How much money did Greece lose in the 2004 Olympic Games?

How did the 2004 Olympics affect Greece?

” Greek Olympic officials insist the scale of the country’s dire financial problems – and its staggering national debt of $382 billion – are is simply too big to be blamed on the 2004 Games budget. … That said, Athens also benefited from infrastructure development and the Greek public debt is $400 billion.

How much money did the 2004 Olympics make?


Host City Year Profit/Loss
Nagano Winter Olympics 1998 Net loss
Sydney Summer Olympics 2000 US$2.1 billion
Salt Lake City Winter Olympics 2002 US$101,000,000
Athens Summer Olympics 2004 US$14,500,000

Who profits from the Olympics?

Because the IOC is a non-profit organisation, 90 per cent of the revenues from the Games go straight back into sport and athlete development. In total, around USD 2.5 billion is put towards the staging of the Olympic Games, to ease the financial burden on the host cities.

Did the Olympics ruin Greece?

Simply put, the economic freefall of Greece may not have been brought by the Olympics, but the event certainly acted as a catalyst. … The Greek crisis was so abysmal that it even threatened to damage the euro.

What were the most expensive Olympic Games in history?

Sochi Olympics

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The 2014 Sochi Olympic games are so far the most expensive competitions since the world’s first Olympics in 1896. Russia hosted the games, and it is estimated that the total cost of hosting the games was at least $51 billion.

What benefits did the 2004 Olympic Games bring to Athens?

In total, approximately 90km of new roads were built ahead of the 2004 Games, while a further 120km were widened, and a new computerised traffic management system was also installed to help manage traffic around the city.

Who spent the most money on Olympics?

The Tokyo Olympics are set to be the most expensive Olympics on record. According to officials, the budget is $15.4 billion, but Japanese government auditors have said total spending tops $20 billion, almost three times the original forecast of around $7.4 billion when Tokyo put together its bid for the Olympics.