The host of the 2018 Winter Olympics claims to have generated a surplus of at least 55 million US dollars (47.8 million euros). This had become possible after a series of cuts had been made in the context of the so-called Agenda 2020 of the International Olympic Committee (IOC), said the head of the Pyeongchang Organizing Committee, Lee Hee Beom, at the IOC Assembly in Buenos Aires.
Winnings from the Olympics are usually shared between the IOC, the National Olympic Committee of the host country and the Organizing Committee. With the Agenda 2020, the IOC wants to push down the costs of advertising and hosting Olympic Games. Measures include smaller transmission centers, more tickets for free sales and more intensive use of existing structures
"We used to ask cities to fulfill our conditions," said IOC President Thomas Bach. "Today we ask ourselves how we can adapt the Olympic Games to the possibilities of cities and regions." The enormous financial burdens had recently clouded the enthusiasm for the games in many countries, in referendums had several times spoken out against the organization of Olympic Games populations.