https://www.vox.com/world/2018/2/23/1700...yeongchang
LOOK AT HOW THESE MOTHERS LIE ALL THE TIME
LOOK AT HOW THESE MOTHERS LIE ALL THE TIME
Quote:How 9/11, dictators, and the IOC’s business model explain why hosting is so expensive
Many recent Olympic Games have had some eye-popping price tags. The Beijing Summer Olympics in 2008 cost $40 billion. The Sochi Winter Olympics in 2014 cost $51 billion. The 2016 Summer Olympics in Rio de Janeiro cost at least $13 billion, and the Pyeongchang Games are expected to cost around the same.
Back in 2000, the Summer Olympics in Sydney cost just around $5 billion. The cost of Olympic Games can vary based on a lot of variables, but the broad trend is clear: It’s becoming a lot more expensive.
Allen Sanderson, a sports economist at the University of Chicago, says a lot of the modern uptick in costs can be traced to something that has nothing to do with building stadiums or even sports at all: It’s tied to fear of terrorism.
After the 9/11 terrorist attacks, the cost of security at the Olympics skyrocketed. The first Summer Olympics held after the attacks were the 2004 Olympics in Athens, Greece. Those games cost more than $15 billion, and a big part of that was because the city spent tons of money trying to protect the games from a potential terrorist attack.
Sanderson says that post-9/11 security “adds between $2 and 5 billion to the price tag to start with.”
Another contributing factor for price is what could be called the autocrat effect. The two most expensive Summer Olympics and Winter Olympics in history were hosted by China and Russia respectively — Beijing in 2008, which cost $40 billion, and Sochi in 2014, which cost $51 billion. Analysts say the fact that they are both large, non-democratic countries helps explain why they set records for how much they spent.