FX.co ★ Developed countries tend to cut costs of Olympics

Strange things happen in this crazy world. While developing countries with serious economic problems invest huge amounts of money in organization of the Olympics, the developed countries, on the contrary, try to save funds on this event.

For example, Russia, whose economy is in a full decline, managed to impress the whole world by virtually the most stunning games in history. Russian citizens treated this grand project with understanding and once again agreed to tighten their belts, so that no country in the world could surpass the amount of money spent on this “sports party.” And the goal is achieved! No other country in the history of the Olympics has spent so much money on construction, organization, kickbacks, and bribes. Moreover, it is likely that Sochi 2014 will remain the costliest Olympics, especially considering the fact that other countries prefer a completely different approach. They do their best to save money, knowing that the most important thing in the Olympic Games is not the amount of project financing, but honest sports records.

Japan, which hosts the 2020 Olympics Games, once again cut the planned expenditures for the Games. The National Olympic Committee 2020 approved the new budget: Tokio 2020 will cost from $15 to $16.8 billion.

Interestingly, initially the Government planned to spend $26.7 billion on the 2020 Olympics, but the International Olympic Committee considered the price too high. As a consequence, later other countries might refuse to host the Olympics in the future due to excessive spending.