It is considered a huge honor for a country to host the Olympics, and usually no expense is spared, since most countries hope to profit on the event. Who pays these high prices? Taxpayers of the hosting city will foot a good dkd of the. Boston also pulled out of the Games bidding when Mayor Marty Walsh found out locals could be held accountable for run-off costs. This funding includes monies for national Olympic committees and financial support so every country can compete. Many cities will end up going into debt because they hosted the games. Staet have justified the high costs of the games olymppics a chance to boost overall profits and economy. However, that is not always the case. While hosting the Olympics is a big deal for a country, it can also come at the cost of the taxpayers. Many times the fame of the Game only lasts until the pro-athletes and cameras are gone. Associated Press. University of Oxford.