Most Expensive Events in the World

In a world full of fancy and special events, there are a few that stand out for their extravagant spending and exclusive nature. These events are not just parties; they are carefully planned shows that represent the best of luxury, elegance, and glamour.

Here at these events, celebs and artists spend their fortune to have a perfect eye-catching look. Millions are spent to hosting such mega events and to make them unforgettable and unique every year. Let’s take a look at some of the most expensive events in the world, where people are ready to spend heavily just to be a part of something so prestige.

List of the Most Fancy and Famous Events in the World

Here are some of the most exclusive events in the world where celebrities and notable personalities spend millions for their perfect camera-catching looks. Also, most of the provided costs are estimated, ranging somewhere between these costs.

Opening of the World Expo 2010 Shanghai, China

The World Expo 2010 in Shanghai, China, proudly touted as the “biggest outdoor entertainment event in history,” has set unprecedented records in scale and cost. Initially conceived as a modest affair, the event, likened to the Olympics but significantly larger, ended up becoming the most expensive event in history. Officially budgeted at $4.2 billion, the cumulative spending on infrastructure and preparations soared to over $58 billion.

In contrast, the United States, exhibiting a more reserved approach, initially faced challenges in funding its pavilion at the Shanghai Expo. Strict federal laws barred government funding without express Congressiona authorization, and in the midst of an economic downturn, American companies hesitated to contribute. With last-minute efforts led by Secretary of State Clinton, coupled with an improving economy, the U.S. secured $61 million to build its pavilion. While American participation reflected a more measured economic perspective, China’s colossal spending underscored both ambition and a willingness to invest in grandeur as a symbol of its ascendancy on the world stage. Read more about the most expensive commercials in the world.

Met Gala

The Met Gala or Met Ball, previously known as the Costume Institute Gala or the Costume Institute Benefit, is an annual fundraising extravaganza held in New York City to benefit the Costume Institute of the Metropolitan Museum of Art. The Met Gala is regarded as the world’s most famous and elegant fashion event and social gathering, and is dubbed “fashion’s biggest night”; invitations are in high demand.

Personalities from many professional fields, including fashion, cinema, television, music, theater, business, sports, social media, and politics, who are deemed to be culturally significant to current culture, are invited to attend the Met Gala, which is organized by the fashion magazine Vogue. The Gala is an annual event conducted on the first Monday of May to celebrate the opening of the Costume Institute’s annual fashion exhibit. It is located on Manhattan’s Upper East Side. The cost of hosting such extravagant events is also high ranging between 30 to 60 million USD. Read more about the most expensive sporting event tickets in the world.

Academy Awards (Oscars)

The Academy honors, sometimes known as the Oscars, are cinema industry honors for creative and technical quality. They are given out each year by the Academy of Motion Picture Arts and Sciences in Beverly Hills, California, to recognize excellence in cinematic achievements as judged by the Academy’s voting membership.

The major award categories are awarded live on television during a Hollywood event in February or March. It is the world’s oldest entertainment awards show. The first Academy Awards were held in 1929, the second in 1930, broadcast from radio, and the 1953 event was the first telecasted from TV.

Only in 2023, the Academy Awards ceremony cost around $56.8 million to produce. The price tag includes the construction of the red carpet, installing seats, and other expenses related to hosting the event. Additionally, the gold-plated Oscar awards themselves cost approximately $400 each, while the estimated cost of each 24-karat gold-plated mini statue awarded to winners is around $400. Other expenses include the cost of goods given to nominees, such as $200,000 worth of products in the Oscar goodie bags, and the cost of advertising during the broadcast, which can reach nearly $2 million per 30 seconds. Read more about the most expensive celebrity photographs in the world.

Cannes Film Festival

The Cannes Film Festival (French: Festival de Cannes), previously known as the International Film Festival (Festival International du film) until 2003, is an annual film festival held in Cannes, France, that showcases new films of all genres, including documentaries, from across the globe. The invitation-only event, founded in 1946, is held yearly (typically in May) in the Palais des Festivals et des Congrès.

The FIAPF officially recognized the event in 1951. Along with the Venice Film Festival in Italy and the Berlin Worldwide Film Festival in Germany, it is one of the “Big Three” major European film festivals, as well as one of the “Big Five” major around the world film festivals. The cost of arranging and hosting such an enormous event is in millions about $15 – $30 million, which is huge. Celebrities from all over the world participate in this event.

Golden Globe Awards

The Golden Globe Awards are prizes given by the Hollywood Foreign Press Association (HFPA). Winning a Golden Globe is considered a big honor in the entertainment industry. The Hollywood Foreign Press Association, which is a group of journalists, organizes this event every year.

Since 1944, an annual award ceremony has been conducted to celebrate artists and professionals for their achievements. The event, which is expected to cost between $10 million and $20 million, combines a gala supper with the presentation of prestigious awards. The budget includes venue arrangements, celebrity accommodation, and the preparation of the unique Golden Globe Awards. The Golden Globes statuettes are crafted by six artisans at a small factory in Oklahoma using high-tech machines and cost around $2,000 to produce, while Academy Awards (Oscars) are estimated to cost $1,000. Read more about the most expensive events in the world.

Monaco Grand Prix 

The Monaco Grand Prix (French: Grand Prix de Monaco) is an annual Formula One motor racing event held in late May or early June on the Circuit de Monaco. The Monaco Grand Prix is a well-known car race that has been held annually since 1929. People from all over the world wish to spectate this great event. The track has been described as “an exceptional location of luxury and prestige.” Formula One races are generally held on the last weekend of May. This historic race, with a price ranging from $10 million to $20 million, takes place on the narrow and elegant streets of Monaco. The costs include temporary infrastructure building, better security, and hosting elite parties and events.

Art Basel 

Art Basel, founded in 1970, has grown in reputation in the art world, organizing four yearly fairs in Switzerland, Miami Beach, Hong Kong, and Paris. The event draws a distinguished clientele of rich art collectors by collaborating with notable businesses such as UBS, Louis Vuitton, and Audemars Piguet. According to a recent poll, 77% of collectors have increased their trust in the art market’s future. Art Basel is increasing its connections with large businesses and expanding its reach into related creative industries in order to cater to these collectors. To arrange such a lavish event the cost goes up to 5 to 10 million dollars. 

Venice Film Festival

The Venice Film Festival (Italian: Mostra Internazionale d’Arte Cinematografica della Biennale di Venezia, “International Exhibition of Cinematographic Art of the Venice Biennale“) is an annual film festival held in Venice, Italy. The festival was formally authorized by the FIAPF in 1951. Celebrities and artists from all around the globe spend millions to be a part of this huge event. It is the world’s oldest film festival and one of the world’s “Big Five” international film festivals, along with the Big Three European Film Festivals, the

Toronto Film Festival in Canada, and the Sundance Film Festival in the United States. The festivals are globally renowned for allowing creators to express themselves artistically via cinema.With a budget ranging from 4 million to 8 million, the event covers venue arrangements, film screenings, and the organization of glamorous red carpet premieres.