Singapore Government “plain wrong” over YOG budget 17/09/2010 |
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The Singapore Government has admitted it underestimated how much it would cost to host the inaugural Youth Olympic Games (YOG).
The 12-day event, which took place in August, was supposed to cost S$107m to stage, but that figure skyrocketed to S$387m.
"We were plain wrong," minister for community development, youth and sports Vivian Balakrishnan said.
"We underestimated the requirements and the consequential cost for several major functional areas in hosting the Games.
"You just look at the cost of feeding people, moving people, transport and logistics – that already was over S$40m."
But the minister pointed out that Singapore had benefited from the Games, which showcased its ability to host big events and helped build its brand around the world.
"Singapore will now be remembered as the country that hosted the world's first Olympics for youth," he added.
"The investment is an amount that will give us value for money in terms of positioning and marketing ourselves, and making sure we are on the international community's radar screens."
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