The venue
construction will account for 86% of the total at US$1.393
billion, road projects will be 6% at US$103 million, private
venue construction will be 3% at US$54 million, training venues
will be 0.6% at US$11 million, and other costs make up the last 4% at US$59 million.
Of the total budget
the Korean government will cover 19%, the Incheon government
78.9%, private 2% and the neighboring city government
will carry 0.1%.
The announcement was
made by the Incheon Asian Games Organizing Committee (IAGOC) during the
Olympic Council of Asia (OCA) coordination committee meeting for the
17th Asian Games in 2014 and the 4th Asian Indoor and Martial Arts Games
in 2013 in the host city.
It was also announced
by IAGOC that the sports program for the Games had been trimmed down
and the number of sports was reduced from 42 to 36 and consequently the
number of venues from 53 to 49. This set a benchmark for future editions
of the Games to make them more cost effective.
OCA’s Coordination
Committee Chairman, Tsunekazu Takeda, said, “This can only be done with
the understanding of many people,” said Takeda, President of the
Japanese Olympic Committee. At the end of the meeting, he thanked IAGOC
for their “extensive presentation, hard work and wonderful
arrangements”.
The 61,000-capacity
Main Stadium will be completed three months earlier in April of 2014
instead of July and it will host the opening and closing ceremonies plus
athletics. Work is already underway as of June of this year and is
expected to take 35 months for completion.
That's a lot of money for these Games, and to thing will they get that return on investment? I mean is Asian Games going to get the same level of sponsorship money, same TV media exposure, same ticket sales, tourists, and business investments as the Olympics. Most likely not, meaning not so much future nations to host these Games, only maybe Japan, Korea, China and the Arab nations and rotate between these few. Which is sad, be much better bring these budgets down, and see the Games go over Asia, to places like Nepal, or Mongolia, be really Asian in span.
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