The Oxford Olympics Study 2016: Cost and Cost Overrun at the Games

  title={The Oxford Olympics Study 2016: Cost and Cost Overrun at the Games},
  author={Bent Flyvbjerg and Allison Stewart and Alexander Budzier},
  journal={Strategy \& Microeconomic Policy eJournal},
Given that Olympic Games held over the past decade each have cost USD 8.9 billion on average, the size and financial risks of the Games warrant study. The objectives of the Oxford Olympics study are to (1) establish the actual outturn costs of previous Olympic Games in a manner where cost can consistently be compared across Games; (2) establish cost overruns for previous Games, i.e., the degree to which final outturn costs reflect projected budgets at the bid stage, again in a way that allows… 
Hosting the Olympics: why are we always getting the cost wrong?
PurposeIn the last 50 years, every Olympics has experienced a major cost overrun. This paper explores the reasons for this cost underestimation and looks into the occurrence of the winner's curse. We
Re-analysis, measurement and misperceptions of cost overruns at Olympic Games
  • H. Preuss
  • Sociology
    International Journal of Sport Policy and Politics
  • 2022
ABSTRACT The so-called ‘Oxford Study’ by Flyvbjerg et al shows Olympic cost overrun of 170-750% with a substantial risk of a further cost overrun above this range in the future. The aim of this paper
Assessing the Olympic Games: The Economic Impact and Beyond
This study reviews the literature on the evaluation of the Olympic Games, within the broader framework of their significance as cultural assets and opportunities for endogenous growth and sustainable
Going for the Gold: The Economics of the Olympics
In this paper, we explore the costs and benefits of hosting the Olympic Games. On the cost side, there are three major categories: general infrastructure such as transportation and housing to
The Impact of the Olympic Games on Employment Growth: A Synthetic Control Approach
The Olympics Games stand as the largest sporting event in the world. The Games include approximately 200 countries during the Summer Olympic Games and 90 countries competing in the Winter Games, each
Sustainable Olympic Development: A Proposed Benchmark for Managing Economic Outcomes
Abstract No other sporting event possesses the grandeur of the Olympics, and few other development projects demonstrate the lack of cost containment as the Olympics which leaves local residents
Economic Impact Analysis on Olympic Host-Cities
When a city decides to undertake an Olympic Games, they do so with the notion that hosting the Olympics will provide many direct financial benefits to the city in addition to countless other indirect
‘With or Without COVID'
The Tokyo Olympics are now the most expensive Olympic Games to ever take place. Or should that be “to not take place”? Originally scheduled to be held in the summer of 2020, like much of the sports
The Causal Economic Effects of Olympic Games on Host Regions
This paper studies the effects of hosting Olympic Games on the regional economy in the short- and long-run. For identification, runners-up in the Olympic bidding process are used to construct the
COVID-19, sustainability and Olympic Games: which lessons can we learn from Tokyo 2020?
PurposeThis paper aims to understand how the sustainability theme has been incorporated into the new Olympic planning guidelines based on analysing the case of Tokyo (2020), which was severely


After Sochi 2014: costs and impacts of Russia’s Olympic Games
This paper assesses the outcomes of the 2014 Winter Olympic Games in Sochi, Russia, examining the costs and economic impacts of the event, the prospects for the long-term use of venues and
Olympic Proportions: Cost and Cost Overrun at the Olympics 1960-2012
Do different types of megaprojects have different cost overruns? This apparently simple question is at the heart of research at the University of Oxford aimed at understanding the characteristics of
Going for the Gold: The Economics of the Olympics
In this paper, we explore the costs and benefits of hosting the Olympic Games. On the cost side, there are three major categories: general infrastructure such as transportation and housing to
Why costs overrun: risk, optimism and uncertainty in budgeting for the London 2012 Olympic Games
The systematic under-estimation of costs in budgeting for large-scale projects raises the vexing question of why there are such incongruities between the projections made at initial stages and the
Torino 2006: What Kind of Olympic Winter Games Were They? A Preliminary Account from an Organizational and Economic Perspective
Introduction Citius, altius, fortius ("Faster, higher, stronger"): to what extent does the otto of the Olympics relate to Torino 2006? Has the XXth edition of the Winter Olympic Games (OWG) continued
Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup
The numbers are staggering: China spent $40 billion to host the 2008 Summer Olympic Games in Beijing and Russia spent $50 billion for the 2014 Sochi Winter Games. Brazil's total expenditures are
Impacts of the Olympic Games as mega-events
Mega sporting events can be defined by their impacts and complexity in organisation and delivery. This paper reviews the literature on the features of such events and, drawing particular examples
The Economics of Staging the Olympics: A Comparison of the Games, 1972-2008
The Olympic Games is a unique event centering global interest on its host city. The financing of the Games has changed dramatically since Munich (1972) and economic interests and effects are
From Lake Placid to Salt Lake City: The challenging growth of the Olympic Winter Games Since 1980
The Olympic Winter Games have existed for more than three quarters of a century. The first were held at Chamonix, France in January 1924 and virtually amounted to a week-long private party of winter
Olympic Cities: Lessons Learned from Mega-Event Politics
As cities compete for jobs and capital in the context of limited federal aid and increasing global economic competition, a new and potentially high-risk strategy for stimulating local economic growth