How much money will south korea make from the olympics

Brisbane, Australia, also has been mentioned as a candidate, as have India, South Africa and Indonesia, though campaigning has not yet begun in earnest. But it’s unclear what will happen to the other venues. The 35,seat Pyeongchang Olympic Stadium was built to host just two events — the opening and closing ceremonies. It left undetermined issues like which countries would host which events, and how the closed society of North Korea might handle an influx of international athletes, fans and news media. At the same time, an overly generous South Korean welcome for the more than six hundred North Korean visitors could counter the growing momentum in the UN Security Council for additional economic sanctions and political isolation against North Korea for its nuclear program. The Olympic Alpine skiing course in South Korea.

Uncertain legacy

The hefty price Olympic host countries pay has prompted some experts to ask whether it’s worth the financial burden. Olympic events have become notorious for cost overruns and broken promises of economic windfalls. Perhaps most famously, Montreal spent three decades paying back debts after the Olympics. Related: Americans aren’t going to the Olympics: Here’s why. Some analysts are optimistic. That will come mainly from spending by tourists both during the Games and in subsequent years. South Korea wants to turn Pyeongchang into a tourist destination for winter sports after the games.

Uncertain legacy

The endorsements however only come to the cream of the Olympic crop, with athletes like phenom Michael Phelps scoring the most medals ever and the most endorsement deal riches. The tables below show the breakdown. That Olympic medal money only goes to U. The table below shows how much money an American champion makes per medal. Aside from the U.

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The endorsements however only come to the cream of the Olympic crop, with athletes like phenom Michael Phelps scoring the most medals ever and the most endorsement deal riches.

The tables below show the breakdown. That Olympic medal money only how much money will south korea make from the olympics to U. The table below shows how much money an American champion makes per medal.

Aside from the U. Olympic medal money bonuses in the table above, most other countries pay their own prizes. The table below shows some of the top pay rates for gold medals from different countries.

Despite being on the low-end of the per-medal Olympics money scale, U. The five top-earning Olympians since are shown in the table. Michael Phelps tops the list. Phelps has taken 28 medals in all. Viktor Ahn has earned the second-most Olympics money sincedespite only being in the Olympics and winning 18 fewer medals than Michael Phelps.

Stefania Belmondo of Italy benefits from a similar lopsided pay scale. However, in an age where celebrities like Kim Kardashian can turn a leaked sex tape into a multi-million dollar careerfame is money.

All of them probably get something, though for the bottom-tier athletes that may just be free gear and plane tickets. The very top athletes however get big, big sponsor deals. The biggest in the U. His famous pot-smoking scandal only helped his popularity. Phelps has done a great job turning that notoriety into ready cash. The unknowns will make far. Trending Now Week Month.

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Massive security plans in place ahead of South Korea Olympics

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Read More. That will come mainly from spending by tourists both during the Games and in subsequent years. Moon Jae-in was the winner of an early presidential election held in May North Korea, in an unexpected breakthrough, sent a delegation of athletes, supporters and high-ranking officials to the Winter Games that South Korea hosted in February in Pyeongchang. The countries also plan to send combined teams to the Olympics in Tokyo. But with the building of a bullet train connecting Incheon International Airport to Pyeongchang and millions of dollars poured into road repairs by the government ahead of the Games, locals say that Pyeongchang no longer feels so isolated. Officials described a jointly-hosted Olympics as an unprecedented opportunity for sports diplomacy to bring stability to the Korean peninsula. It was actually in Representatives from both Koreas are expected to submit their plans to co-host the event at a meeting of the International Olympic Committee in Lausanne, Switzerland, on Friday. Leave it to Andrew Zimbalist to throw cold water on an even colder Winter Olympics. All Rights Reserved. More From Our Experts.