Which were the most expensive Olympic Games of this century and why are they so expensive?

The Paris 2024 Olympic Gameswhich began on July 26, represented a substantial investment for its realization, especially taking into account the impressive display of its opening ceremony that took place in different parts of the capital city. However, the figures are not close to those of other games such as Tokyo 2020 and London 2012.

The estimated costs of this type of event include both direct organizational expenses and investments in infrastructure and security. In many cases, host cities have to build new facilities or renew the existing ones for meet Olympic standardsand the construction of stadiums, swimming pools, athletics tracks, and other sports facilities is expensive. As is the preparation of the Olympic Village.

Improvements are also being made in the urban infrastructuresuch as roads, airports, public transport systems, and accommodation services, which are essential to handle the increase in visitors and ensure the smooth running of the Games. Also the Investments in technology and logistics necessary for the transmission of the event requires a significant amount of money.

High costs often spark debates about the viability and long-term economic impact of hosting the Olympics. A study by Oxford University estimated that the average cost of hosting the Games has tripled since 1960, particularly due to infrastructure expenditure.

How much did the 2024 Paris Olympics cost?

It is estimated that the Paris 2024 Olympic Games According to the data collected so far, they accumulate US$9.7 billionAlthough they have a significant amount of private investment, it is also necessary to manage other forms of financing to cover all expenses.

While around US$7.6 billion in private funding is expected to be allocated, the public sector will have to contribute approximately US$3 billion. Compared with the sums invested in the development of other Games, This edition was considered “austere”.

Which were the most expensive Olympic Games?

The previous edition of the Olympic Games, which were held in Tokyo in 2021postponed for a year due to the pandemic, is considered one of the most expensive in history.

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austerity. This is what the IOC had planned for the Tokyo 2020 Games, which were held last year due to the pandemic, and in the end they more than met the objective, according to the governing body of Olympism.

Some projections put the bill for this event at US$15 billion. However, in 2022, the Organizing Committee of the Games concluded that cost US$13 billiona figure higher than initially anticipated, partly due to delays and additional costs caused by the COVID-19 pandemic.

London 2012 ranks as the second most expensive this century. The British government invested in urban regeneration, building new stadiums and developing an Olympic village that was later converted into housing.

The Olympic Games of Rio de Janeiro 2016 and those of Beijing 2008 are also among those requiring the most investment. In the latter, a considerable part of the budget was allocated to the construction of new infrastructure, such as the Beijing National Stadium (known as the “Bird’s Nest”), which was also used in the 2022 Winter Games held in the city.