The Rising Cost of the Olympics

THE RISING COST OF HOSTING THE OLYMPICS
THE OLYMPIC GAMES ARE SOME OF THE MOST EXPENSIVE MEGA EVENTS THE WORLD HAS EVER SEEN

COST OF HOSTING THE GAMES
London 2012 is on course to be one of the most expensive games ever - London 2012 $14.8 billion (Pound 9.5 billion)
London 2012 is set to cost $2 for every person on earth

GDP Per Capita LONDON 2012 BY THE NUMBERS ($840m (Pound 537m) Olympic Stadium

GDP Per Capita Canada $8,625 - Montreal 1978 $6 billion (pound 3.8 billion)

GDP Per Capita USSR $3,700 - Moscow 1980 "About $2 billion" (Pound 1.2 billion)

GDP Per Capita USA $16,635 - Los Angeles 1984 $785 million (Pound 5.5 million)

GDP Per Capita South Korea $4,571 - Seoul 1988 $4 billion (Pound 2.5 billion)

GDP Per Capita South Korea $15,691 - Barcelona 1992 $11.4 billion (pound 7.3 billion)

GDP Per Capita Spain $29,077 - Atlanta 1996 $3.8 billion (pound 2.4 billion)

GDP Per Capita Australia $20,731 - Sydney 2000 $4.2 billion (pound 2.7 billion)

GDP Per Capita Greece $20,860 - Athens 2004 $3 billion (pound 1.9 billion)

GDP Per Capita China $3,404 - Beijing 2008 $5.5 billion (pound 3.5 billion)

GDP Per Capita U.K. $38,891 - London 2012 $14.8 billion (pound 9.5 billion)

COST OVERRUNS OF THE GAMES
London 2012 is on course to cost 101% over budget
101% London 2012
60% Athens 2005
147% Atlanta 1996
4% Beijing 2008

LONDON 2012 BY THE NUMBERS $774 (pound 495) cost of an Olympic Torch

147% Barcelona 1992
796% Montreal 1996
90% Sydney 2000

LONDON 2012 BY THE NUMBERS $31,000 (pound 20,000) Fine for Streaking

PROFIT AND LOSS

Loss - Montreal 1976 $ 1 billion (pound 644 million)

Profit - Beijing 2008 $16 million (pound 10 million) claimed by the State

Atlanta 1996 $10 million (pound 6 million)

Barcelona 1992 $ 5 million (pound 3 million)

Los Angeles 1984 %250 million (pound 161 million)

Seoul 1988 $ 300 million (pound 193 million)

MEDALS VS GDP

LOS ANGELES 1984
GDP (in Trillions) CHINA $454,455 MEDALS WON 32 - USA $3,930,925 MEDALS WON 174 - GB $633,316 MEDALS WON 37

ATLANTA 1996
CHINA 2,054,666 MEDALS WON 50 - USA 7,838,475 MEDALS WON 101 - GB 1,198,721 MEDALS WON 15

BEIJING 2008
CHINA 8,214,366 MEDALS WON 100 USA 14,291,550 MEDALS WON 94 - GB 2,203,716 MEDALS WON 47

COST PER ATHELETE
London 2012 $1409523 (pound 908,090) - Beijing 2008 $498,730 (pound 321,348)
Athens 2004 $282,352 (pound 181,918) - Sydney 2000 $181,918 (pound 253,420)
Atlanta 1996 $368,288 (pound 237,250) - Barcelona 1992 $1,218,469 (pound 785,023)
Seoul 1988 $476,701 (pound 307,124) - Los Angeles 1984 $114,950 (pound 74,068)
Moscow 1980 $386,174 (pound 248,831) - Montreal 1976 $836,820 (pound 539,122)
Munich 1972 $85,216 (pound 54,900) - Mexico 1968 $31,645(pound 20,389)
Tokyo 1964 $373,907 (pound 240,884) - Athens 1896 (pound 1,196)

TELEVISION RIGHTS
Moscow 1980 $88,000,000 (pound 56,706,157)
Los Angeles 1984 $288,300,000 (pound 185,801,977)
Seoul 1988 $407,100,000 (pound 262,365,538)
Barcelona 1992 $635,600,000 (pound 409,649,474)
Atlanta 1996 $930,000,000 (pound 599,383,563)
Sydney 2000 $1,250,000,000 (pound 805,776,425)
Athens 2004 $700,000,000 (pound 451,199,614)
Beijing 2008 $2,000,000,000 (pound 1,289,238,001)

LONG TERM IMPACT OF THE GAMES IN UK

Total Economic Stimulus: +$7.9b (pound 5.1b)
Increase in economic output per year: +$2.1b (pound 1.37b)
Additional income for UK residents: +$463m (pound 296m)

WHERE THE MONEY IS COMING FROM
$3.4 billion National Lottery
$1.4 billion Greater London Authority
$9.4 billion central government
$391 million London Development Authority

Corporate Sponsorship: $155 m adidas, $124 m EDP, 14 m Lloyds, 77m Panasonic, $77 m BP

TOTAL ESTIMATED BUDGET $14.6 billion. THE RISING COST OF HOSTING THE OLYMPICS THE OLYMPIC GAMES ARE SOME OF THE MOST EXPENSIVE MEGA EVENTS THE WORLD HAS EVER SEEN COST OF HOSTING THE GAMES London 2012 $14.8 billion (£9.5 billion) COST PER ATHLETE London 2012 is on course to be one of the most expensive games ever London 2012 $1.409,523 (£908,090) London 2012 is set to cost $2 for every person on earth Beijing 2008 $498,730 (£321,348); Barcelona 1992 $I1.4 billion (£7.3 billion) Athens 2004 S $282,352 (2181,918) LONDON 2012 BY THE NUMBERS $840m ($537m) Olympic Stadium Sydney 2000 $393,329 (£253,420) Atlanta 1996 $368,288(£237,250) Barcelona 1992 $1,218,469 (£785,023) Montréal 1976 $6 billion (£3.8 billion) Seoul 1988 $476,70|(£307,124) Beijing 2008 $5.5 billion (£3.5 billion) Los Angeles 1984 $14,950 (£74,068) Sydney 2000 $42 billion Seoul 1988 $4 billion (£2.5 billion) Atlanta 1996 (£2.7 billion) $3.8 billion (£2.4 billion) Athens 2004 $3 billion (£1.9 billion) Moscow 1980 $386,174(£248,83) Moscow 1980 "About $2 billion" (E1.2 billion) Montréal 1976 $836,820 (£539,122) Los Angeles 1984 $785 million (É505 million) Munich 1972 $85,216(£54,900) GDP Per Canada $8,625 USSR $3,700 USA $16,635 South Korea $4,571 South Korea $15,691 Spain $29,077 Australia $20,731 Greece $20,860 China $3,404 U.K. $38,891 Mexico 1968 Capita $31,645(£20,389) COST OVERRUNS OF THE GAMES Tokyo 1964 $373,907(£240,884) London 2012 is on course to cost 1O1% over budget Athens 1896 $1,858.92(E1,196) 101% London 2012 147% Atlanta 1996 TELEVISION RIGHTS Moscow 1980 $88,000,000 (£56,706,157) 60% Athens 2005 LONDON 2012 BY THE NUMBERS 4% Beijing 2008 $774 (2495) Cost of an Olympic Torch Los Angeles 1984 $288,300,000 (£185,801,977) 796% Montréal 1976 Seoul 1988 $407,100,000 (£262,365,538) Barcelona 1992 $635,600,000 (£409,649,474) 417% Barcelona 1992 Atlanta 1996 $930,000,000 (£599,383,563) LONDON 2012 BY THE NUMBERS Sydney 2000 şi.250,000,000 (£805,776,425) 90% Sydney 2000 $31,000 (20,000) Fine for Streaking Athens 2004 $700,000,000 (£451,199,614) PROFIT & LOSS Loss | Profit Beijing 2008 $2,000,000,000 (£1,289,238,00I) Beijing 2008 $16 million (£10 million) *Claimed by the State Atlanta 1996 $10 million (£6 million) Montréal 1976 $I billion (£644 million) Los Angeles 1984 Seoul 1988 $250 million (E161 million) $300 million (E193 million) Barcelona 1992 $5 million (£3 million) MEDALS VS GDP LONG TERM IMPACT OF THE GAMES IN THE UK $14,291,550 +$7.9b (£5.1b) GDP (in Trillions) $7,838,475 $8,214,366 $3,930,925 $2,054,666 $2,203,716 $454,455 $633,316 $1,198,721 +$2.lb (£1.37b) 32 |174 37 50 101 15 100 94 47 +$463m (£296m) MEDALŞ WON CHINA USA GB CHINA USA GB CHINA USA GB Total Economic Stimulus Increase in economic output per year Additional income for UK residents Los Angeles 1984 Atlanta 1996 Beijing 2008 Where the money is coming from for London 2012 LONDON 2012 BY THE NUMBERS $3.4 billion £2.175 billion) National Lottery $624,575 (£400,000) 2012 Logo $1.4 billion (£925 million) Greater London Authority $9.34 billion (£5.975 billion) Central Government $391 million (£250 million) London Development Agency Corporate Sponsorship $155m (s100m) adidas $124m (280m) EDF $124m ($80m) Lloyds TSB $77m (£50m) $77m (£50m) $77m (850m) $68m (240m) $68m (240m) British Telecom Panasonic BP British Airways Nortel Total Estimated Budget: $14.6 billion (£9.325 billion) How good are country's at managing their Olympic budgets, presented by paydayloan.co.uk. Dollar exchange rate: $1 = £0.64 as of 09/07/2012. Infographic by furthr.co.uk Sources: "Olympic Proportions: The Cost and Cost Overrun at The Olympics 1960-2012" Said Business School, Oxford University "A Look At Olympic Costs" by C. Frank Zarnowski, Ph.D. "Spatial Analysis Of Mega-event Hosting: Olympic Host And Olympic Bid Cities" By Sertac Erten, IMF, New York Times, 10C, The Economist