The Total Cost of Beijing’s Summer Olympic Games

The National Stadium, venue of the opening and closing ceremonies with a capacity of 91,000 persons.

After a long wait of seven year, the Chinese people are anxiously waiting for the opening of their spectacular 2008 Summer Olympic Games next week.

The 2008 Summer Olympic Games, officially known as the Games of the XXIX Olympiad is a Summer Olympics event, that will be held in Beijing, People’s Republic of China from August 8 to August 24, 2008. 10,500 athletes are expected to compete in 302 events in 28 sports, just one event more than the 2004 games.

This will the most expensive of all Olympic Games ever held. The Chinese government has promoted the games to highlight China’s emergence on the world stage and has invested heavily in new facilities and transportation systems.

When the Chinese Communist regime planned the budget for the Summer Olympic Games years ago, the budget was estimated at 30 billion Yuan. However, by the end of March 2008, the estimate has gone up to over 400 billion ($58.5 billion).

According to “Zheng Ming Magazine”, The Beijing Olympic Games are listed as the top priority of the four major tasks in 2008 by the Chinese Communist regime. After China won the bid to host the Olympic Games, the Chinese Communist regime estimated that the cost would be between 28 to 30 billion Yuan; this included the cost for building stadiums, the Olympic Village, a complete transport package and subsidiary facilities.

However, the budget kept going up every year. By the end of March 2008, the cost has gone over 400 billion, and more funding is required from the central government to cover the cost for security, subsidiary facilities and maintenance work.

The Olympic Games have been used by the Chinese Communist Party (CCP) as another one of their “face projects” and they are trying to beautify things at all costs. According to the latest estimate by the Beijing Olympic Game Organizing Group, the total expenditure in relation to the Olympic Games will be as high as 65 billion U.S. dollars, equivalent to 450 billion Yuan. The current total cost will be five times the cost of the 2004 Olympic Games in Athens.

Driven by the “face project” mentality, the CCP officials are extremely extravagant when it comes to spending money and this is the fundamental reason for the record cost of the Beijing Olympic Games.

When will the Beijing’s 2008 Olympic Games raise its curtains? It’s a symbolic number marked by the number eight. The Beijing Olympics will be broadcasted live starting at 8:08:08 in the morning of August 8th (US EST). It will be at 8th second of the 8th minute of the 8th hour of the 8th day of the 8th month (August) of the 8th year in the millennium. (8:08.8 08/08/2008).

If you like huge entertainment exhibitions, this event should be on your top list. Earlier in 2007, former IOC president Juan Antonio Samaranch had said that he believes that the Beijing games will be “the best in Olympic history,” Remember that August 8th is next Friday. Au revoir!