BEIJING: The "curse" of Olympic overspending looks set to strike again at the Beijing Games, with stringent Covid measures and loss of ticket sale revenues pushing up costs for China. Budget was a key part of China being awarded the Games, with Beijing winning the bid over only one other contender as other cities backed out over high costs. Beijing Olympics communications manager Zhao Weidong recently admitted to reporters that the pandemic might mean a need to "increase some expenses." In 2015, Beijing said it was counting on a budget of just over $3 billion, which included the costs of organizing and building sports facilities. The cost of hosting the Olympics usually doubles between the award date and the opening ceremony, experts say.

Source: Manila Times January 24, 2022 02:18 UTC