2014 Winter Olympics and Paralympics
In June 2006, the International Olympic Committee announced that Sochi had been selected as a finalist city to host the 2014 Winter Olympics and the 2014 Winter Paralympics. On July 4, 2007, Sochi was announced as the host city of the 2014 Winter Games, edging out Pyeongchang, South Korea and Salzburg, Austria.
This will be Russia's first time to host the Winter Olympic Games, and the first time to host the Paralympic Games. The site of a training centre for aspiring Olympic athletes, as of 2008, the city has no world-class level athletic facilities fit for international competition. To get the city ready for the Olympics, the Russian government has committed to a $12 billion investment package, shared 60–40 between the government and private sector. By some estimates, the investments necessary to bring the location up to Olympic standards may exceed that of any previous Olympic games.
Read more about this topic: Sochi
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