Every four years, the Olympic games capture the imagination of the sporting world unlike anything else. But behind the glitzy ceremonies and heated competition is a multibillion-dollar economic engine. In fact, the Olympics have often been criticized as a boondoggle for host cities, which often build enormous stadiums that are never used again and spend billions on a two-week party that generates little return on investment.
Still, for a host city, the prestige of welcoming the world and putting itself on the map is often worth the cost, as it makes unknown places like Pyeongchang immediately world-famous and instills a sense of pride in locals.
The journey to the Olympics can be financially risky and full of sacrifice for the athletes as well, in addition to being the culmination to a physical and competitive gauntlet that has occupied most of their lives. Keep reading to learn some financial facts about the Olympics that you probably didn’t know.
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