FX.co ★ Russian style Olympics: bunch of gold, silver, bronze, and 800 million rubles

The Sochi Winter Olympic games 2014 added 800 million rubles to the Russian budget. According to the Russian government, the earnings exceeded the expenses exactly by this amount. The operational profit was 5 billion rubles, the Sochi 2014 Organizing Committee said. Deputy Prime Minister Dmitry Kozak called it an impressive result. “This is a good result as in recent years the Olympic Games haven't made a profit," said Kozak. Back in 2007, it was planned to spend 314 billion rubles. In early 2013, the officials approved the final amount of 1.526 trillion rubles ($51 billion). According to prime Minister Dmitry Medvedev, about $43 billion were spent on the region development – electrification, construction of motorways, railroads, and water pipes. One of the most beautiful Russian resorts got strong positive impact and now is ready to provide top-level services. The Olympics games history can show a lot of financial victories and defeats. Many of us remember loss making games in Greece that hampered the economy. The Olympics in Vancouver fell short of analytical expectations. The cost of the games was 4.2 billion euros, while the profit was around 700,000 euros against the forecast of 7 million euros.