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CEOWORLD magazine - Latest - CEO Insider - Sport-Related Costs Of The Olympic Games

Education and Career

Sport-Related Costs Of The Olympic Games

Prof. Dr. Amarendra Bhushan DhirajProf. Dr. Amarendra Bhushan DhirajEducation and Career

Well, the exact cost is difficult to pin down, but hosting an Olympics is a financially risky proposition. From 1968 through 2014, the average Summer Olympic Games had an average sports-related cost of $5.21 billion , while the average Winter Olympics costs $3.11 billion, according to a study by Bent Flyvbjerg, Alexander Budzier, and Allison Stewart for the Saïd Business School.

They looked at the sports-related cost and cost overrun for most Olympic games since 1968. And these figures only include sports-related costs – inflation-adjusted, 2015 USD.

However, the title of the “most expensive Olympic games ever” goes to the Russia’s Sochi 2014 Winter Olympics – $21.9 billion.

Question: Is it worth it? And if so, for whom?

Answer: Countries that host the Olympics do it for the prestige and fame that comes with the athletes and media attention —- and are widely popular and appreciated.

Sport-Related Costs Of The Summer Olympic Games

GamesCountryYearEventsAthletesCost (Billion USD)
RomeItaly19601505338n/a
Tokyo Japan196416351520.282
Mexico CityMexico19681725516n/a
Munich Germany197219572341.009
Montreal Canada197619860486.093
Moscow Soviet Union198020351796.331
Los Angeles USA198422168290.719
Seoul South Korea19882378397n/a
Barcelona Spain199225793569.687
Atlanta USA1996271103184.143
Sydney Australia2000300106515.026
Athens Greece2004301106252.942
Beijing China2008302109426.810
London UK20123021056814.957
Rio Brazil2016306105004.557
Average23981775.213
Median23783974.791

Sport-Related Costs Of The Winter Olympic Games

GamesCountryYearEventsAthletesCost (Billion USD)
Squaw ValleyUSA196027665n/a
InnsbruckAustria19643410910.022
GrenobleFrance19683511580.888
SapporoJapan19723510060.117
InnsbruckAustria19763711230.118
Lake Placid USA19803810720.435
SarajevoYugoslavia1984391272n/a
CalgaryCanada19884614321.109
Albertville France19925718011.997
LillehammerNorway19946117372.228
NaganoJapan19986821762.227
Salt Lake CityUSA20027823992.520
TorinoItaly20068425084.366
Vancouver Canada20108625662.540
Sochi Russia201498278021.890
Average5516523.112
Median4614321.997
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CEOWORLD magazine - Latest - CEO Insider - Sport-Related Costs Of The Olympic Games
Prof. Dr. Amarendra Bhushan Dhiraj

Prof. Dr. Amarendra Bhushan Dhiraj

Prof. Dr. Amarendra Bhushan Dhiraj is a publishing executive and economist who is the CEO and editor-in-chief of The CEOWORLD magazine, one of the world’s most influential and recognized global news publications. Additionally, he serves as the chair of the advisory board for the CEOWORLD magazine. He received his Ph.D. in Finance and Banking from the European Global School, Paris, France. He earned his Doctoral Degree in Chartered Accountancy from the European International University Paris, France, and a Doctorate in Business Administration from Kyiv National University of Technologies and Design (KNUTD), Ukraine. Dr. Amarendra also holds a Master of Business Administration degree in International Relations and Affairs from the American University of Athens, Alabama, United States.

Prof. Dr. Amarendra Bhushan Dhiraj is CEO and editor-in-chief of CEOWORLD magazine. You can follow him on LinkedIn, Facebook, Twitter.
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