By Andreas Nygaard, Christian Gjersing Nielsen
23.02.2021 /
When the Japanese people now faces dramatic cost overruns while preparing the Tokyo 2020 Olympics, they are not the first to learn a hard economic lesson. A recent academic study argues that the Olympic Games are naturally subject to severe cost overruns, while the IOC criticises the study for mixing budgets and attributing non-Olympic costs to the Olympic budget. This article examines claims and counter-claims in the debate about Olympic costs.