One record that host city Tokyo probably didn’t want to claim was “most expensive Summer Olympics ever.” Per The Wall Street Journal, Tokyo 2020

Is hosting the Olympics a bad deal?

submited by

Style Pass

2021-07-31 14:00:19

One record that host city Tokyo probably didn’t want to claim was “most expensive Summer Olympics ever.” Per The Wall Street Journal, Tokyo 2020 will own the title with a $20B+ price tag.

One Oxford study looked at the previous 5 Olympics and found that sports-related costs averaged $12B; nonsports costs like transportation and security cost even more.

… the nature of construction often leads to cost overruns. These expenses are shouldered by the host cities, and every Olympics has run over budget by an average of 172% since 1960.

… and the international recognition and good times seem less and less appealing. As noted by Business Insider, fewer cities are even bidding for the event:

So, what cities want to beat Tokyo 2020’s “record” next? Paris will try in 2024 while Los Angeles will give it a go in 2028.

Look, you came to this site because you saw something cool. But here’s the deal. This site is actually a daily email that covers the important news in business, tech, and culture.