But are the Olympics really a good deal for host cities? The evidence suggests a resounding no. Host cities almost always blow their budget on the Games, having to invest heavily in specific sporting facilities, as well as accommodation and transportation for the influx of athletes and tourists.
The delayed Tokyo Games in 2021, for example, ended up costing an (£12 billion), exceeding the proposed budget by 244%. And it was a similar story four years before – the Rio Olympics than the initial proposal.
As part of the bidding process to stage the Games, potential host cities and governments are required to these costly overruns. So, given the financial drain a home Olympics so often proves to be, it is no surprise that there has been a steady decline in the number of formal bids to host the Games over the past decade.
A total of 11 cities submitted applications to host the 2004 Athens Olympics, followed by ten bids for Beijing in 2008 and nine for London in 2012. After London there was a significant reduction. The 2016 Olympics was awarded to Rio from just four bids, 2020 went to Tokyo from three and there were only two bids submitted by cities wanting to host the 2024 Games.
This declining interest prompted the International Olympic Committee (IOC) to award the 2028 Olympics to Los Angeles, the only other bidder for the 2024 Games, without undertaking a public bidding process.
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For the full article, co-written by Doctoral Researcher and Dr Borja Garcia, visit .