Most people will have nothing but fond memories of the Sydney 2000 Olympics. Largely hailed to be one of the best Olympic games of all time (we may be biased here), Sydney 2000 was a chance for Australia to show off its beautiful landscape and efficient infrastructure with the rest of the world.

What you might not remember, however, is the cost of the games. The Sydney Olympics cost a staggering AU$7.9 billion (US$5.2b) which was an impressive 90 per cent over profit. Eek.

Despite the cost, it was still a long way from being the world’s most expensive games. Can you guess which was the most expensive?

Research conducted by online casino site Playcasino.com analyzed data from The Council of Foreign Relations to create a ranking of the costliest Summer Olympics between 1992 and 2024 in US dollars.

The data factored in the operational and construction costs each city spent overall to host the Summer Olympic Games and how much they exceeded the budget.

Here’s the full list:

Source: Playcasino.com. Cost is in USD

1. Rio de Janeiro 2016

The most expensive Summer Olympic Games was Rio de Janeiro 2016, costing US$23.6b. After winning the rights to host the Olympics, Rio developed three modes of public transport – the Bus Rapid Transit (BRT), the metro and the Light Vehicle Rail System. The famous Brazilian city was the first to host the games in South America, which took place between the 5th and 21st August. The city spent the most money in Olympic history to host the games and overran its budget by 289 per cent.

2. London 2012

The London 2012 Summer Olympics was the second most costly, with a price tag of US$16.8b. Once selected as hosts, London invested in ten new railway lines and 30 new bridges to promote greener travel. Money was also used to upgrade pedestrian and cycling routes across London. The English capital hosted the games from the 27th July to 12th August 2012 and overran its budget by 76 per cent.

3. Tokyo 2020

Tokyo 2020 hosted the third-most expensive Summer Olympics, costing US$13.7b. Tokyo invested in eight new venues specifically for the games, including the new National Olympic Stadium for the opening and closing ceremonies. They incorporated sustainability features such as the use of renewable energy and barrier-free designs. The Japanese capital hosted the games between 23rd July and 8th August 2021 due to delays caused by the global COVID-19 pandemic. Overall, the city overran its budget by 128 per cent.

4. Barcelona 1992

Barcelona’s 1992 Summer Olympic Games were the fourth most expensive to host, costing US$11.6b. Barcelona invested in striking new venues and city-wide renovations for public transport, including airport expansion, a new system of ring roads, and a new high-speed rail network. The Spanish city hosted from 25th July to 9th August and overran its budget by 266 per cent.

5. Paris 2024

The fifth most expensive Summer Olympics is Paris 2024, which cost US$8.7b. Paris has built a new climbing facility, an Olympics Aquatic Centre, plus Olympic and Media villages specifically for the games. The much-anticipated Paris Olympic Games will run between 26th July and 11th August this year. The French capital has overrun its hosting budget by 115 per cent.

6. Beijing 2008

Beijing 2008 Summer Olympics were the sixth highest-cost games to host, raking in a total cost of US$8.2b. A new Olympic village was built, 22 new sports venues were added, and 50 existing stadiums were renovated for training and practicing. The Chinese capital hosted from 8th to 24th August and overran its budget by just 2 per cent.

7. Sydney 2000

The seventh most expensive Summer Olympic Games was Sydney 2000, costing US$5.2b. New facilities were built at Olympic Park including a main stadium and an indoor stadium (the SuperDome). The Australian city hosted the games from 15th September to 1st October and overran its budget by 90%.

8. Atlanta 1996

Atlanta’s 1996 Summer Olympic Games were the eighth most expensive, costing US$4.7b. Atlanta focused on developing projects for urban areas such as Summerhill and Techwood Clark Howell Homes that were next to Olympic venues. Almost 1,000 new housing units were built all together. Georgia’s state capital hosted the games between 19th July and 4th August and overran its budget by 151 per cent.

9. Athens 2004

The ninth-most expensive Summer Olympic Games was Athens 2004, costing US$3.1b overall. The Olympic Games were used to re-model and develop three areas of the city: the Phaleron Coastal Zone, the Athens Olympic Sports Complex and the Hellinikon Complex. The Greek capital hosted the games from 13th to 29th August and overran its budget by 49 per cent.

Nathan Vega, head of marketing at Playcasino.com has commented on the findings:

“There is no doubt the Olympics is one of the most highly anticipated sports events, and after a four-year wait, the world is getting ready to support their country in different events once again. However, there are some downsides for hosting cities. Locals face high levels of congestion, home supporters may be unimpressed with results and see it as a waste of money, and hosting the Olympics will cost local taxpayers.

Although it comes with a heavy price tag, hosting the Olympics can benefit cities in other ways. Investments in the new infrastructure built for the games, tourism, development of world-class sporting facilities, and a once-in-a-lifetime experience for locals can all lead to improved cultural and financial development.”