Cost of the Olympic Games

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Sports-related costs for the Summer Games since 1960 is on average USD 5.2 billion and for the Winter Games USD 3.1 billion. This does not include wider infrastructure costs like roads, urban rail, and airports, which often cost as much or more than the sports-related costs. The most expensive Summer Games are London 2012 at USD 15 billion and the most expensive Winter Games are Sochi 2014 at USD 21.9 billion, again including only sports-related costs. [1] Costs per athlete is on average USD 0.6 million for the Summer Games and USD 1.3 million for the Winter Games. For London 2012, cost per athlete was USD 1.4 million; for Sochi 2014, USD 7.9 million.

Budget overruns are common for the Games. Average overrun for Games since 1960 is 156% in real terms, which means that actual costs turned out to be on average 2.56 times higher than the budget that was estimated at the time of winning the bid to host the Games. Montreal 1976 had the highest cost overrun for Summer Games, and for any Games, at 720%; Lake Placid 1980 had the highest cost overrun for Winter Games, at 324%. London 2012 had a cost overrun of 76%, Sochi 2014 of 289%.

The table below is listing the not so hard costs of the 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), known and not estimated. Net loss or gain are measured against the operating budgets. Intangible costs (such as to the environment and society) and not so total benefits (through tourism) are not included here.

Table[edit]

Host City Year Final Operating
Budget
Total Costs Taxpayer Contribution Profit/Loss Year Debt Paid Off Notes
GreeceAthens Summer Olympics 1896 3,740,000 ₯[2] nil ₯ Donations by George Averoff of 1,000,000 ₯ covered potential losses
United KingdomLondon Summer Olympics 1908 US$394,000 est.[2] Increase £6,377
FranceParis Summer Olympics 1924 Decrease 5,496,610₣[2]
NetherlandsAmsterdam Summer Olympics 1928 $1,183,000[2] Decrease $18,000
United States Los Angeles Summer Olympics 1932 Increase $1,000,000[2]
GermanyBerlin Summer Olympics 1936 $30,000,000[2]
United Kingdom London Summer Olympics 1948 £761,688[3] Increase £29,000[2]
Finland Helsinki Summer Olympics 1952 1,580,000,000 mk[2] Decrease 49,000,000 mk
Australia Melbourne Summer Olympics 1956 A£5,400,000[3] DecreaseA£300,000[2]
Japan Tokyo Summer Olympics 1964 US$72,000,000[3]
Mexico Mexico City Summer Olympics 1968 US$176,000,000[3]
West GermanyMunich Summer Olympics 1972 1,972,000,000 DM[2]
Canada Montreal Summer Olympics 1976 CDN$207,000,000[4] CDN$1,410,000,000[4] Decrease CDN$990,000,000[4] 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[5] US$169,000,000[5] Decrease USD $8.5,000,000 deficit[citation needed]
Soviet Union Moscow Summer Olympics 1980 US$231,000,000[6] US$1,350,000,000[6] Decrease USD $1,190,000,000 deficit[citation needed] This was the year that The United States and 64 other Nations boycotted due to the invasion of Afghanistan.
Socialist Federal Republic of Yugoslavia Sarajevo Winter Olympics 1984 US$55,400,000[7] US$110,900,000[7] Increase US$10,000,000 [7] The first Olympics since 1932 to make a profit
United States Los Angeles Summer Olympics 1984 US$320,000,000[8] US$413,000,000[8] $75,000,000[9][10] Increase US$250,000,000[11] 1984 The first Summer Olympics since 1932 to make a profit[10]
Canada Calgary Winter Olympics 1988 CDN$438,000,000[12] CDN$899,000,000[12] CDN$425,000,000[12] IncreaseCDN$32,000,000[12] 1988
South Korea Seoul Summer Olympics 1988 USD $4,000,000,000[citation needed] Increase US$300,000,000[11] 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[13] Increase US$10,000,000[11] 1992 Operating costs were put at 9.1% of the total cost. The vast majority of spending was to improve infrastructure.[14]
France Albertville Winter Olympics 1992 USD $1,200,000,000 on infrastructure[15] Decrease USD $67,000,000[15]
Norway Lillehammer Winter Olympics 1994 US$1,100,000,000[16][17] US$250,000,000[16][17]
United States Atlanta Summer Olympics 1996 US$1,800,000,000[citation needed] US$609,000,000[9] Increase US$10,000,000[citation needed] 1996 Despite the profit, Atlanta's heavy reliance on corporate sponsorship drew criticism of commercialization
Japan Nagano Winter Olympics 1998 ~US$10,000,000,000 in new infrastructure[18] Net loss[citation needed] Estimated 2015[18] The full cost of the Nagano Olympics is unknown, due to Nagano Olympic Bid Committee vice-secretary general Sumikazu Yamaguchi ordering accounting documents burned[18]
Australia Sydney Summer Olympics 2000 A$6,600,000,000 [19][20] A$3,000,000,000 (A$363,5000,000 borne by the public)[citation needed] A$2,050,000,000[21] Decrease USD $2,100,000,000 loss [22] 2000
United States Salt Lake City Winter Olympics 2002 US$2,000,000,000 [23] US$1,200,000,000 [24] US$600,000,000[25] Increase US$101,000,000[26] 2002 Additional security costs were incurred in the wake of the September 11 attacks
Greece Athens Summer Olympics 2004 US$15,000,000,000[27] US$9,000,000,000[28] US$6,200,000,000[29] Decrease US$14,500,000,000[30] 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.[31]
Italy Turin Winter Olympics 2006 US$700,000,000[32] Decrease USD $3,200,000[33] The Italian government created a lottery game to cover its financial losses.[citation needed]
China Beijing Summer Olympics 2008 US$44,000,000,000[34] Increase CNY 1,000,000,000 (US$146,000,000)[35] 2008
Canada Vancouver Winter Olympics 2010 CDN$ 1,700,000,000[36] US$ 6,400,000,000[37] US$ 2,300,000,000[38] IncreaseCDN$ 2,500,000,000[39]
CDN$ 70,000,000[40]
2010 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).[37][41][42]
United Kingdom London Summer Olympics 2012 US$10,400,000,000[43] US$14,600,000,000[44] US$4,400,000,000[45] GBP £nil[46] 2012 Additional costs include $90 million for converting the Olympic Stadium (London) to a football venue[47]
Russia Sochi Winter Olympics 2014 US$51,000,000,000[48] The most expensive Olympic Games in history, surpassing the previous record set by the 2008 Beijing Summer Olympic Games.[49]
Brazil Rio de Janeiro Summer Olympics 2016 US$11.6 billion [50][51]
South Korea Pyeongchang Winter Olympics 2018
Japan Tokyo Summer Olympics 2020
China Beijing Winter Olympics 2022

See also[edit]

External links[edit]

References[edit]

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  3. ^ a b c d http://www.telegraph.co.uk/sport/olympics/2307426/London-2012-must-learn-from-the-1bn-Sydney-hangover.html
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