Sochi: the most expensive Olympics ever

Russia’s Sochi Winter Olympics was estimated to cost $12bn. The spend currently stands at $51bn. What went wrong? Simon Wilson reports.

What’s happened?

The Sochi Winter Olympics has cost $51bn, more than all the previous 21 Winter Olympics combined. In fact, next month’s Games will set a record for the most expensive Olympics ever.

Its cost far outstrips the $15bn final bill for the London Olympics and even the $40bn that China spent to create an era-defining national showcase for Beijing 2008.

This despite the fact that the Winter Olympics are a far smaller event than the summer [...]

MoneyWeek magazine

Latest issue:

Magazine cover
the final frontier

Staking a claim in space

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues
Shale gas 'fracking' promises to transform Britain's energy market. Find out what it is, what it means, and how to invest.

More from MoneyWeek

What you should really do with your money (2014 Edition)

How to buy and sell penny shares

A beginner's guide to investing in gold

How to invest in British fracking