Did London Go Bust On The Olympics? [Infographic]
12:30 pm, August 12th | by Amy Tennery
It’s no big secret that the Olympics are an expensive proposition for any host city — one that’s often unjustifiably pricey. Consider the 2008 Athens games, which cost the city $15 billion to put on (a splurge that’s grimly regrettable in light of recent events).
So how will London’s economic landscape shake out at the end of the Summer 2012 Games? Lucky for us, someone crunched the numbers.
This year’s Olympics cost around $14.62 billion — roughly equaling the current gross domestic product of the Democratic Republic of the Congo, according to recent World Bank estimates. This cost is what economists technically call a “shitton.”
Of course, there are upsides for any host city. The Olympics spur on an understandable uptick in consumer spending, tourism and economic output. Can London break even? Read on to find out: