Every few years, the world tunes in to watch the Olympic Games or the FIFA World Cup – spectacles of human achievement, national pride, and breathtaking pageantry. For the host nations, these events often represent the culmination of years of planning, billions in investment, and the hope of a lasting legacy. But with costs soaring into tens of billions in some cases, one question remains at the heart of the debate:
Is it worth it?
The Cost Spectrum: From Bargain to Blowout
Let’s start by looking at the numbers. Since 1990, the cost of hosting either the Olympics or the FIFA World Cup has ranged from remarkably frugal to wildly extravagant.
- Most Affordable Olympic Games:
- Most Affordable FIFA World Cup:
- Most Expensive Event:
- FIFA’s Big Ticket:
The Multiplier Effect: More Than Just Games?
Proponents often argue that these mega-events deliver benefits far beyond the games themselves. These include:
- Infrastructure Development: Often cited as a key benefit, events catalyze long-overdue investments in roads, airports, and public transit. For instance, Barcelona 1992 used the Olympics as a catalyst to reinvent the city, transforming it into a leading global tourist destination. The multiplier effect here was very real: Barcelona’s tourism industry saw double-digit growth for years after.
- Urban Regeneration: London’s East End was dramatically revitalized by the 2012 Olympics, with housing, green space, and transit improvements. The Queen Elizabeth Olympic Park is now a permanent asset.
- National Branding and Soft Power: Hosting a major event can place a country on the map. South Africa’s 2010 World Cup helped reposition the country in global perceptions, even though its long-term economic benefits remain debated.
- Tourism and Short-Term Demand Surges: While some events see a bump in tourism, the effect is often temporary. Sydney 2000 saw a modest tourism uptick, but Athens 2004 did not. The 2006 World Cup in Germany, however, is often cited as a success, with over 2 million visitors and a reported €2 billion in extra consumption.
- Employment and Business Contracts: These events generate thousands of short-term jobs, especially in construction and services. But without long-term industry support, the employment boost often fades quickly.
Saudi Arabia’s Turn: A New Chapter Begins
As Saudi Arabia prepares to host the FIFA World Cup in 2034, and potentially sets its sights on the Olympic Games in 2036, the world is watching with great anticipation. These events represent not just sporting milestones, but key moments in the Kingdom’s bold journey of transformation.
Guided by Vision 2030, Saudi Arabia is leveraging mega-events as catalysts for economic diversification, tourism growth, and enhanced global engagement. In a forward-looking approach, the Kingdom is aligning these events with a broader national transformation strategy, seamlessly integrating them with long-term infrastructure investments such as NEOM, Qiddiya, and the Riyadh Metro.
This approach signals a new model for global sporting events, one in which they serve as engines for sustainable development, cultural exchange, and innovation. Saudi Arabia’s ambition is clear: to create lasting value that extends well beyond the final whistle.
The Numbers: Cost of Olympic & World Cup Events Since 1990
Costs of Hosting the Olympics & FIFA World Cup (Since 1990)
- 1992 – Barcelona (Summer Olympics): $9.4B
- 1994 – Lillehammer (Winter Olympics): $2.2B
- 1994 – USA (FIFA World Cup): $0.5B ✅ Lowest World Cup cost
- 1996 – Atlanta (Summer Olympics): $1.7B ✅ Lowest Olympics cost
- 1998 – France (FIFA World Cup): $2.3B
- 2000 – Sydney (Summer Olympics): $5.1B
- 2002 – Korea/Japan (FIFA World Cup): $7.0B
- 2004 – Athens (Summer Olympics): $11B
- 2006 – Germany (FIFA World Cup): $4.3B
- 2008 – Beijing (Summer Olympics): $40B+
- 2010 – South Africa (FIFA World Cup): $3.6B
- 2014 – Sochi (Winter Olympics): $51B (Most Expensive Olympics)
- 2014 – Brazil (FIFA World Cup): $15B
- 2016 – Rio de Janeiro (Summer Olympics): $13.2B
- 2018 – Russia (FIFA World Cup): $11.6B
- 2020 – Tokyo (Summer Olympics): $15.4B
- 2022 – Qatar (FIFA World Cup): $220B
Final Thoughts
Is it worth it? That depends on what you value. If the goal is short-term profit, most events fall short. If the goal is soft power, global visibility, and urban transformation, then a well-managed event can pay off – just not always in direct dollars.
For cities and countries contemplating a bid, the question must evolve from “Can we afford it?” to “What legacy are we building?”
Saudi Arabia is at cross-roads and positioned to set a powerful example for how mega-events can serve as long-term engines of innovation, development, and global connection.
