The 2026 Milan - Cortina Winter Olympics organising committee has adjusted its budget figures, with the operating budget increasing by 7% to around 1.7 billion euros, excluding infrastructure and venue construction costs. This comes against the backdrop of a decline in Italy's inflation rate, which fell to 1% in 2024 from 5.7% in 2023, mainly due to the 10.1% drop in energy prices after a 1.2% increase in 2023.
The total budget for the 2026 Milan - Cortina Winter Olympics remains well below the record - setting 51 - billion - dollar cost of the 2014 Sochi Winter Olympics and is also lower than the approximately 4 - billion - dollar operating budget of the 2022 Beijing Winter Olympics. The organisers are aiming to strike a balance between grand ambitions and sustainable development as the preparation work enters its final stage. The updated budget marks a new milestone in the preparations for Italy's second Winter Olympics since the 2006 Turin Games, reflecting a hybrid model based on facility reuse, decentralised management, and cost control, without neglecting the global impact of the upcoming event.
The budget does not include the construction costs of key facilities such as the 118 - million - euro sliding centre in Cortina d'Ampezzo and the 300 - million - euro new ice hockey arena in San Giuliano, nor does it cover the costs of road and railway infrastructure projects funded by the Italian government to improve access to venues across northern Italy. The International Olympic Committee will provide about 1 billion US dollars to support the event, and the Italian government has also given strong support, considering the Olympics a national priority and allocating substantial funds for venue construction and infrastructure projects.
