Where am I?
Home > Chronicles > Economy > World
Saturday, November 21 2009 15:50h
AUDITOR REPORT
Beijing Makes $146 Mln From 2008 Olympics
The state audit office said the profit was more than double the most recent estimate of 410 million yuan.
Beijing Makes $146 Mln From 2008 Olympics
The Newest Articles
Bird`s Nest

Author
Author
Reuters
File photo
TEXT
Published: June 19, 2009 10:39h
China made an operating profit of over 1 billion yuan ($146 million) from the 2008 Summer Olympics, the National Audit Office said on Friday.

Most Olympic host cities make money from running the Games -- Athens in 2004 reported an initial operating profit of $155 million -- but the bills for building stadiums and other infrastructure can take many years to pay off.

The state audit office said the profit was more than double the most recent estimate of 410 million yuan.

Operating revenues totalled 20.5 billion yuan, mainly from broadcasting rights, sponsorship, merchandise and tickets.

Expenses were 19.3 billion yuan, including 5 billion yuan for broadcasting, accommodation, transport and medical services; the opening and closing ceremonies cost 831 million yuan.

The audit office said the Beijing Organising Committee for the Olympic Games (BOCOG) had kept good control of revenues and expenditure "with no major irregular problems".

Arriving at a final price tag for the Games would involve calculating the cost of closing thousands of factories to ensure clean air during the Games, offset by the value of the international publicity the Olympics generated.

Related Articles
ADS
ROLLS-ROYCE

Rolls-Royce says car market picking up in Asia

The Britain-based carmaker had a bumper year in 2008 when it sold a record 2,012 cars...
WALL STREET

Wall Street down on technology jitters

The Dow Jones Industrial Average dipped 10.95 points (0.11 percent) in opening trades...
GOLD PRICE

Gold rockets to record high above 1,150 dollars

Traders said the dollar's overall weak tone was due to the prospect of US interest rates...
TAKEOVER

Volkswagen board approves Porsche takeover

The company said it wanted to "modernise and expand its product line" and to enter "new...
GOLD PRICES

Gold demand climbs quarter-on-quarter

In dollar terms, the value of global gold consumption advanced almost 13 percent to 24.7...
CHOCOLATE MAKERS

Hershey and Ferrero will buy Cadbury?

The news could remould the chocolate-making sector with a takeover costing more than 10.0...
APEC

Obama joins APEC leaders for dress-up dinner

The leaders were to be treated to a spread of Singapore cuisine -- made less spicy and...

ADS
------------------
Copyright © 2006-2009 Javno.com   All rights reserved.