By Lynne Gowers on 5th August 2016

Rio 2016 – the Olympic-sized cost of hosting the Games

Rio 2016

Anything do to with numbers fascinates us here at Boox. As Rio 2016 gets underway, we take a look at the eye-watering sums attached to staging the Olympic Games, and some of the trivia that goes along with them.

This year’s Games will cost Brazil an estimated US$12 billion (approx GB£9 billion), which has sparked protests throughout the country, including these scenes as the Olympic torch arrived in Rio de Janeiro ahead of the opening ceremony.

But how does this compare with the cost of other Olympic Games staged so far this century?

Russia 2014 Sochi Winter Olympics – US$51 billion
Even though it was was the most expensive in Olympic history, much of the Olympic park and village in the Russian city now lies deserted and overgrown.

UK 2012 London Summer Olympics – US$10.4 billion
A further US$90 million was spent on converting the main stadium at the Queen Elizabeth Olympic Park to a football ground, which will be the new home of West Ham United from the 2016/17 season.

Canada 2010 Vancouver Winter Olympics 2010 – US$1.3 billion

China 2008 Beijing Summer Olympics – US$8 billion
A budget only surpassed by Sochi Winter 2014.

Italy 2006 Turin Winter Olympics – US$700 million
The Italian government ingeniously created a lottery game to cover the hosting costs.

Greece 2004 Athens Summer Olympics – US$9 billion
The games have been cited as a contributor of Greece’s debt crisis.Much like Sochi, many of the venues have been left unused and left to ruin.

USA 2002 Salt Lake City Winter Olympics – US$2 billion
Addition funds were invested in increased security measures in the wake of the 9/11 terror attacks

Australia 2000 Sydney Summer Olympics – US$5 billion
Notwithstanding the cost, there’s no doubt that the Olympics is a massive global spectacle and we are sure that the world’s eyes will be on Rio for the remainder of the summer.

Best of luck to all the Olympians and Paralympians taking part in Rio 2016. Come on Team GB!

Your personal numbers might not be quite to the scale of those above, but see how the Boox app helps you get your head around your finances.

Lynne Gowers Written by Lynne Gowers

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