Cost of the Olympic Games
I read an interesting post the other day about why the Olympic Games always end up costing more than originally proposed. Essentially, organizers submit an appealing budget that legislators will accept, especially when compared to the perceived benefits of hosting the games. Once additional funds are needed, legislators tend to look at all the money already sunk and go along with it.
Just look at the about this very topic. According to them, the predicted cost in 2005 when London won the bid was £2.37 billion. The figure is now more than £12 billion and continues to rise. It’ll be interesting to see what the final cost comes to once the games are completed.