FINANCING THE OLYMPIC GAMES

Abstract

The purpose of this article is to study the consequences of holding the Olympiads in different countries and on this basis to develop recommendations and proposals for the effective holding of the games and minimizing the negative consequences for the host country and its population. The basis for the study is the planned and actual costs of holding the Olympic Games for a period from 1976 to 2024. A comparative analysis of the successful costs of holding the games was made by criteria such as planned and actual costs, the share of actual costs relative to the planned share of state funding. Sources of financing and the socio-economic consequences of the games. Based on the results of the study, proposals are made to increase the return on investment in the Olympic Games.

Organizing and hosting the Olympic Games is a serious responsibility of the host country and its residents, therefore, when they are planned, all economic, social and financial aspects must be considered and calculated in order for the Olympics to be financially successful. Thus, the Olympics can negatively affect the well-being of the population, but they can also contribute to its increase.