Monday, August 16, 2010

Huge Costs Expected for Russia's 2014 Olympics

Sochi, Russia's 2014 Winter Olympics could end up costing nearly £20 billion (~$31 billion USD), which some residents see as a waste of money. Much of the high cost is due to large infrastructure projects, such as a tunnel road that's expected to cost roughly $7.8 billion.

With four years still to go, that figure will dwarf overall spend for Canada's Vancouver Olympics of about £3.5bn.

The 2014 Games in Sochi, on Russia's southwestern coast, are already dogged by massive controversy and allegations of corruption.

Many homes are in the process of being demolished to make way for the six-stadia Olympic Park.

Russia Pays High Price For Winter Olympics
Sky News
August 11, 2010