Beijing Games turns 176 mln dlr profit
The Beijing Olympic Games turned a profit of 176 million dollars,
although the figure failed to include more than 2.8 billion dollars in
venue construction costs, China’s state auditor said Friday.
The audit, which covered the period from September 2008 to March of
this year, “did not uncover any large losses, wasteful spending or
illegal issues,” the General Audit Office said in its report.
Revenue from the August Games is expected to total 20.5 billion yuan
(3.0 billion dollars), while expenditure will come in at 19.3 billion
yuan, the office said, adding the Games accounting has not been
finalised.
But the total bill for venue construction was expected to be 19.5
billion yuan (2.8 billion dollars), with most of the funds coming from
local government funding, it said.
The venues included 36 stadiums used in the Games, and 66 training
facilities, it said.
“The Beijing Games was not the most expensive Games ever,” an audit
official said in remarks posted on the office’s website.
“Based on fixed exchange rates, the scope of expenditure of the
Beijing Games was less than the previous Games. At the same time as far
as we are aware, the next Olympic Games budget will be bigger than the
Beijing budget.”
Up to 40 percent of the Games operating revenue was provided by the
International Olympic Committee (IOC), the audit showed, while other
income came from local sponsorship, lodging, ticketing and other revenue
streams.
The operating profit would be divided between the IOC, the China
Olympic Committee and the Beijing Games organising committee, it said.
BEIJING, AFP |