Russia is spending a whopping $51 billion on the Winter Olympics in Sochi, topping the $40 billion spent by China on the 2008 Summer Olympics which had three times the number of events. In comparison, Vancouver spent a mere $8.7 billion when it hosted the Winter Olympics in 2008.
Costs have accelerated dramatically with the vast majority of Sochi’s flagship projects coming in catastrophically over budget. Chief among these is the Laura Biathlon and Ski Complex which was originally supposed to cost $500 million. It is now estimated that final costs will top $2.7 billion.
Likewise, the Fisht Olympic Stadium was originally due to cost $49 million. The cost has now ballooned to approximately $519 million – 10 times higher than planned. It doesn’t stop there – some observers have predicted the end price may reach a staggering $700 million.
This chart shows the original and actual estimated costs of 2014 Winter Olympic venues.
The Statista "Chart of the Day", made available
under the Creative Commons License CC BY-ND 3.0, may be used
and displayed without charge by all commercial and
non-commercial websites. Use is, however, only permitted with
proper attribution to Statista. When publishing one of these graphics,
please include a backlink to the respective infographic URL.
The Statista "Chart of the Day" currently focuses
on two sectors: "Media and Technology", updated
daily and featuring the latest statistics from the media,
internet, telecommunications and consumer electronics
industries; and "Economy and Society", which
current data from the United States and around the
world relating to economic and political issues as well as
sports and entertainment.
For individual content and infographics in your Corporate Design,
please visit our agency website
Any more questions?
Get in touch with us quickly and easily. We are happy to help!