• The most expensive Summer Olympics to date was Rio de Janeiro 2016, costing $23.6B

• London 2012 Olympics is in second place, costing $16.8B, and Tokyo 2020 is in third, costing $13.7B

• Atlanta 1996 was the last time the US hosted the Summer Games, costing $4.7B 

New research conducted by online casino site Playcasino.com analyzed data from The Council of Foreign Relations to create a ranking of the costliest Summer Olympics between 1992 and 2024 in US dollars. The data factored in the operational and construction costs each city spent overall to host the Summer Olympic Games and how much they exceeded the budget. 

#1 Rio de Janeiro 2016

The most expensive Summer Olympic Games was Rio de Janeiro 2016, costing $23.6B. After winning the rights to host the Olympics, Rio developed three modes of public transport – the Bus Rapid Transit (BRT), the metro and the Light Vehicle Rail System. The famous Brazilian city was the first to host the games in South America, which took place between the 5th and 21st August. The city spent the most money in Olympic history to host the games and overran its budget by 289%. 

#2 London 2012 

The London 2012 Summer Olympics was the second most costly, with a price tag of $16.8B. Once selected as hosts, London invested in ten new railway lines and 30 new bridges to promote greener travel. Money was also used to upgrade pedestrian and cycling routes across London. The English capital hosted the games from the 27th July to 12th August 2012 and overran its budget by 76%.

#3 Tokyo 2020

Tokyo 2020 hosted the third-most expensive Summer Olympics, costing $13.7B. Tokyo invested in eight new venues specifically for the games, including the new National Olympic Stadium for the opening and closing ceremonies. They incorporated sustainability features such as the use of renewable energy and barrier-free designs. The Japanese capital hosted the games between 23rd July and 8th August 2021 due to delays caused by the global COVID-19 pandemic. Overall, the city overran its budget by 128%.

#4 Barcelona 1992 

Barcelona's 1992 Summer Olympic Games were the fourth most expensive to host, costing $11.6B. Barcelona invested in striking new venues and city-wide renovations for public transport, including airport expansion, a new system of ring roads, and a new high-speed rail network. The Spanish city hosted from 25th July to 9th August and overran its budget by 266%.

#5 Paris 2024 

The fifth most expensive Summer Olympics is Paris 2024, which cost $8.7B. Paris has built a new climbing facility, an Olympics Aquatic Centre, plus Olympic and Media villages specifically for the games. The much-anticipated Paris Olympic Games will run between 26th July and 11th August this year. The French capital has overrun its hosting budget by 115%. 

#6 Beijing 2008

Beijing 2008 Summer Olympics were the sixth highest-cost games to host, raking in a total cost of $8.2B. A new Olympic village was built, 22 new sports venues were added, and 50 existing stadiums were renovated for training and practicing. The Chinese capital hosted from 8th to 24th August and overran its budget by just 2%.

#7 Sydney 2000

The seventh most expensive Summer Olympic Games was Sydney 2000, costing $5.2B. New facilities were built at Olympic Park including a main stadium and an indoor stadium (the SuperDome). The Australian city hosted the games from 15th September to 1st October and overran its budget by 90%.

#8 Atlanta 1996 

Atlanta's 1996 Summer Olympic Games were the eighth most expensive, costing $4.7B.  Atlanta focused on developing projects for urban areas such as Summerhill and Techwood Clark Howell Homes that were next to Olympic venues. Almost 1,000 new housing units were built all together. Georgia’s state capital hosted the games between 19th July and 4^th August and overran its budget by 151%. 

#9 Athens 2004

The ninth-most expensive Summer Olympic Games was Athens 2004, costing $3.1B overall. The Olympic Games were used to re-model and develop three areas of the city: the Phaleron Coastal Zone, the Athens Olympic Sports Complex and the Hellinikon Complex. The Greek capital hosted the games from 13th to 29th August and overran its budget by 49%.

Nathan Vega, Head of Marketing at Playcasino.com has commented on the findings:

“With the 2024 Paris Olympics just around the corner, it is interesting to see the financial hit that host cities have taken over the years. Infrastructure and operational costs have made it impossible for most cities to stay under budget when preparing to host the games. 

“There is no doubt the Olympics is one of the most highly anticipated sports events, and after a four-year wait, the world is getting ready to support their country in different events once again. However, there are some downsides for hosting cities. Locals face high levels of congestion, home supporters may be unimpressed with results and see it as a waste of money, and hosting the Olympics will cost local taxpayers. 

“Although it comes with a heavy price tag, hosting the Olympics can benefit cities in other ways. Investments in the new infrastructure built for the games, tourism, development of world-class sporting facilities, and a once-in-a-lifetime experience for locals can all lead to improved cultural and financial development.”