The International Olympic Committee (IOC) has announced that it will contribute its share of the surplus from the organizational budget of the Olympic Winter Games Beijing 2022, amounting to USD 10.4 million, to support the legacy of the Games.
This contribution will be given to the Chinese Olympic Committee (COC) and will focus on the development of sport in China, particularly the involvement of young people in winter sports.
The Beijing 2022 Organizing Committee revealed that they achieved a surplus of USD 52 million from their budget of USD 2.29 billion, thanks in part to the substantial support provided by the IOC. IOC President Thomas Bach commended the success of the Games, which engaged 346 million Chinese people in winter sports, despite the challenges posed by the global pandemic. The surplus contribution by the IOC aims to benefit young individuals participating in winter sports.
The positive financial results of Beijing 2022 were attributed to the strong Olympic brand and the record number of viewers and social media engagements. The venues used for the Games have reopened with plans in place for their year-round, multi-purpose utilization.
You can read the full press release here: IOC donates USD 10.4 million share of Beijing 2022 surplus to support Games’ legacy