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Rio Games a Success at ‘Only’ 51% Overbudget

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Rio Games a Success at 'Only' 51% Overbudget

Rio Games a Success at ‘Only’ 51% Overbudget

Will the 2016 Rio Olympic Games be remembered as a success or a failure? It’s hard to know the answer yet.

What we do know, however, is that in the bizarro world of hosting Olympic Games, the cost overruns for Rio are actually quite favorable compared to numbers from past events.

Always Overbudget

The above graphic from HowMuch.net, a cost information site, visualizes data from a recent study by Oxford University to compare the budgets of previous games.

The study found the average cost overruns for Olympic Games to be a whopping 156% from 1968 to 2016. This means that the Rio Games were a budgeting success, at least in relative terms, by ‘only’ running 51% overbudget.

It should be noted that the study accounts only for sports-related costs, such as those relating to operations or building venues. The study excludes indirect capital costs such as upgrading transport or hotel infrastructure, since data on these costs is harder to come by, and is often unreliable. Also, some Olympic Games were omitted from the study, as they did not have available public data on the costs involved.

The Good, The Bad, and the Ugly

The good news for organizers is that cost overruns, as a percentage, are generally going down.

The 1976 Summer Games in Montreal caught everyone off guard after going 720% overbudget, and the city was saddled with debt for 30 years. Lake Placid (1980), Barcelona (1992), and Lillehammer (1994) were all grossly overbudget as well with 324%, 266%, and 277% overruns respectively.

However, recent games – with the exception of Sochi (289%) – have all been pretty good as far as Olympics go. The average cost overrun since 1998 has been just 73%.

The bad news for organizers is that costs, in general, are still going way up. Organizers are just getting slightly “better” at budgeting for them.

Here are the total costs for all games in the study – note that costs are adjusted to be in 2015 terms.

Olympic Games Costs

Lastly, the ugly part for future Olympics organizers?

The study found that the budgeting problems for Olympic Games are without precedent, as far as megaprojects go:

The Olympic Games have the highest average cost overrun of any type of megaproject, at 156 percent in real terms. In comparison, Flyvbjerg et al (2002) found average cost overruns in major transportation projects of 20 percent for roads, 34 percent for large bridges and tunnels, and 45 percent for rail; Ansar et al. (2014) found 90 percent overrun for megadams.

A major difference, however, is that sometimes infrastructure projects do get built on budget. Olympic projects, on the other hand, always go overbudget by amounts that seem almost unfathomable.

And, it is only in this bizarre context that the Rio Games can be seen as a budgetary “win”.

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Science

Visualizing the Average Lifespans of Mammals

While smaller animals such as weasels typically live 1-2 years, larger counterparts can thrive for decades.

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Infographic depicting the average lifespans of diverse mammals.

Visualizing the Average Lifespans of Mammals

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Mammals, though comprising a small fraction of Earth’s creatures, hold vital ecological roles globally. They are crucial for maintaining ecosystem health through services like pollination, seed dispersal, and predator-prey dynamics.

In this visualization, we depict the average lifespans of mammals, using data from Discover Wildlife and the United Nations.

Human Lifespans on the Rise

Defined as warm-blooded creatures with hair or fur, mammals nurse their young with milk from mammary glands. While smaller animals such as weasels typically live 1-2 years, larger counterparts like elephants can thrive for decades, and bowhead whales can live for 200 years, or even longer.

AnimalAverage lifespan (years)
Weasel1 to 2
Hedgehog3
Wolverine12
Tiger14
Brown bear25
Lowland tapir30
Western gorilla35
Brandt's bat41
Humans (1950)47
Elephant56
Humans (2022)72
Bowhead whale200

Notably, human lifespans have experienced a remarkable surge. According to the UN Population Division, the global average life expectancy has surged from 47 years in 1950 to 72 years in 2022, marking a 25-year increase. This is attributed to advancements in nutrition, medication, and essential resources.

However, as human longevity flourishes, it can have an adverse effect on wildlife mammal populations. To put this into numbers, over the past 100,000 years, the surge in human population has precipitated an 85% reduction in wild mammal biomass.

Today, livestock dominates 62% of the world’s mammal biomass, with humans accounting for 34%, while wild mammals comprise only 4%.

Despite a decline in mammal diversity, the total biomass of terrestrial mammals has significantly increased, expanding approximately ninefold over the past 10,000 years.

Curious to learn more about mammals? Check out this graphic that shows the biomass of all the world’s mammals.

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