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Beijing 2008 profit forecast: US$16M

Beijing's latest Olympics profit forecast is US$16 million on revenues exceeding US$1.6 billion, according to a senior official of the Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG).

"The exact [cost] is uncertain yet", said BOCOG Vice President Jiang Xiaoyu at an Olympic conference in Tianjin on April 15. "BOCOG has increased the budget in security and health areas in the wake of the September 11 terror attacks and the SARS epidemic." The most recent operating budget was estimated at US$1.609 billion, not including the costs of the many new sporting facilities to be constructed in Beijing and five other Chinese cities, although he emphasized that the total operational budget would be subject to adjustments due to "unforeseeable conditions" in the lead-up to 2008.

"The total proceeds from running the 2008 Games will reach about 1.625 billion dollars" Jiang went on to say, telling the forum's delegates that proceeds would flow from seven revenue channels, including broadcasting rights, tickets, sponsorships and donations.