The Olympics Cost Rio at Least $13.1 Billion and Probably More
- Majority of spending went to public works, some unfinished
- Another blow to IOC as it struggles to find host cities
Supporters cheer for their team during the women's beach volleyball qualifying match between Brazil and the USA at the Beach Volley Arena in Rio de Janeiro on August 9, 2016.
Photographer: Leon Neal/AFP via Getty ImagesTen months after the 2016 Summer Olympics, it still isn’t clear how much the games cost the host city of Rio de Janeiro.
New data released Wednesday by the local government puts the final price price tag at least 42.8 billion reais ($13.1 billion), according to local newspaper Folha de Sao Paulo. Those numbers, though, reflect a mix of new estimates and questionable estimates. The Brazil Sports Ministry gave a current estimate for construction of Olympic arenas of 7.2 billion reais, but arriving at that total requires relying on outdated numbers to account for the bulk of the costs -- the public works related to the event.