It talks about cost of olyampic games bidding processes and winter olyampics

1. Presentation by:
Anshul Pareek
Cost
of
Olympic Games

2. Overview
• Origin: Ancient Greece, 3000 years ago
• First Olympic in 1896 in Athens
• 2012 Summer Olympics - 26 sports, 10568 Athletes, 204 Nations
• 2014 Winter Olympics -7 sports, 2873 Athletes, 88 Nations
• Governing Body: International Federation (IF)
• International Olympic Committee (IOC): sports, disciplines and events.
• London 2012 US$14.8 billion
Source: www.theguardian.com/sport/2012/oct/23/london-2012-olympics-cost-total
• Sochi 2014 Estimated US$51 billion
Source: www.theguardian.com/sport/blog/2013/oct/09/sochi-2014-olympics-money-
corruption

3. Bidding Process
• 7 Years prior to the game
• Host City Selection
• 50 Cities(including repeats)
• Tokyo as host city of 2020 Summer Olympics
• 2022 Winter Olympics currently underway and and will
conclude in 2015

4. Costs for Hosting
Operational Costs
(OCOG)
Non-Operational Costs
(Non-OCOG)
Direct Indirect
• Technology Costs
• Workforce Costs
• Administration Costs
• Security Costs
• Catering & Medical
Services
• Olympic
Villages
• International
Broadcast
Centre
• Media & Press
Centre
• Infrastructure
• Hotel
Upgrade
Costs

5. HOST CITY Budget(US) Total Cost(US) Profit/Loss
London,1948 ₤15000 ₤742268 ₤29000
Los Angeles,1984 $320 million $413 million $250 million
Barcelona,1992 $850 million $9.3 billion $10 million
Athens,2004 $15 billion $9 billion $14 billion
Beijing,2008 $44 billion $146 million
London,2012 $10.4 billion $14.6 billion $52.8 million
Sochi,2014 - $51 billion -
Rio De Janerio ,
2016
Cost of Olympic Games

6. Cost OverRun

7. Economic impact of OLYMPIC GAMES
1. Identifying
the impact
2. Evidence
from the past
games
3. ATHENS &
outlook of
Greek Economy

8. 1.Identifying the impact- Cost-Benefit Analysis

9. 2. Evidence from the Past Games
US$ m Operation
cost
Revenue Overall
Balance
Munich 546 1090 (687)
Montreal 399 936 (1228)
Los
Angeles
467 1123 335
Sydney 1700 1900 0
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Munich montreal Los
Angeles
sydney
Overall
Balance
Operation
cost

10. 3.ATHENS & outlook of GREEK
• Significant Slowdown Economy.
• Smallest Country
• Total cost EXCEEDS estimate cost leads to

11. Scam 2014 Sochi Russia
• Vladimar Putin-21 Fraud Contracts.
• $7 billion-14% of total expenditure.
• Unjustified project estimates.
• Loss to states:170 million at the stadium.
75 million at BOBSLEIGH venue