The 2012 Olympics in London cost will be quite a lot when everything is said and done. Hosting the Olympics is always pricey for the city that is chosen.

Cities rarely have the necessary infrastructure or facilities to meet the demands of modern Olympic competitions and the throngs of visitors from all over the world who come to see the spectacle. Certainly there are those that would question whether it is worth the trouble and expense.

We have seen other cities in past Olympics spending large sums to build structures which went abandoned after the sporting events. A recent example of this is Athens, who spent more than £9 billion getting ready for their 2004 Olympics, and now most of the structures built for the events are standing derelict and covered with graffiti. The challenge for Olympic organizers and government officials is to make sure that this tragic outcome does not happen in London.

One of the primary elements of the London Olympic plan is the development of deprived areas in the East End to house the facilities needed for the games and the influx of tourists who come to see them.

In all, some £9 billion has been budgeted for the Olympics. A large part of this funding is coming from Olympic lotteries which will be implemented each year as a fundraiser. Corporate sponsorship and government funds will also play a significant role in financing the Olympics in London.

At this stage it looks as if costs will overrun the budget, but to what extent is still unclear. There is no doubt that staging the Olympics is a costly venture, but if the benefits of such an event are significant, then it may have been a very wise course of action.

London planners have been working hard to build structures which can accommodate the games but then easily and quickly be re-purposed as housing or commercial space.

The 2012 Olympics cost will be worthwhile if at the end there is a revitalized East End to show for it.

Photo courtesy: Bromiskelly

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