Watching the closing ceremony of the Olympics, there was a section where they honored all the volunteers who helped at the Olympic Games with four bouquets of flowers. I immediately wondered why an event of this size, generating billions in revenue, relies on volunteers. There were 45,000 volunteers working at the Olympic Games.
The host city bears a huge financial burden and aims to benefit from increased tourism and infrastructure development. Meanwhile, athletes aren't paid by the IOC. In fact, there were recent reports that some athletes even created OnlyFans accounts to make some money.
So where does all the money from sponsorships, broadcasting rights, and ticket sales go? It goes to the International Olympic Committee (IOC). The IOC retains a significant portion of the revenue, particularly from broadcasting rights. For the Tokyo Olympics, the IOC's total revenue was $7.6 billion, with a substantial portion coming from media rights. The IOC claims to be a non-profit organization and states that it redistributes 90% of its income to National Olympic Committees and International Federations to support athletes and sports development globally. However, the total compensation for IOC directors is estimated to be around $50 million over a four-year Olympic cycle, including base compensation, bonuses, and other benefits.
Yet, volunteers are happy to help, experiencing a once-in-a-lifetime opportunity to work for free at an event where others benefit massively. I really enjoyed the Olympic Games, but it feels like our world is just broken.
TL;DR: Some individuals massively benefited financially from the Olympic Games, while 45,000 volunteers worked for free.
Edit: I’m not against volunteering at events. there are events where volunteers are crucial for success, such as local fairs or charity events. But when there are events where individuals earn millions of dollars, there should also be enough money to compensate everyone involved. Instead they frame the work as Volunteer as the best thing that could happen to you.
https://www.the-inquisitor-magazine.com/ioc-directors-earning-2024/
https://www.japantimes.co.jp/olympics/2024/07/14/paris-olympic-volunteer/
https://edition.cnn.com/2024/07/16/sport/olympics-athletes-compensated-medal-spt-intl/index.html