1)Cost of Olympic Games 2) Overview 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) Cost Bidding 5 out of 9 cities selected for bidding by IOC on 18 May 2004 Hosting Fee in 2012: U.S $150,000 London won the right to host the 2012 Games with 54 votes to Paris' 50 4) Cost Bidding Graph 5)Costs for Hosting Operational Costs (OCOG) Technology Costs Workforce Costs Administration Costs Transportation Costs Catering & Medical Services Security costs Non-Operational Costs (Non-OCOG) Direct Olympic Villages International Broadcast Centre Media & Press Centre Indirect Infrastructure Hotel Upgrade Costs 6)Cost of Olympic Games 7) Cost OverRun 8)Economic impact of OLYMPIC GAMES 1. Identifying the impact 2. Evidence from the past games 3. ATHENS & outlook of Greek Economy 9) -GDP & Employment Impact 10) ATHENS-Slowdown Economy Smallest Country. Total cost EXCEEDS Estimate cost leads to Downfall. Even the villages lands are used to conduct OLYMPICS. Widening Government Budget Deficit. 11) Scam 2014 Sochi Russia

1. Presentation by:
Pankaj Sultane
Cost
of
Olympic Games

2. Overview
• 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. Cost Bidding
2012 host city election – bidding results
City Country Round 1 Round 2 Round 3 Round 4
London Great Britain 22 27 39 54
Paris France 21 25 33 50
Madrid Spain 20 32 31 —
New York
City
United States 19 16 — —
Moscow Russia 15 — — —
• 5 out of 9 cities selected for bidding by IOC on 18 May 2004
• Hosting Fee in 2012: U.S $150,000
• London won the right to host the 2012 Games with 54 votes to
Paris' 50

4. Cost Bidding

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

6. 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
Table:1

7. Cost OverRun
2

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

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

10. 2. Evidence from the Past Games
US$ m Operation cost Budgetary
Surplus/deficit
Munich 546 (687)
Montreal 399 (1228)
Los Angeles 467 335
Sydney 1700 0
-Financing Impact
Macro Economic Impact-some countries needs serious attention.

11. -GDP & Employment Impact

12. 3. ATHENS-Slowdown Economy
• Smallest Country.
• Total cost EXCEEDS Estimate cost leads to Downfall.
• Even the villages lands are used to conduct OLYMPICS.
• Widening Government Budget Deficit.

13. 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

14. Conclusion

15. Bibliography
• www.theguardian.com/sport/2012/oct/23/london-2012-olympics-cost-total
• www.theguardian.com/sport/blog/2013/oct/09/sochi-2014-olympics-money- corruption
Table 1&2: "Olympic Proportions: Cost and Cost Overrun at the Olympics 1960-2012". Flyvbjerg, Bent;
Allison Stewart (2012). Working Paper. Saïd Business School, University of Oxford.
Table 1:
• www.telegraph.co.uk/sport/olympics/2307426/London-2012-must-learn-from-the-1bn-Sydney-
hangover.html
• "Official Report of the Games of the XXIIIrd Olympiad Los Angeles, 1984". International Olympic
Committee. 1985.
• "How the 2004 Olympics Triggered Greece's Decline - Bloomberg Business". Gibson, Owen (Oct
24, 2012).
• "Olympic Games 2012 olympics olys,Paralympics 2012,Olympic legacy,Olympic Stadium,London
(News),UK news,Politics,Sport". The Guardian (London).
• "Sochi 2014: the costliest Olympics yet but where has all the money gone?". The Guardian.
1. PricewaterhouseCoopers European Economic Outlook June 2004
2. Preuss (2004)
3.Source: Greek Statistical Service, European Commission forecasts for 2004