10 Interesting Facts about Olympic Games Costs and Finances

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The Olympic motto, "Citius, Altius, Fortius" means "Faster, Higher, Stronger." In theory, the Olympic Games are supposed to embody these ideals; however, in practice, the Games often fall short, especially when it comes to cost and financing. From the most expensive Games in history to some of the most corrupt, learn more interesting facts about Olympic Cost and Finances here.

1. The top three most expensive Olympic sports in terms of training cost are shooting, sailing, and equestrian.

2. In 1936, the German government paid about US$25 million to stage the Olympics in Berlin. In 1972, when the Olympics were held in Munich, it cost almost 70 times that amount.

3. Mismanagement of the 1976 Montreal Games left the city with a US$1.5 billion debt that took three decades to pay off. “The Big-O,” Montreal’s Olympic stadium, was nicknamed “The Big O-W-E.”

4. In 2013, Pope Francis met a large delegation of Olympic leaders and warned them about the over-commercialization of Olympic athletes. He argued that athletes are reduced to mere trading objects if the Games are seen only in economic terms.

5. The most expensive Games in history were the 2014 Winter Olympics in Sochi at over US$50 billion. It was originally budgeted at US$12 billion.

6. The 1998 Nagano Olympics in Japan went over its original budget by 56%. Amid allegations of corruption, entire boxes of financial records were allegedly burned, and the total cost of Nagano still is unknown.

7. Beijing’s US$423 million Bird’s Nest Stadium costs US$11 million a year to maintain. Today, tourists can ride a Segway around the Olympic stadium for US$20.

8. The U.S. Olympic Committee offers medal bonuses for U.S. athletes: $25,000 for gold medal winners, $15,000 for silver, and $10,000 for bronze. Other countries offer less or more.

9. The fireworks at the opening ceremony of the Beijing Olympics cost roughly US$1.3 million. The closing ceremony fireworks cost US$90,000.

10. Every potential 2022 Olympic host city with a democratically elected government pulled out of the bidding, many citing cost concerns.

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