According to Said Business School experts, working at Oxford University, the most expensive Olympic games since 1960 are the following: games in London in 2012, in Barcelona in 1992, in Beijing in 2008, in Moscow in 1980, In Montreal in 1976, and in Sydney in 2000. The cost of the Olympics is indicated taking into account the current inflation.
The most expensive, according to experts, are the Olympic Games in London, which took place 4 years ago. For the Olympics, there was allocated an impressive amount of $14.6 billion. Nevertheless, the overrun of the originally planned budget reached 76%.
Thanks to the Olympics, held in Barcelona in 1992, the city was transformed, as none of the former Olympic capitals. The budget of the games was $9.69 billion, and its overspend reached a record 266%. Thanks to this, the Spanish metropolis has gained incredible popularity among tourists.
Eight years ago, the Olympics in Beijing passed almost without exceeding the budget. It amounted to no more than 2%. The costs are estimated at $6.81 billion. In general, according to Said Business School analysts, China's spending on the Olympics turned out to be more than $42 billion.
The cost of the 1980 Olympics in Moscow was $6.3 billion, but the experts could not clarify the amount of overspending. For the games in the Russian capital, almost 80 objects were constructed and reconstructed for sports competitions, which are currently in use.
For the Olympics in Montreal, held in 1976, the famous Big O stadium was built, whose construction was not completed even at the beginning of the games. Overexpenditure for the Olympics in Montreal reached unprecedented 720%. As a result, the city had to pay debts for a record 30 years.
The Olympic Games, held in Sydney 16 years ago, caused irreparable damage to the city's economy, experts believe. At the same time, they did not exceed the average budget of $5 billion, but the costs were 90% (on a median basis).
The Olympics in Brazil last year also cost a lot to the government of the country, analysts say. The cost of playing games in Rio did not exceed $4.1 billion, said Mayor Eduardo Paes. According to the Financial Times, this figure is 35% lower than the $6.4 billion announced in the qualifying round. Experts estimate the budget for the Olympics in the Brazilian Rio de Janeiro at $4.56 billion, and the excess of the initial budget was 51%.
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