As the International Olympic Committee prepares to choose between Beijing (China) and Almaty (Kazakhstan) as the host of the 2022 Winter Olympics, a new report shows that the cost of last year's Games in Sochi, Russia, has been underestimated by billions of dollars. Ahead of the decision on 31 July, a study by Dr Martin Müller of the University of Birmingham finds that:

 

The Sochi Games cost $16bn in sports-related expenditure¹ alone - more than twice the official figure of $7bn

 

Total costs, including capital costs, amount to $55bn

 

Sochi is the most expensive Olympics ever in terms of cost per event and the second most expensive, after London, in terms of sports-related costs

 

Russia's goal of developing Sochi into a global resort has failed

 

$1.2bn per year of follow-up investment is required to maintain the underused infrastructure² (including transport networks, sporting venues³ and hotels)

 

Public opinion towards the Sochi Games and Russia as host has deteriorated⁴ over time

 

Dr Müller said: 'The two most striking results from this study are, firstly, that when everything is accounted for, just the sports-related costs of the Sochi Games amount to $16bn - more than twice the official figure - and, secondly⁵, that more than a billion dollars per year is still required to maintain the barely used infrastructure and subsidise the tourist industry.

 

'The main legacy⁶ of the Games is oversized infrastructure at inflated⁷ prices, paid for almost exclusively by the public. While this applies to many mega-events elsewhere - particularly in developing economies - the extent of expenditure and underutilisation in Russia is unparalleled.

 

'When counting all the costs associated with the Sochi Winter Olympics - including upgrades of the general infrastructure - we arrive at the stunning⁸ figure of $55bn. That's more than 10% of the annual federal budget of Russia.'

 

Dr Müller's study brings together the available information on operational costs, sports-related capital costs, and non-sports-related capital costs relating to the event. It is the first time the Sochi Games have been fully⁹ accounted for in this manner. Of the total figure of $55bn, 90% comes from capital costs, including sporting venues, the Olympic village, transport networks, hotels and power supplies.

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