Cost of the Olympic Games

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The Olympic Games, considered to be the world's foremost international sporting event with over 200 nations participating,[1] has 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 US$5.2 billion 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 US$2 billion.[3]

Costs

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

General infrastructure

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 as well as referees and officials.

Internal and external transportation facilities that can transport spectators into and out of the host city as well as 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, airports

Sports infrastructure

The host city is also required by the Committee to invest in sport-specific infrastructure that meets their requirements. Facilities must reach the specific seating and safety protocols set by the Olympic Committee, often requiring refurbishments in order to do so, particularly less-used facilities such as natatoriums and velodromes.

Operating costs

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 event management, organization and preparation of the opening and closing ceremonies and increasingly in recent years, security.

Table

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.

Host City Year Final Operating
Budget 		Total Costs Taxpayer Contribution Profit/Loss Year Debt Paid Off Notes
GreeceAthens Summer Olympics 1896 3,740,000 ₯[6] Donations by George Averoff of 1,000,000 ₯ covered potential losses
France Paris Summer Olympics 1900
United States St. Louis Summer Olympics 1904
United Kingdom London Summer Olympics 1908 US$394,000 est.[6] Increase £6,377
Sweden Stockholm Summer Olympics 1912
Belgium Antwerp Summer Olympics 1920
FranceChamonix Winter Olympics 1924 3,500,000₣ 2,000,000₣
FranceParis Summer Olympics 1924 Decrease 5,496,610₣[6]
SwitzerlandSt. Moritz Winter Olympics 1928 CHF706,000 Decrease CHF104,800
NetherlandsAmsterdam Summer Olympics 1928 $1,183,000[6] Decrease $18,000
United States Lake Placid Winter Olympics 1932
United States Los Angeles Summer Olympics 1932 Increase $1,000,000[6]
Germany Garmisch-Partenkirchen Winter Olympics 1936
GermanyBerlin Summer Olympics 1936 $30,000,000[6]
Switzerland St. Moritz Winter Olympics 1948
United Kingdom London Summer Olympics 1948 £761,688[7] Increase £29,000[6]
Norway Oslo Winter Olympics 1952
Finland Helsinki Summer Olympics 1952 1,580,000,000 mk[6] Decrease 49,000,000 mk
Italy Cortina Winter Olympics 1956 lira 460 million
Australia Melbourne Summer Olympics 1956 A£5,400,000[7] DecreaseA£300,000[6]
United States Squaw Valley Winter Olympics 1960 US$80 million[8]
Italy Rome Summer Olympics 1960
Austria Innsbruck Winter Olympics 1964
Japan Tokyo Summer Olympics 1964 US$72,000,000[7] US$1,926,000,000[6]
France Grenoble Winter Olympics 1968
Mexico Mexico City Summer Olympics 1968 US$176,000,000[7]
Japan Sapporo Winter Olympics 1972
West GermanyMunich Summer Olympics 1972 1,972,000,000 DM[6]
Austria Innsbruck Winter Olympics 1976
Canada Montreal Summer Olympics 1976 CDN$207,000,000[9] CDN$1,410,000,000[9] Decrease CDN$990,000[9] 2006 A special tobacco tax was introduced in May 1976 to fund the loss
United States Lake Placid Winter Olympics 1980 US$49,000,000[10] US$169,000,000[10]
Soviet Union Moscow Summer Olympics 1980 US$231,000,000[11] US$1,350,000,000[11]
US$2,000,000,000[6] 		Decrease 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.
Socialist Federal Republic of Yugoslavia Sarajevo Winter Olympics 1984 US$55,400,000[12] US$110,900,000[12] Increase US$10,000,000 [12] The first Olympics since 1948 to make a profit
United States Los Angeles Summer Olympics 1984 US$320,000,000[13] US$413,000,000[13] $75,000,000[14][15] Increase US$250,000,000[16] 1984 The first Summer Olympics since 1932 to make a profit[15]
Canada Calgary Winter Olympics 1988 CDN$438,000,000[17] CDN$899,000,000[17] CDN$425,000,000[17] IncreaseCDN$32,000,000[17] 1988
South Korea Seoul Summer Olympics 1988 US$4,000,000,000 [citation needed] Increase US$300,000,000[16] 1988 A record profit for a government-run Olympiad[citation needed]
Spain Barcelona Summer Olympics 1992 US$850,000,000[citation needed] US$9,300,000,000[18] Increase US$10,000,000[16] 1992 Operating costs were put at 9.1% of the total cost. The vast majority of spending was to improve infrastructure.[19]
France Albertville Winter Olympics 1992 US$1,200,000,000 on infrastructure[20] Decrease US$67,000,000[20]
Norway Lillehammer Winter Olympics 1994 US$1,100,000,000[21][22] US$250,000,000[21][22]
United States Atlanta Summer Olympics 1996 US$1,800,000,000[citation needed] US$609,000,000[14] Increase US$19,000,000[citation needed] 1996 Following the model of LA 1984, Atlanta achieved a healthy profit
Japan Nagano Winter Olympics 1998 ~US$10,000,000,000 in new infrastructure[23] Decrease Net loss[citation needed] Estimated 2015[23] The full cost of the Nagano Olympics is unknown, due to Nagano Olympic Bid Committee vice-secretary general Sumikazu Yamaguchi ordering accounting documents burned[23]
Australia Sydney Summer Olympics 2000 A$6,600,000,000 [24][25] A$3,000,000,000 (A$3,635,000,000 borne by the public)[citation needed] A$2,050,000,000[26] Decrease US$2.1 billion [27] 2000
United States Salt Lake City Winter Olympics 2002 US$2,000,000,000 [28] US$1,200,000,000 [29] US$600,000,000[30] Increase US$101,000,000[31] 2002 Additional security costs were incurred in the wake of the September 11 attacks
Greece Athens Summer Olympics 2004 US$15,000,000,000[32] US$9,000,000,000[33] US$6,200,000,000[34] Decrease US$14,500,000[35] 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.[36]
Italy Turin Winter Olympics 2006 US$700,000,000[37] Decrease US$3,200,000[38] The Italian government created a lottery game to cover its financial losses.[citation needed]
China Beijing Summer Olympics 2008 US$44,000,000,000[39] Increase CNY 1,000,000,000 (US$146,000,000)[40] 2008
Canada Vancouver Winter Olympics 2010 CDN$ 1,700,000,000 (US$1,260,000,000)[41] US$ 6,400,000,000[42] US$ 2,300,000,000[43] IncreaseCDN$ 1,900,000[44]
 2014 [45] 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).[42][46][47]
United Kingdom London Summer Olympics 2012 US$10,400,000,000[48] US$14,600,000,000[49] US$4,400,000,000[50] GBP £nil[51] 2012 Additional costs include $90 million for converting the Olympic Stadium (London) to a football venue[52]
Russia Sochi Winter Olympics 2014 US$51,000,000,000[53] Increase US$53,150,000[54] The most expensive Olympic Games in history, surpassing the previous record set by the 2008 Beijing Summer Olympic Games.[55]
Brazil Rio de Janeiro Summer Olympics 2016 US$13,100,000,000 [56][57] US$11.6 billion [58][59] Decrease US$2.0 billion [60]
South Korea Pyeongchang Winter Olympics 2018 US$12,900,000,000[61] Increase US$55,000,000[62]
Japan Tokyo Summer Olympics 2021 US$15,400,000,000 [63] US$28,000,000,000 [64]
China Beijing Winter Olympics 2022 US$3.9 billion[65]
France Paris Summer Olympics 2024
Italy Milano Cortina Winter Olympics 2026
United States Los Angeles Summer Olympics 2028
Australia Brisbane Summer Olympics 2032

See also

References

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External links

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