2034 Winter Olympics in Salt Lake City, UT, Will Cost $4 Billion

According to first projections, the 2034 Olympic Winter Games in Salt Lake City will cost an estimated $4 billion. $2.84 billion of the budget is expected to be used for operational costs. The budget also includes $260 million for local youth programs.

The organizers released the first budget estimates on Monday, June 10, in an official press conference. They also stated that no local or state tax money would be used, relying on private investors instead. The International Olympic Committee (IOC) is expected to review the numbers and officially select Salt Lake City as the location for the 2034 Winter Olympics on July 24.

Salt Lake City hosted the Olympics in 2002 on a budget of $1.2 billion. Adjusted for inflation, the 2034 Olympics will still be one percent cheaper than the 2002 Olympics despite 40% more disciplines being added. This is possible because venues that were already used in 2002 are being reused.

If the estimates are accurate, the event would be one of the cheapest Olympics in recent years. Russia spent over $51 billion on the 2014 Winter Olympics in Sochi. In the following event in 2018, South Korea paid almost $13 billion. However, the final cost of Olympic events is hardly ever within the estimated budget. In 2022, the operating budget for China’s Olympics in Beijing was around $3.9 billion. A recent report, however, found that the real cost was almost ten times the amount at $38.5 billion. It is, however, highly unlikely that the event in Salt Lake City will exceed the budget this much. The organizers have made it their mission to not spend more than they make from the event.

The event is expected to make $1.1 billion in tickets and hospitality alone. Another $1.8 billion is expected through marketing and sponsorship. The rest of the budget is supposed to be made back through donations from the IOC and licensing and merchandising.

The alpine skiing events will take place in the Snowbasin ski resort, 43 miles outside of Salt Lake City. The ski and snowboard freestyle events will take place in the Park City Ski Area and the Deer Valley Ski Resort. The Big Air event for skiers and snowboarders is also going to take place in the middle of Salt Lake City. The competition will take place at Block 85 on the Medal Plaza of the 2002 Olympics.

The bobsled, skeleton, ski-jumping, and some of the snowboard events will be hosted in the Utah Olympic Park in the same facilities that were used in the 2002 Olympics. The cross-country skiing events will be held in the Soldier Hollow Nordic Center near Midway.

The next games will be held in Turin, Italy, in 2026. The organizers there are taking a similar approach to Salt Lake City and reusing the old venues. The U.S. has hosted the Winter Olympics four times since the first games in 1924.