07 July 2010

YOG costs $387 million

Youth Olympic Games to cost $387 million@red sports

It will cost Singapore $387 million to host the upcoming Youth Olympic Games, three times the original estimate of $122 million.
The Ministry of Community Development, Youth and Sports (MCYS) said that money was spent to upgrade existing venues to allow international broadcasting. Also, the number of volunteers have gone from the 7,000 to 20,000.
Local companies were awarded $260 million worth of contracts as a result of the YOG. The companies include CityNeon Holdings and Pico Global Service (both for events and exhibition services), Comfort-Delgro (transport), Singapore Food Industries, Select Group (catering), CISCO (auxiliary police), NCS (software system, data centres management) and Purechem Veolia (cleaning).
The government expects an estimated 40,000 foreign visitors and tourism receipts of about $57 million.

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