IOC Celebrates Milano Olympics 'Success'—But Who Really Won?

$15 billion. That's what Italy spent on the Milano-Cortina 2026 Winter Olympics. The International Olympic Committee called it "incredible," but for whom exactly?

The Numbers Don't Tell the Whole Story

IOC President Thomas Bach couldn't contain his enthusiasm, declaring the games "among the best Winter Olympics ever." TV viewership jumped 15% from the previous games, and sponsorship revenue hit $2.2 billion. The medals table looked impressive too.

But scratch beneath the surface, and a different picture emerges. Some venues were completed just three days before the opening ceremony. Environmental groups raised alarms about Alpine ecosystem damage. Local residents in Cortina d'Ampezzo watched hotel prices triple overnight.

Follow the Money

The IOC, broadcasters, and global sponsors certainly celebrated. But the real winners might have been northern Italy's property investors. Milan real estate prices surged 35% since the games were awarded.

Meanwhile, ordinary Italians footed the bill through taxes while dealing with traffic chaos and inflated living costs. Half the venues from Turin's 2006 Olympics now sit underused, bleeding maintenance costs.

The Post-Games Reality Check

This pattern isn't unique to Italy. South Korea spent $13 billion on Pyeongchang 2018, yet most venues now operate at a loss. The Gangneung Ice Arena alone loses $2.6 million annually. London's 2012 Olympics left a mixed legacy—stunning venues in east London, but also gentrification that priced out longtime residents.

The question isn't whether these games create economic activity—they do. It's whether that activity justifies the enormous public investment and social disruption.

The Accountability Gap

Here's what's particularly striking: the IOC measures "success" primarily through TV ratings, sponsorship deals, and athlete satisfaction. But what about long-term community impact? Environmental costs? Whether local businesses actually benefited beyond the two-week spectacle?

The IOC's criteria for success seem curiously disconnected from the concerns of the people who actually live in host cities.