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How Much It Costs Each Country to Host the Olympics

The Olympic Games have long been a symbol of international unity, athletic excellence, and cultural celebration. But behind the dazzling ceremonies and heart-stopping competitions lies a web of financial challenges and opportunities. From Athens 1896 to Paris 2024, the cost of hosting the Olympics has evolved dramatically, reflecting changes in global economics, politics, and the very nature of the Games themselves.

In this deep dive, we'll explore the financial stories behind 25 of the most intriguing Olympics in history. We'll uncover tales of unexpected profits and crippling debts, of cities transformed and taxpayers burdened. You'll learn how Montreal's 1976 Summer Games left a 30-year financial hangover, how Los Angeles 1984 revolutionized Olympic funding, and why Sochi 2014 became the most expensive Games ever.

From modest beginnings to multi-billion dollar spectacles, the Olympic financial journey is as thrilling as any athletic competition. It's a story of ambition, innovation, and, sometimes, cautionary tales. So get ready for a marathon through Olympic financial history. You'll never look at the Games the same way again.
 

1896 Summer Olympics (Athens, Greece)

1896 Summer Olympics (Athens, Greece)
  • $4.1 Million

The inaugural modern Olympics had a modest total cost of $4.1 million. Interestingly, potential losses were covered by a generous donation of $1.1 million from George Averoff, setting a precedent for private funding in the Olympic games. 

Despite the relatively small scale compared to modern standards, the Athens Olympics successfully revived the ancient tradition and laid the foundation for the global sporting event we know today. The games featured athletes from 14 nations, competing in 43 events across 9 sports. This Olympics marked the beginning of a new era in international sports competition.

Albert Meyer, Public domain, via Wikimedia Commons

1936 Summer Olympics (Berlin, Germany)

1936 Summer Olympics (Berlin, Germany)
  • $30 Million

The Berlin Olympics resulted in a substantial total cost of $30 million, reflecting the Nazi regime's determination to showcase Germany's power. These games were highly controversial due to the political climate of the time. Despite calls for boycotts, 49 nations participated. 

The games are remembered for Jesse Owens' four gold medals, defying Hitler's Aryan superiority myth. It was the first Olympics to be televised and to introduce the torch relay from Olympia to the host city. The spectacular opening ceremony and purpose-built facilities set a new standard for Olympic grandeur and propaganda.

Joe Haupt/1936 Berlin Olympics Photograph - German Olympic Team Marching in the Olympic Stadium in Berlin/CC BY SA 2.0/Flickr

1976 Summer Olympics (Montreal, Canada)

1976 Summer Olympics (Montreal, Canada)
  • $1.15 Billion

The Montreal Olympics is infamous for its financial disaster. With an initial budget of $207 million, costs ballooned to over $1.15 billion. The games resulted in a deficit of $718,560, which took until 2006 to pay off. A special tobacco tax was introduced to fund the loss. 

The main stadium, nicknamed "The Big O," became known as "The Big Owe" due to its exorbitant cost. This Olympics served as a cautionary tale for future host cities about the potential financial risks of hosting the games. Despite the financial woes, the games were memorable for Nadia Comaneci's perfect 10 in gymnastics.

Cameron Brow, CC BY-SA 4.0, via Wikimedia Commons

1984 Summer Olympics (Los Angeles, USA)

1984 Summer Olympics (Los Angeles, USA)
  • $413 Million

The Los Angeles Olympics marked a turning point in Olympic financial history. With a budget of $320 million and total costs of $413 million, it managed to generate a remarkable profit of $250 million. This was the first Summer Olympics since 1948 to make a profit. 

The success was attributed to the use of existing facilities and corporate sponsorships, setting a new model for Olympic financing. The games were boycotted by the Soviet Union and several other Eastern Bloc countries, but still saw 140 nations participate. The financial success of these games revitalized interest in hosting the Olympics.

CanonStarGal, CC BY-SA 4.0, via Wikimedia Commons

1992 Summer Olympics (Barcelona, Spain)

1992 Summer Olympics (Barcelona, Spain)
  • $9.3 Billion

Barcelona's Olympics had a budget of $850 million but saw total costs skyrocket to $9.3 billion. Despite this, they managed a $10 million profit. What's remarkable is that only 9.1% of the total cost went to operating expenses; the vast majority was spent on improving city infrastructure.

This approach transformed Barcelona, boosting tourism and urban development. The games are often cited as an example of how Olympics can be used as a catalyst for city-wide regeneration. These were also the first games since 1972 to be free of boycotts, marking the end of the Cold War era in Olympic politics.

Jordiferrer, CC BY-SA 3.0, via Wikimedia Commons

1996 Summer Olympics (Atlanta, USA)

1996 Summer Olympics (Atlanta, USA)
  • $1.8 Billion

Following the successful model of Los Angeles 1984, Atlanta achieved a healthy profit with its Olympics. The games had a budget of $1.8 billion and made a profit of $19 million. Notably, only $609 million came from taxpayers. 

These games are remembered for the Centennial Olympic Park bombing, but also for Muhammad Ali lighting the Olympic cauldron, a poignant moment in sports history. The Atlanta Olympics were criticized for over-commercialization but praised for their organization and the use of existing and temporary venues, which helped control costs.

ViennaUK, CC BY-SA 4.0, via Wikimedia Commons

2000 Summer Olympics (Sydney, Australia)

2000 Summer Olympics (Sydney, Australia)
  • $1.96 Billion

Sydney's Olympics had a substantial budget of $4.3 billion, with total costs reaching $1.96 billion. Despite the scale, they resulted in a $2.1 billion loss. The public bore $1.3 billion of the costs. 

However, these games are often cited as one of the most successful in terms of organization and atmosphere. They featured the largest number of athletes to that date and were praised for their environmental initiatives. The image of Aboriginal athlete Cathy Freeman lighting the cauldron and winning gold became an iconic moment, symbolizing reconciliation efforts in Australia.

Adam.J.W.C., CC BY-SA 2.5, via Wikimedia Commons

2004 Summer Olympics (Athens, Greece)

2004 Summer Olympics (Athens, Greece)
  • $9 Billion

The Athens Olympics came with a hefty budget of $15 billion, which they ended up well within after a total cost of $9 billion. However, the games resulted in a $14.5 million loss and have been cited as a contributor to the Greek government-debt crisis. 

Many of the expensive venues built for the games now lie vacant and deteriorating, with reports suggesting as many as 21 out of 22 are unused. This Olympics serves as a stark reminder of the potential long-term economic impacts of hosting the games without proper post-event planning. Despite the financial issues, the games were praised for their return to the Olympics' birthplace.

I, Alterego, took this photo and release under the terms of the GNU Free Documentation License, CC BY-SA 3.0, via Wikimedia Commons

2008 Summer Olympics (Beijing, China)

2008 Summer Olympics (Beijing, China)
  • $44 Billion

Beijing's Olympics set new records with its enormous budget of $44 billion. Despite the massive investment, the games managed to turn a profit of $146 million.

These Olympics were seen as China's coming-out party on the global stage, featuring spectacular opening and closing ceremonies and state-of-the-art facilities like the "Bird's Nest" stadium. The games were marked by concerns over air pollution, human rights issues, and allegations of underage gymnasts. However, they were also notable for Michael Phelps' record-breaking eight gold medals in swimming.

GOH CHAI HIN/AFP/Getty Images

2012 Summer Olympics (London, UK)

2012 Summer Olympics (London, UK)
  • $14.6 Billion

London's Olympics had a final budget of $8.4 billion, with total costs reaching $14.6 billion. Of this, $4.4 billion came from taxpayers. The games broke even, neither making a profit nor a loss. These Olympics were praised for their legacy planning, with many venues repurposed post-games.

The Olympic Park transformed East London, boosting regeneration in the area. The games were notable for their sustainability efforts and for being the first where every country sent female athletes. The opening ceremony, directed by Danny Boyle, was widely acclaimed for its creativity and representation of British culture and history.

Philip Pryke, CC BY 2.0, via Wikimedia Commons

2014 Winter Olympics (Sochi, Russia)

2014 Winter Olympics (Sochi, Russia)
  • $51 Billion

The Sochi Olympics became the most expensive in history, with a staggering budget of $51 billion, surpassing even the 2008 Beijing Summer Games. Despite the enormous cost, they managed a small profit of $53.1 million. 

The games were controversial due to concerns over LGBTQ+ rights in Russia, environmental impact, and allegations of corruption in the construction process. Many questioned the choice of Sochi, a subtropical resort town, for winter games. However, the Olympics showcased Russia's ability to undertake massive infrastructure projects, transforming Sochi into a year-round resort destination.

Stolbovsky, CC BY-SA 3.0, via Wikimedia Commons

2016 Summer Olympics (Rio de Janeiro, Brazil)

2016 Summer Olympics (Rio de Janeiro, Brazil)
  • $13.1 Billion

Rio's Olympics had a budget of $13.1 billion but faced significant challenges. The games resulted in a $2.0 billion loss, with taxpayers covering $11.6 billion. These Olympics were plagued by concerns over the Zika virus, water pollution in competition venues, and political instability in Brazil. 

Despite these issues, the games were notable for refugee athletes competing under the Olympic flag for the first time. The Olympics faced criticism for displacement of local communities and questionable legacy value, with many venues falling into disuse shortly after the games.

Rafael Henrique Serra, CC BY-SA 4.0, via Wikimedia Commons

2018 Winter Olympics (Pyeongchang, South Korea)

2018 Winter Olympics (Pyeongchang, South Korea)
  • $12.9 Billion

The Pyeongchang Olympics operated on a budget of $2.2 billion, with total costs reaching $12.9 billion. Despite the high costs, they managed to turn a profit of $55 million. These games were significant for the diplomatic thaw they encouraged between North and South Korea, with both countries marching under a unified flag. 

The Olympics featured new events like big air snowboarding and mixed doubles curling. They were also notable for the Russian team competing as "Olympic Athletes from Russia" due to a state-sponsored doping scandal, marking a unique moment in Olympic history.

??? (Kim Youngjun; @eun_gong), CC BY 2.0 KR, via Wikimedia Commons

2020 Summer Olympics (Tokyo, Japan)

2020 Summer Olympics (Tokyo, Japan)
  • $28 Billion

The Tokyo Olympics, postponed to 2021 due to the COVID-19 pandemic, had an initial budget of $15.4 billion which ballooned to $28 billion. These games faced unprecedented challenges, including being the first Olympics to be postponed and then held largely without spectators. 

The increased costs were due to pandemic-related measures and the delay. Despite the challenges, the games showcased resilience and adaptability in the face of a global crisis. New sports like skateboarding, sport climbing, and surfing were introduced, aiming to attract younger audiences.

Dick Thomas Johnson, CC BY 2.0, via Wikimedia Commons

2024 Summer Olympics (Paris, France)

2024 Summer Olympics (Paris, France)
  • $8.2 Billion

The Paris Olympics, currently underway, have a projected budget of $8.2 billion, with $3.22 billion coming from taxpayers. These games mark the third time Paris has hosted the Summer Olympics, making it the second city (after London) to host the games three times. The organizers have emphasized sustainability, aiming to halve the carbon footprint compared to previous games.

Iconic city landmarks are being used as venues, with beach volleyball at the Eiffel Tower and equestrian events at the Palace of Versailles. These Olympics introduce breaking (breakdancing) as a new sport and see the return of cricket after a 128-year absence. The games also aim for gender parity among athletes for the first time in Olympic history.

Pronoia, CC0, via Wikimedia Commons

1948 Summer Olympics (London, UK)

1948 Summer Olympics (London, UK)
  • $972,321

The 1948 London Olympics, known as the "Austerity Games," were held in the aftermath of World War II. With a modest budget of $972,321, they managed to turn a small profit of $37,019. No new venues were built; existing facilities were used to keep costs down. 

Athletes were housed in existing accommodations rather than an Olympic Village. Despite the austere conditions, these games symbolized hope and revival after the war. They were the first to be broadcast on home television, though very few British homes had TVs at the time.

Daily Herald Archive/SSPL/Getty Images

1964 Summer Olympics (Tokyo, Japan)

1964 Summer Olympics (Tokyo, Japan)
  • $1.93 Billion

Tokyo's first Olympics had a budget of $72 million but saw total costs soar to $1.93 billion. These games marked Japan's post-war re-emergence on the global stage. They were the first Olympics held in Asia and introduced many technological innovations, including the first use of computers to record results and the debut of satellite television broadcasts. 

The games also spurred massive infrastructure development in Tokyo, including the construction of the shinkansen (bullet train). These Olympics set new standards for Olympic organization and technology use.

shuets udono, CC BY-SA 2.0, via Wikimedia Commons

1988 Summer Olympics (Seoul, South Korea)

1988 Summer Olympics (Seoul, South Korea)
  • $4 Billion

The Seoul Olympics had a substantial budget of $4 billion and achieved a record profit of $479 million for a government-run Olympiad. These games marked South Korea's arrival as a major player on the world stage. They were notable for their near-universal participation, with only North Korea and Cuba boycotting. 

The games were marred by the Ben Johnson doping scandal, which brought attention to performance-enhancing drugs in sports. On a positive note, they helped spur democratic reforms in South Korea and showcased the country's economic miracle to the world.

Silas Low, CC BY-SA 4.0, via Wikimedia Commons

1994 Winter Olympics (Lillehammer, Norway)

1994 Winter Olympics (Lillehammer, Norway)
  • $1.1 Billion

The Lillehammer Olympics had a budget of $1.1 billion, with $250 million coming from taxpayers. These games are often cited as one of the most successful Winter Olympics, known for their excellent organization and picturesque setting.

They were the first Winter Games to be held in a different year from the Summer Games. The Olympics gained worldwide attention due to the Nancy Kerrigan-Tonya Harding scandal in figure skating. Lillehammer's games set new standards for environmental consciousness in the Olympics, with a strong focus on sustainability and minimal environmental impact.

Mahlum, Public domain, via Wikimedia Commons

1960 Summer Olympics (Rome, Italy)

1960 Summer Olympics (Rome, Italy)
  • $616.7 Million

The total cost of the Rome Olympics was $616.7 million. These Olympics are significant for several reasons. They were the first Summer Olympics to be broadcast on television across Europe, reaching a wide audience. These games saw the emergence of legendary athletes like Cassius Clay (later Muhammad Ali) and Abebe Bikila, who won the marathon running barefoot. 

Rome utilized its historic sites as backdrops for events, creating iconic images like wrestlers competing in the ancient Basilica of Maxentius. This approach of integrating the city's cultural heritage into the Olympics influenced future host cities.

Alex Dawson, CC BY-SA 2.0, via Wikimedia Commons

1980 Summer Olympics (Moscow, Soviet Union)

1980 Summer Olympics (Moscow, Soviet Union)
  • $1.35 Billion-$2 Billion

The Moscow Olympics had a budget of $231 million, but total costs estimates vary between $1.35 billion and $2 billion. These games were heavily impacted by politics, with 65 countries, led by the United States, boycotting due to the Soviet invasion of Afghanistan. 

This resulted in only 80 countries participating, the lowest number since 1956. Despite the boycott, the games saw several world records broken. The Olympics featured Misha the Bear, one of the most popular Olympic mascots ever. The games ended with a deficit, but exact figures are disputed.

© Vyacheslav Argenberg/ CC BY 4.0, via Wikimedia Commons

1952 Summer Olympics (Helsinki, Finland)

1952 Summer Olympics (Helsinki, Finland)
  • $291 Million

The Helsinki Olympics had a total cost of $291 million and managed to achieve a small profit. These games were significant as they marked the return of Germany and Japan to Olympic competition after World War II, and the debut of the Soviet Union in the Olympics. 

The Cold War tensions were evident, with separate Olympic villages for Eastern and Western bloc athletes. These games saw the emergence of Emil Zátopek, who won three gold medals in distance running. Helsinki's efficient organization and friendly atmosphere set a high standard for future Olympics.

Hugo Sundström, CC BY 4.0, via Wikimedia Commons

1998 Winter Olympics (Nagano, Japan)

1998 Winter Olympics (Nagano, Japan)
  • $10 Billion

The Nagano Olympics are notable for their financial opacity. While the exact costs are unknown, it's estimated that about $10 billion was spent on new infrastructure. Controversially, the vice-secretary general of the Nagano Olympic Bid Committee ordered the burning of accounting documents, making it impossible to determine the full cost. 

These games expanded the Winter Olympics program significantly, adding new events like curling and snowboarding. They're also remembered for the dramatic men's ice hockey tournament, where professionals from the NHL participated for the first time.

Christophe95, CC BY-SA 4.0, via Wikimedia Commons

2002 Winter Olympics (Salt Lake City, USA)

2002 Winter Olympics (Salt Lake City, USA)
  • $1.2 Billion

The Salt Lake City Olympics had a budget of $2 billion, with total costs of $1.2 billion and $600 million in taxpayer contributions. Despite the high costs, they managed a profit of $101 million. These games faced unique challenges, occurring just months after the September 11 attacks, which led to increased security measures and costs. 

The Olympics were also marred by a bidding scandal, but are remembered for exciting competitions and the emergence of new stars like Apolo Ohno. These games marked a successful return of the Olympics to the US after the 1996 Atlanta Summer Games.

Dave O, CC BY-SA 2.0, via Wikimedia Commons

2026 Winter Olympics (Milan and Cortina d'Ampezzo, Italy)

2026 Winter Olympics (Milan and Cortina d'Ampezzo, Italy)
  • $1.6 Billion

While these games are yet to occur, they're notable for their projected budget of $1.6 billion, which is relatively modest by recent Olympic standards. This reflects a new approach by the International Olympic Committee to make the games more sustainable and less burdensome on host cities.

It will be the first Olympics to be hosted by two cities, part of a trend towards joint bids to share costs and infrastructure needs. The games aim to utilize mostly existing or temporary facilities to minimize long-term costs and environmental impact, potentially setting a new model for future Olympics.

FABRICE COFFRINI/AFP/Getty Images