MSc in Major Programme Management
The Mayor of Rome, Virginia Raggi has used evidence from an Oxford Saïd report, ‘The Oxford Olympics Study 2016: Cost and Cost Overrun at the Games’ to call into question the city’s bid for the 2024 summer Games.
The study, by lead researcher Professor Bent Flyvbjerg and Allison Stewart and Alexander Budzier, shows that all Summer and Winter Games come in over budget. With an average cost overrun of 156% in real terms, the Olympics have the highest cost overrun of any type of megaproject in the world. The study advises host nations, cities, and the IOC to get as realistic a picture as possible of costs and risks before committing to a bid and caution that with costs typically being so poorly managed, there are real risks to a country’s economy. Citing the study, Mayor Virginia Raggi said, ‘It would be irresponsible to say yes to this candidacy,’ arguing that hosting the Olympics would be unsustainable and leave the country with significant debt.