With fewer athletes and less spending overall on the Games, London’s Olympics that begin today have been given the dubious title of the “recession” Olympics.
In spite of the glitz and glam surrounding the upcoming events, this year’s Games are certainly lesser in certain ways than previous Olympics. Both the cost and overall number of athletes have decreased significantly as a result of belt tightening.
The number of athletes declined this year by 538, down from the 11,028 who participated in the Beijing Games. That’s the lowest number of competing athletes in almost two decades.
The price tag is also much smaller at just $17 billion in public funds, which is far less than Beijing.