the 2012 when no democratic country bid for the Winter Games due to the high cost, a larger distance was accepted, allowing existing slopes to be used together with a large host city with more existing infrastructure, for example Milan at a distance of 410 km by road to Cortina.

### Operating costs[edit]

Once the necessary infrastructure is put in place, the Olympics require a large amount of spending on operating costs throughout the duration of the Games. Historically, the most significant operating costs for the hosts have been in event management, organization and preparation of the opening and closing ceremonies, and increasingly in recent years, security.

## Table[edit]

The table below lists the costs of hosting the Olympic Games. Due to the multitude of reporting methods, the table contains both the operating costs and total final costs (which include various infrastructure upgrades and security costs), as well as both known and not estimated figures. Net loss or gain are measured against the operating budgets. Intangible costs (such as to the environment and society) and benefits (through tourism) are not included here.

Olympiad  | Host  | Final Operating
Budget  | Total Costs  | Taxpayer Contribution  | Profit/Loss  | Year Debt Paid Off  | Notes

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1896 Summer Olympics |  Athens |  | 3,740,000 ₯[6] |  |  |  | Donations by George Averoff of 1,000,000 ₯ covered potential losses
1900 Summer Olympics |  Paris |  |  |  |  |  |
1904 Summer Olympics |  St. Louis |  |  |  |  |  |
1908 Summer Olympics |  London |  | US$394,000 est.[6] |  |  £6,377  |  |
1912 Summer Olympics |  Stockholm |  |  |  |  |  |
1920 Summer Olympics |  Antwerp |  |  |  |  |  |
1924 Winter Olympics |  Chamonix |  | 3,500,000₣  | 2,000,000₣  |  |  |
1924 Summer Olympics |  Paris |  |  |  |  5,496,610₣[6] |  |
1928 Winter Olympics |  St. Moritz |  | CHF706,000  |  |  CHF104,800  |  |
1928 Summer Olympics |  Amsterdam |  | $1,183,000[6] |  |  $18,000  |  |
1932 Winter Olympics |  Lake Placid |  |  |  |  |  |
1932 Summer Olympics |  Los Angeles |  |  |  |  $1,000,000[6] |  |
1936 Winter Olympics |  Garmisch-Partenkirchen |  |  |  |  |  |
1936 Summer Olympics |  Berlin |  | $30,000,000[6] |  |  |  |
1948 Winter Olympics |  St. Moritz |  |  |  |  |  |
1948 Summer Olympics |  London | £761,688[7] |  |  |  £29,000[6] |  |
1952 Winter Olympics |  Oslo |  |  |  |  |  |
1952 Summer Olympics |  Helsinki |  | 1,580,000,000 mk[6] |  |  49,000,000 mk  |  |
1956 Winter Olympics |  Cortina d'Ampezzo |  |  | lira 460 million  |  |  |
1956 Summer Olympics |  Melbourne | A£5,400,000[7] |  |  | A£300,000[6] |  |
1960 Winter Olympics |  Squaw Valley | US$80 million[8] |  |  |  |  |
1960 Summer Olympics |  Rome |  |  |  |  |  |
1964 Winter Olympics |  Innsbruck |  |  |  |  |  |
1964 Summer Olympics |  Tokyo | US$72,000,000[7] | US$1,926,000,000[6] |  |  |  |
1968 Winter Olympics |  Grenoble |  |  |  |  |  |
1968 Summer Olympics |  Mexico City | US$176,000,000[7] |  |  |  |  |
1972 Winter Olympics |  Sapporo |  |  |  |  |  |
1972 Summer Olympics |  Munich | 1,972,000,000 DM[6] |  |  |  |  |
1976 Winter Olympics |  Innsbruck |  |  |  |  |  |
1976 Summer Olympics |  Montreal | CDN$207,000,000[9] | CDN$$1,596,000,000[9] |  |  CDN$990,000[9] | 2006  | A special tobacco tax was introduced in May 1976 to fund the loss
1980 Winter Olympics |  Lake Placid | US$49,000,000[10] | US$169,000,000[10] |  |  |  |
1980 Summer Olympics |  Moscow | US$231,000,000[11] | US$1,350,000,000[11]
US$2,000,000,000[6] |  |  US$1,190,000 deficit [citation needed] |  | This was the year that The United States and 64 other Nations boycotted due to the Soviet invasion of Afghanistan.
1984 Winter Olympics |  Sarajevo | US$55,400,000[12] | US$110,900,000[12] |  |  US$10,000,000 [12] |  | The first Olympics since 1948 to make a profit
1984 Summer Olympics |  Los Angeles | US$320,000,000[13] | US$413,000,000[13] | $75,000,000[14][15] |  US$250,000,000[citation needed] | 1984  | The first Summer Olympics since 1932 to make a profit[15]
1988 Winter Olympics |  Calgary | CDN$438,000,000[16] | CDN$899,000,000[16] | CDN$425,000,000[16] | CDN$32,000,000[16] | 1988  |
1988 Summer Olympics |  Seoul | US$4,000,000,000 [citation needed] |  |  |  US$300,000,000[citation needed] | 1988  | A record profit for a government-run Olympiad[citation needed]
1992 Summer Olympics |  Barcelona | US$850,000,000[citation needed] | US$9,300,000,000[17] |  |  US$10,000,000[citation needed] | 1992  | Operating costs were put at 9.1% of the total cost. The vast majority of spending was to improve infrastructure.[18]
1992 Winter Olympics |  Albertville |  |  | US$1,200,000,000 on infrastructure[19] |  US$67,000,000[19] |  |
1994 Winter Olympics |  Lillehammer | US$1,100,000,000[20][21] |  | US$250,000,000[20][21] |  |  |
1996 Summer Olympics |  Atlanta | US$1,800,000,000[citation needed] |  | US$609,000,000[14] |  US$19,000,000[citation needed] | 1996  | Following the model of LA 1984, Atlanta achieved a healthy profit
1998 Winter Olympics |  Nagano |  |  | ~US$10,000,000,000 in new infrastructure[22] |  Net loss[citation needed] | Estimated 2015[22] | The full cost of the Nagano Olympics is unknown, due to Nagano Olympic Bid Committee vice-secretary general Sumikazu Yamaguchi ordering accounting documents burned[22]
2000 Summer Olympics |  Sydney | A$6,600,000,000 [23][24] | A$3,000,000,000 (A$3,635,000,000 borne by the public)[citation needed] | A$2,050,000,000[25] |  US$2.1 billion [26] | 2000  |
2002 Winter Olympics |  Salt Lake City | US$2,000,000,000 [27] | US$1,200,000,000 [28] | US$600,000,000[29] |  US$101,000,000[30] | 2002  | Additional security costs were incurred in the wake of the September 11 attacks
2004 Summer Olympics |  Athens | US$15,000,000,000[31] | US$9,000,000,000[32] | US$6,200,000,000[33] |  US$14,500,000[34] |  | The cost of the 2004 Athens Summer Games has been cited as a contributor to the Greek government-debt crisis. Many of the venues lie vacant and rotting; the Independent newspaper reports as many as 21 out of 22 are unused.[35]
2006 Winter Olympics |  Turin | US$700,000,000[36] |  |  |  US$3,200,000[37] |  | The Italian government created a lottery game to cover its financial losses.[citation needed]
2008 Summer Olympics |  Beijing | US$44,000,000,000[38] |  |  |  CNY 1,000,000,000 (US$146,000,000)[39] | 2008  |
2010 Winter Olympics |  Vancouver | CDN$ 1,700,000,000 (US$1,260,000,000)[40] | US$ 6,400,000,000[41] | US$ 2,300,000,000[42] | CDN$ 1,900,000[43]
| 2014 [44] | Included in the total US$6,400,000,000 cost are the $1,000,000,000 for security, $2,500,000,000 for transportation extensions and upgrades, and $900,000,000 for the new Vancouver Convention Centre (An additional $554,000,000 was spent by the city including a portion on the Olympic Village).[41][45][46]
2012 Summer Olympics |  London | US$10,400,000,000[47] | US$14,600,000,000[48] | US$4,400,000,000[49] | GBP £nil[50] | 2012  | Additional costs include $90 million for converting the Olympic Stadium (London) to a football venue[51]
2014 Winter Olympics |  Sochi | US$51,000,000,000[52] |  |  |  US$53,150,000[53] |  | The most expensive Olympic Games in history, surpassing the previous record set by the 2008 Beijing Summer Olympic Games.[54]
2016 Summer Olympics |  Rio de Janeiro | US$13,100,000,000 [55][56] |  | US$11.6 billion [57][58] |  US$2.0 billion [59] |  |
2018 Winter Olympics |  Pyeongchang | US$2,190,000,000[60] | US$12,900,000,000[61] |  |  US$55,000,000[62] |  |
2020 Summer Olympics |  Tokyo | US$15,400,000,000 [63] | US$28,000,000,000 [64] |  |  |  |
2022 Winter Olympics |  Beijing | US$3.9 billion[65] |  |  |  US$52,000,000[66] |  |  |
2024 Summer Olympics |  Paris |  |  |  |  |  |
2026 Winter Olympics |  Milan and Cortina d'Ampezzo | US$1.6 billion[67] |  |  |  |  |
2028 Summer Olympics |  Los Angeles |  |  |  |  |  |
2032 Summer Olympics |  Brisbane |  |  |  |  |  |

## See also[edit]

* List of megaprojects
* Olympic Games

## References[edit]

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## External links[edit]

* What did Olympics bring Sydney