ABSTRACT
As Olympic Games become more gargantuan, they become more expensive and impose a larger urban footprint. Conservative estimates put the direct cost of hosting the last three Summer Games at $4.5 billion for Rio, $6.8 billion for Beijing, and $10.4 billion for London. Costs also escalate because the Olympic Games are the most-watched media event. The city and the country are in the global eye during the immediate build up and the scrutiny is intense during the two weeks of the Games. The host cities want to put on a good face to the external world and internal audiences. A study of Summer Olympics from 1972 to 2008 found substantial differences between initial estimate and actual spending. There is a variety of reporting errors and underestimated lack of transparency that makes assessing Olympic costs more like a guesstimation than an estimation.
