It’s finally here! The event of the year that has had the whole world hyped for the past few months is upon us.
Whether you’re watching it from your sofa or the stadium itself, the next two weeks will be all Olympics all the time, but have you ever wondered how much this epic event costs? From tickets to transport and venues to villages here’s the breakdown of some of the serious investment needed to host (and attend!) the Olympics.
The official cost of the most expensive ticket is cleverly priced at £2,012, but this is from the Olympic website. Away from the official site and into the black market you are likely to find tickets being sold for up to 10 times the original price!
LOCOG (London Organising Committee of the Olympic and Paralympic Games) have a budget of £2bn to put towards running the events and other miscellaneous costs. £700m of this budget has been raised by sponsors of the games. If you somehow didn’t already know, these sponsors include Coca-Cola, Visa and McDonalds.
£82m is the price tag of the opening and closing ceremonies. These ceremonies are the most highly anticipated parts of every games and are always subject to tight scrutiny, and every now and then a bit of praise as well!
Olympic and Paralympic Village
The money spent to house the world’s top athletes comes to a whopping £935m. The village has room to house 17,000 athletes and offers the Olympians’ shops, restaurants, medical facilities and large green spaces to chill out in.
A total of £1.1bn has been spent renovating and building Olympic sites. Many of these sites are temporary and won’t be used again.
£553m will be spent on security, not including police and the armed forces. Surprisingly this budget still wasn’t enough and additional help from the army has been brought in.
Police and Army Services
£475m is the cost of having police and army services on site and around the Olympics.
On top of what is already being spent on transport an additional £894m has gone into bettering the system. This budget also included paying for ticket holders’ free travel.
All in all, the London Olympics cost around £11bn, but what a show! The return on investment for the UK remains to be seen…