The highly anticipated London Olympics will take place this summer and according to a new report, they could be the most expensive games ever.
The Oxford University’s Said Business School report only explored “sport-related costs” and did not take into account infrastructure projects, yet found that the London Olympic Games could easily be the most expensive games ever, totaling £8.4 billion.
The report included costs such as transport, opening and closing ceremonies, security, building the athletes’ village and venue construction. The sum of these high-priced inclusions takes the London Games 101% over its 2004 budget.
The 2008 Beijing Games are often believed to be the most expensive games staged, particularly because of the extensive opening and closing ceremonies, however it reportedly only totaled £3.13 billion, not £22 billion as is often suggested. Due to cheap labor, the Bejing stadium cost approximately 50% of what the London stadium is expected to total.