Olympics: From Boon to Bust and Back Again

The financial landscape of the Olympics has transformed dramatically over time, reflecting a cyclical pattern of boom and bust. The costs for hosting the Games have surged, particularly in major countries like Russia and China, reaching tens of billions of dollars. In contrast, the upcoming Paris Olympics aim to remain under $10 billion, potentially marking the lowest expense since the 1984 Los Angeles Games, which succeeded due to pre-existing sports infrastructure. The bidding environment has fluctuated, with initial reluctance post-Munich, shifting to significant competition by the 1990s and 2000s. Remarkably, Brisbane's unopposed bid for the 2032 Summer Games signals a potential shift back toward less competitive bidding scenarios.