Sochi Olympics Most Expensive Ever

olympicsSOCHI, Russia (CNN) — The little-known Russian town of Sochi is preparing to host the most expensive Olympic Games ever.

The staggering price tag of about $50 billion includes a major upgrade to Sochi’s infrastructure. It outstrips the $40 billion China is thought to have spent on the Beijing summer games, and it’s more than three times the cost of London 2012.

When it won the bid in 2007, Russia said the winter games would cost $12 billion. That figure ballooned as a huge effort to build new sporting venues, roads and hotels gathered pace. Many of the new facilities will also be used when Sochi hosts the soccer World Cup in 2018.

One of the biggest projects has been the construction of a high-speed rail line linking the Black Sea resort to the mountains.

Security concerns have escalated sharply since Sochi was awarded the games. Efforts to ensure a safe event could push costs even higher following a series of recent attacks in neighboring regions.

The games run Feb. 7-23.