Hosting the Olympics is extremely expensive. The 1896 Summer Olympics, which were held in Athens, Greece, were actually fairly affordable. The Games cost $11 million that year, but now countries can spend $50 billion or more. The Games are so expensive now that it is becoming increasingly difficult to find sites that want to host. The largest expense associated with hosting the Olympics is infrastructure. The games themselves don’t cost a lot, but building new stadiums, arenas, and train lines is a costly affair. The Bolshoy Ice dome was built for the 2014 Winter Olympics in Sochi, Russia. The 91,000-capacity Bird’s Nest was built for the 2008 Summer Olympics in Beijing, China. The Tokaido Shinkansen, which connects Osaka to Tokyo, began operations just 9 days before the 1964 Summer Olympics in Tokyo. Shortly after the 1964 Games, Japan became the world’s second-largest economy and an economic superpower. For the 1992 Summer Olympics, Barcelona built an entire beachfront. Now the European city is one of the most visited places in the world. Tourism can help cities recoup the costs of hosting the Olympics, but sometimes that plan backfires. Albertville, France didn’t receive an influx of tourists following the 1992 Winter Olympics. On the other hand, Sochi, Russia has seen a significant uptick in tourism after hosting the 2014 Winter Olympics. The city also gained a KHL expansion team shortly after hosting the Games. Here’s a look at the countries that have spent the most on the Olympics. Keep watching to learn more.
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Written by: *Rob Cramer*
Narrated by: Adam Newmark
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CHAPTERS:
1896 Athens Summer Olympics
1964 Tokyo Summer Olympics
1992 Albertville Winter Olympics/1992 Barcelona Summer Olympics
2008 Beijing Summer Olympics
2014 Sochi Winter Olympics
2020 Tokyo Summer Olympics
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