Hamburg Targets €100m Profit with Proposed Olympic Games Bid

The German city of Hamburg has outlined plans to spend €4.8 billion ($5.6 billion) if it secures the right to host a future edition of the Olympic and Paralympic Games, with city officials stating the project could ultimately generate a financial surplus.

The figure, announced by the governing senate of the Hamburg city state, includes projected costs for venues, technology, marketing and operational staffing as part of the city’s proposed Games delivery plan.

According to officials, 76% of the required venues already exist, while the remaining 24% would be temporary facilities, a model designed to reduce infrastructure spending and align with the International Olympic Committee’s growing emphasis on sustainability and cost control.

The projected €4.8 billion budget is significantly lower than the €11.2 billion estimate presented during Hamburg’s earlier bid for the 2024 Olympic Games, which was ultimately withdrawn after a public referendum in 2015.

Hamburg’s finance senator Andreas Dressel said updated planning and a more streamlined Games model have helped reduce expected costs.

“The financing costs we will incur to host the Olympic and Paralympic Games in Hamburg are significantly lower than what was estimated in 2015,” Dressel said.

“We can host economically viable Games in this city based on transparent calculations.”

Dressel also suggested that a successful Olympic bid would accelerate both public and private investment in infrastructure projects across Hamburg.

“If Hamburg’s bid is successful, public and private funds will flow more quickly and in a more targeted manner into infrastructure projects in Hamburg – rather than into Munich or the Rhine-Ruhr region,” he added.

External analysts commissioned as part of the feasibility work have suggested that future Games hosted in Hamburg could generate a profit of around €100 million, with the proposed budget including a €628 million contingency fund to cover unexpected costs.

However, critics have raised concerns similar to those voiced during the city’s 2015 Olympic discussions, warning that major sporting events often exceed initial budgets and may not deliver the projected economic benefits.

A public referendum scheduled for May 31 will determine whether Hamburg moves forward with its Olympic bid.

The German Olympic Sports Confederation (DOSB) is currently evaluating potential host cities as part of a national bid strategy targeting the 2036, 2040 or 2044 Olympic Games.

Hamburg faces competition from Munich, Berlin and the Rhine-Ruhr region, with a final decision on Germany’s preferred candidate expected in September.

Germany last hosted the Olympic Games in Munich in 1972, and the Bavarian capital has already secured local support for a new bid through a public referendum.