Ensuring Olympic success - after the games
As the Olympic torch is being passed to emerging economies, it is time to come up with innovative solutions and appropriate cost controls to finance the games.
To avoid cost overruns, the Republic of Korea is hosting the 2018 Winter Games in Pyeongchang, one of the smallest cities to host the Olympics since the Winter Games in Lillehammer, Norway, in 1994. Nevertheless, the ROK is expected to have spent $13 billion on the Games; nearly double the $7 billion originally projected, which has again ignited public debate about Olympic Games cost overruns.
In 2022, Beijing will co-host the Winter Olympics and become the first city to host both the Winter Games and the Summer Games, having hosted the Summer Olympics in 2008. Can the costs be contained?
