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.
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