While official figures stated that Beijing spent US$15 billion on the Olympic Games, some reports have claimed that this figure was actually closer to $40 billion. By contrast, the China Daily newspaper said that Nanjing has set a Games-related budget of $315 million. Indeed, Youth Olympics officials have visited London to see how the English city has utilised temporary facilities in its staging of the 2012 Olympic and Paralympic Games.
Nanjing Party chief and 2014 Games organising committee president, Yang Weize, told China Daily that the city would closely monitor spending on new competition and training venues, amid complaints from Nanjing residents that costs are already beginning to grow. “No new venues will be built if old ones can be renovated,” said Yang. “No new facilities will be purchased if old ones can be repaired, no equipment will be bought if (it) can be rented, and they won't be rented if they can be borrowed.”
Organisers stated that 25 of Nanjing 2014’s 34 venues will be redeveloped, with five temporary facilities taken down after the Games and a further four new venues being available for public use after the event. “Nanjing will spend no more than Singapore,” added Nanjing's public relations director Ding Ming.
Singapore staged the inaugural Summer Youth Olympic Games in 2010, while Nanjing headed off competition from the Polish city of Poznan to land the 2014 Games in February 2010.
By Matt Cutler
Source: www.sportbusiness.com