2014 Winter Olympics
Definition
The 2014 Winter Olympics, officially known as the XXII Olympic Winter Games, were held in Sochi, Russia. This major international sporting event involved significant financial investments and strategic planning by both public and private entities.
5 Must Know Facts For Your Next Test
- The total cost of the 2014 Winter Olympics was estimated at $51 billion, making it the most expensive Olympics ever.
- Significant investment was made in infrastructure, including transportation and accommodations.
- The Russian government provided substantial funding to ensure the success of the event.
- Sponsorship deals and broadcasting rights were major sources of revenue for the 2014 Winter Olympics.
- Sochi's selection as the host city led to large-scale economic development in the region.
Review Questions
- What was the estimated total cost of hosting the 2014 Winter Olympics?
- Which country hosted the 2014 Winter Olympics?
- What were some primary sources of revenue for funding the 2014 Winter Olympics?
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Related terms
Capital Budgeting: The process by which investors decide whether to invest in specific projects or assets.
Cost-Benefit Analysis: A financial analysis tool used to evaluate the overall value or impact of a project by comparing its costs and benefits.
Sponsorship Revenue: Income generated from companies that pay to associate their brands with an event or organization.
