Many economists and city planners argue that hosting the Olympics is not worth it anymore because the costs have skyrocketed while the long-term economic benefits are often overstated. Modern Summer Olympics now cost between $10 billion and $25 billion, with Paris 2024 costing about $9 billion and Tokyo 2020 costing over $13 billion, and Winter Olympics often exceeding $5 billion to $10 billion, far above initial bid estimates due to security, venue construction, and infrastructure needs. Studies show that tourism gains are temporary, as regular tourists avoid host cities during the Games to avoid crowds, and most new venues like stadiums and athlete villages become white elephants with high maintenance costs after the Games. For example, Rio 2016 venues fell into disrepair, and Athens 2004 contributed to Greece's debt crisis. Local taxpayers often bear the burden through higher taxes or diverted public funds that could have been used for schools, hospitals, or housing. Public opposition has grown, leading to referendums where citizens voted no in Hamburg, Budapest, Calgary, and Munich, and to Denver's famous 1972 rejection of the 1976 Winter Games. The IOC now encourages using existing venues and private funding, as Los Angeles 2028 is doing, to make hosting more sustainable, but many cities still see the financial risk as too high compared to the two weeks of global attention.
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