Five most expensive Games of all time

Next week, the Winter Olympics kick off in Milan and Cortina d'Ampezzo. Before the global sporting event kicks off, MASTERS takes a look at another ranking: the numbers. These are the five most expensive Olympic Games of all time.

Sochi 2014 | Winter Games in Russia

According to the Oxford Olympics Study, the Sochi Winter Olympics are by far the most expensive Games ever. Russia spent a whopping $51 billion on this prestigious project, which equates to approximately €47 billion. For comparison, that's more than Iceland's gross national product in the same year.

It's remarkable that only a small portion of this amount went to sports facilities. The real expenditure was on the complete reconstruction of the region: a new airport, highways, hotels, and a complete winter sports area; right in the middle of a subtropical coastal town. Because snow wasn't a given, thousands of cubic meters of artificial snow were produced and frozen in advance.

Beijing 2008 | Summer Games in China

Officially, China kept the budget modest, but independent sources like Business Insider and The Washington Post estimated the total cost at $45 billion, or approximately €41,4 billion. Besides the iconic stadiums, significant investments were made in infrastructure: subway lines, highways, and urban renewal that forever changed Beijing's skyline.

To improve air quality, hundreds of factories were temporarily closed and clouds were “regulated away” with silver iodide.

London 2012 | Summer Games in the United Kingdom

The British Games began optimistically with a budget of £9 billion, but according to the UK Public Accounts Committee, the final budget was just under $18 billion, which equates to approximately €16,6 billion. This amount was partly spent on sports facilities, but mainly on the complete redevelopment of East London.

Tokyo 2020 | Summer Games in Japan

What were supposed to be the futuristic Tokyo Games ended in a sober, spectator-free edition due to the coronavirus pandemic. According to the Japan Board of Auditors, the total costs reached $15,4 billion, or €14,2 billion. Besides the one-year postponement, the pandemic brought an avalanche of additional expenses: testing, security, cancellations, rescheduling; everything had to be done again.

The Games were indeed sustainable: athletes slept on recyclable cardboard beds. Not only environmentally friendly, but also, according to rumors, intended to discourage overly intimate nighttime activities…

Rio de Janeiro 2016 | Summer Games in Brazil

According to the Oxford Olympics Study, the total cost of the Rio Games was approximately $13,1 billion, or around €12 billion. During a period of economic crisis and political chaos, Brazil built stadiums, villages, and transportation networks that now, a few years later, are largely unused or dilapidated.

Yet Rio managed to surprise the world with an opening ceremony. The highlight? Top model Gisele Bündchen, who strutted down a 128-meter catwalk in a dazzling gown.