In December 2011, the UK National Audit Office (NAO) published its latest report on the Olympics, which was estimated to spend 9.3 billion pounds, equivalent to about 14.5 billion dollars provided by the government.

The NAO said that the budget ran from April 2006 until March 2013, since the objective is "to achieve a sustained improvement in UK sport before, during, and after the Games, both in competitive performances, as well as in popular participation."

The auditors drew up several reports analyzing the various aspects of the Olympic competitions. In training athletes, England invested £ 290 million in order to overcome its level in world rankings and win competitors in the "elite category." (See: Sports Performance).

In its latest publication, eight months before the start of the games, the NAO raises "the question about the expected money to cover any risks, as safety in open spaces,-potential-transport restrictions, and costs these issues could bring forward."

In fact, the Organizing Committee of the Olympic Games (LOCOG) initially estimated that 10,000 security guards would be needed and that by December 2011 new estimates projected 23,700 new agents. It said that this great change would require a larger budget, numerous contract negotiations, and extensive operational recruitment process. For the audit, such changes are recommended requiring higher contingency budget items or changes.

Finally, 757 million pounds in security and 200 million pounds in operating costs for the city, ceremonies and the torch relay were spent. Still, the greatest cost was of 6.856 billion pounds for the Olympic Delivery Authority Program, which included, among others, spending on infrastructure. 

Tickets

According to the audit, the Olympic Committee allocated 75% of the tickets to the public of Great Britain, 13% to sponsors, media, international federations, and the Olympic Committee, among others, and 12% to international audiences. The LOCOG said that by December 2011 they were sold out, except for tickets to football stadiums that were not yet on sale.

More Budget, Please

Beyond explaining to citizens what has been the extent of the costs and how they ran, the English Audit recommends mainly increasing the budget for potential risks or unforeseen issues, but explains that he will need to take some time to be able to assess the true impact of the investment in both infrastructure and public image, as well as in sport results.

Sports Performance

According to the report, the "ultimate goals" of the UK for London 2012 focused on improving performance, understood as reaching fourth place in the medals table.

To achieve that position they would have to improve six places from the 2004 Athens 10th place results. Finally, from the economic and organizational effort, the UK achieved a better result. In these games won third place with 65 medals, of which 29 were gold.