The Olympic Games not only bring together elite athletes to compete on a global stage, but they also provide host nations with an opportunity to showcase their countries to the world. Successfully leveraging the Olympics as a promotional event can result in a tourism boom with financial rewards long after the closing ceremonies.
However, hosting the Olympics is a financially risky proposition that begins a decade before the events are actually held. Cities must first convince their own countries and then the International Olympic Committee that they are the ideal venue: safe, with convenient transportation, and equipped with efficient and elaborate infrastructure. The process isn’t cheap. For instance, Chicago spent an estimated $100 million in its bid to host the 2016 Summer Games—and lost.
The next Summer Games will be hosted in Los Angeles in 2028.
With the rising costs associated with hosting, here are the top 10 most expensive Olympic Games:
01 Oct 2000: The Sydney Harbour Bridge is lit up with Fireworks after the Closing Ceremony of the Sydney 2000 Olympic Games, Sydney Australia. Mandatory Credit: Adam Pretty/ALLSPORT
10. 2000 Sydney Summer Games
$5 billion
The 2000 Sydney Olympics occurred in the last decade of the 20th century while the world grappled with globalization. As host to the prestigious Games, the city was able to frame itself as an up-and-coming location able to keep up with rapid change, but the results were mixed.
Opening Ceremony: 1976 Summer Olympics: Double exposure and overall view of Stephane Olympic cauldron with flame during Parade of Nations at Olympic Stadium. Montreal, Canada 7/17/1976 CREDIT: Heinz Kluetmeier (Photo by Heinz Kluetmeier /Sports Illustrated via Getty Images) (Set Number: X20682 TK2 R1 )
9. 1976 Montreal Summer Games
$6.1 billion
Opening Ceremony of the 1980 Summer Olympic Games. (Photo by Giuliano Bevilacqua/Sygma via Getty Images)
8. 1980 Moscow Summer Games
$6.3 billion
BEIJING, CHINA – FEBRUARY 04: General View as a firework display is seen above the stadium during the Opening Ceremony of the Beijing 2022 Winter Olympics at the Beijing National Stadium on February 04, 2022 in Beijing, China. (Photo by Clive Rose/Getty Images)
7. 2008 Beijing Summer Games
$6.8 billion
BARCELONA, SPAIN: The Olympic rings are set on the pitch during the opening ceremony of the XXVth Summer Olympics 25 July 1992 at Montjuic Stadium. Approximately 12,000 athletes, officials and coaches from 170 countries are participating in the games. (Photo credit should read MICHEL GANGNE/AFP via Getty Images)
6. 1992 Barcelona Summer Games
$9.4 billion
PARIS, FRANCE – JULY 26: The Olympic flag is rasied at the Place du Trocadero in front of the Eiffel Tower during the Opening Ceremony of the Olympic Games Paris 2024 on July 26, 2024 in Paris, France. (Photo by François-Xavier Marit-Pool/Getty Images)
5. 2024 Paris Summer Games
$9.7 billion
The Olympic Caldron is seen during the closing ceremony of the Rio 2016 Paralympic Games at the Maracana stadium in Rio de Janeiro on September 18, 2016. (Photo by Mauro Ujetto/NurPhoto via Getty Images)
4. 2016 Rio Summer Games
$13.7 billion
LONDON, ENGLAND – JULY 27: The Olympic Rings are seen rising during the Opening Ceremony of the London 2012 Olympic Games, directed by Danny Boyle, London spent an estimated £27m, the London opening ceremony was immediately seen as a tremendous success, widely praised as a “masterpiece” and “a love letter to Britain” at the Olympic Stadium on July 27, 2012 in London, England. (Photo by Ian MacNicol/Getty Images)
3. 2012 London Summer Games
$15 billion
TOKYO, JAPAN – JULY 23: Fireworks explode during the Opening Ceremony of the Tokyo 2020 Olympic Games at Olympic Stadium on July 23, 2021 in Tokyo, Japan. (Photo by Bai Yu/CHINASPORTS/VCG via Getty Images)
2. 2020 Toyko Summer Games
$20 billion
SOCHI, RUSSIA – FEBRUARY 23: Dancers form the Olympic rings during the 2014 Sochi Winter Olympics Closing Ceremony at Fisht Olympic Stadium on February 23, 2014 in Sochi, Russia. (Photo by Matthew Stockman/Getty Images)
