Wednesday 5 December 2012

Cost of the london 2012 olympics

Hi my name is Batinul Islam and i worked as a security guard in the Olympics and i had some questions that was on my mind while working during the Olympics games and that was how much taxpayer money it cost to fund London 2012 Olympics. after some research i have found some answer's. According to Daily mail online they have stated that the Olympic cost £24 billion but that is not an official figure. the official figure £11.3 billion, £9.3 billion came from the taxpayers money and £2 billion came from the London organizing committee of Olympics and Paralympic games. also another issue that i have is that i found that sky news added some cost that was left out from the official budget and they include anti-terrorism measures, buying land, conversion of the venue after the games, transport cost and anti doping staff. taking all of this to cost and the sums works out to be at £24 billion, over ten times the original budget and this creates a confusion on what figure to believe in £24 billion or £11.3 billion

I have found out from the official budget figure that was received £700 million was from the IOC (international Olympic committee), from local sponsors it received  £700 million and Ticket sales and merchandise was £600 million. This is where LOCOG (London organizing committee of Olympics games ) contributed 2 million towards the London Olympics games. also LOCOG is Privately funded

The Infrastructure and building venues cost around £5.3 billion, Paralympic funding was £400 million, security cost around £600 million, regeneration of Lea Valley cost around £1.7 billion, VAT was £800 million and £2.7 billion was contingency fund.

Please share your opinion below, also try doing questionnaire on the third page, Thanks


Below it shows which sport the UK government spent most money on and also there is a comparison between how much UK has spent and how much Brazil is going to spend for the upcoming Olympics.







the above data was obtained from bbc website.