How much do the Olympics cost and how do they manage to meet the budget? - ForumDaily
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How much do the Olympics cost and can they meet the budget

In the South Korean Pkhenchkhane the next winter Olympic Games are over. According to AP estimates, the total costs of their implementation reached 12,9 billion dollars - almost twice as much as planned.

Photo: twitter / Olympics @ Olympics

The Olympic Games are traditionally expensive for the organizing countries, and not everyone manages to return their investments, writes “Currently,«.

In 2016, a team of researchers from Oxford University analyzed the cost of holding the Olympic Games from 1960 to 2016: how much the organizers planned to spend and how much the final budget exceeded the initial estimates.

The most expensive summer games was the Olympics in London in 2012 ($ 15 billion), the most expensive in winter - Sochi-2014 ($ 21,9 billion). In the calculation included only expenses related to sports.

The cost of building roads, airports, hotels for tourists and other infrastructure were not considered.

The authors of the study calculated that the average cost of holding the Summer Olympics was $ 5,2 billion; winter - $ 3,1 billion

All countries that held the Games (summer and winter) always exceeded their stated budget. The cost of the Summer Olympics on average exceeded the stated budget by 176%, winter - by 142%.

The authors of the study note that Sochi-2014 has become the most expensive Olympiad since 1960 (both winter and summer).

“This is unusual,” the researchers write. “Given the fact that the cost of the winter Games is usually much lower than the summer Games.”

The organizers of the Beijing Olympics (exceeding 2%) and Vancouver (13%) came closest to the planned budget. And the planned and actual budgets of the sports part of the Olympic Games in Montreal differed the most: 720%, that is, almost eight times.

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