Cost of the Olympic Games

Cost of the Olympic Games

The Olympic Games have produced profits and losses for their host cities. The table below examines hard costs for the games excluding negative externalities, such as environmental and social costs, that are difficult to quantify.

Games Cost

Host City Tax Payer Contribution Final Cost Initial Budget Profit/Loss Year Debt Paid Off Notes
Los Angeles 1984 US$250 Million Profit[1] 1984 Considered the most financially successful modern Olympics, especially after the financial disaster of Montreal.
Seoul 1988 US$300 Million[1] 1988 A record profit for a government-run Olympiad.
Barcelona 1992 US$5 Million Profit[1] 1992
Lillehammer 1994
Atlanta 1996 US$500 Million[2] US$1.8 Billion $10 Million Profit 1996 Despite the profit, Atlanta's heavy reliance on corporate sponsorship caused many to consider the Games to be overly commercialized.
Nagano 1998
Sydney 2000 US$1.765 Billion Income[1]
Salt Lake City 2002 US$2 Billion [3] US$101 Million Profit[4] 2002 Additional security costs incurred since these Olympics occurred 5 months after the 9/11 terrorist attacks.
Athens 2004 US$15 Billion[5] US$6 Billion Net loss As of 2008, venues such as the Velodrome and Softball Stadium remain unused.
Torino 2006 US$3.6 Billion
Beijing 2008 US$43 Billion[6]
Vancouver 2010 US$165 Million[7] Cost estimates are at US$1 Billion
London 2012
Sochi 2014
Rio de Janeiro 2016

References

  1. ^ a b c d "Beijing Olympiad: Profit or Loss?". China Internet Information Center. http://www.china.org.cn/english/sports/111340.htm. Retrieved 2008-08-17. 
  2. ^ "The Olympic Legacy in Atlanta - [1999] UNSWLJ 38; (1999) 22(3) University of New South Wales Law Journal 902". Archived from the original on 2009-06-19. http://www.austlii.edu.au/au/journals/UNSWLJ/1999/38.html#Heading21. Retrieved 2009-06-16. 
  3. ^ Roberts, Selena (2002-02-04). "IOC's Rogge Steps into the Cold - Feb 4, 2002 - The New York Times". http://www.nytimes.com/2002/02/04/sports/olympics-notebook-ioc-s-rogge-steps-into-the-cold.html?partner=rssnyt&emc=rss. Retrieved 2010-02-13. 
  4. ^ "Salt Lake Tops Forecast - 2002-09-18 - The New York Times". 2002-09-18. http://www.nytimes.com/2002/09/18/sports/salt-lake-profit-tops-forecast.html?pagewanted=1. Retrieved 2010-02-13. 
  5. ^ "As Olympic glow fades, Athens Questions $15 Billion Cost - 2008-07-21 - The Christan Science Monitor". http://www.csmonitor.com/World/2008/0721/p04s01-wogn.html. Retrieved 2010-02-13. 
  6. ^ Ryan, Bob (2008-08-09). "Sparkling Display: Success Comes at a Price - 2008-08-09 - The Boston Globe". http://www.boston.com/sports/articles/2008/08/09/sparkling_display/?page=2. Retrieved 2010-02-13. 
  7. ^ "IOC head Rogge happy that 2010 Vancouver Games are on track - 2009-02-12 - TSN.com". http://www.tsn.ca/olympics/story/?id=266706. Retrieved 2010-02-13. 

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