Fiscal responsibility is our priority.
To ensure we have the most economically beneficial Olympics, we have a budget of only 7 billion Euros. Our goal is to have an event that unites the world while improving our country’s economic growth. By limiting ourselves to 7 billion Euros, we ensure to spend money only on what’s necessary to run a fun, secure and efficient Olympics.
Brussels is a city fascinated with sports. It features teams from all different sports but the stadiums hosting these teams are incapable of hosting the Olympics. This is why we are spending a large portion of our budget building high quality Olympic caliber venues. We are building these in southern Brussels to further develop that community and neighbourhood.
Uniting the world is our main goal for the Olympics, but we also want to ensure our athletes, fans and media are safe and feel safe. We are spending another large portion of our budget on security. This includes security guards in the Olympic Park, a new CCTV system and employment of security camera screeners.
The opening and closing ceremonies are important parts of the Olympics. Over the years countries have been spending more on these ceremonies, but they are often unremembered. Our goal is to create an iconic and memorable ceremony, while spending a reasonable amount of money. For this we are only spending 100 million Euros on the ceremonies. Finally, to ensure the media, fans and athletes have the least travel time possible to their destinations, we will be improving metro, bus, tram, road and park and ride systems.
Our total budget reaches around €5.4 billion. With the expected funding of $10 billion CAD, this leaves more than $640 million for contingencies. As these are the Olympic Games, it is expected that many unforeseen costs will arise and pre-determined costs will increase. Most Olympic Games do end up going over budget, which is why we are carefully considering what is necessary and essential to the success of the Olympic Games. We also have around a seventh of our budget set up for contingencies, which compared to many bids is a high amount. We believe that these investments into security, transport and infrastructure will ensure a profitable Olympic Games.
Brussels is a city fascinated with sports. It features teams from all different sports but the stadiums hosting these teams are incapable of hosting the Olympics. This is why we are spending a large portion of our budget building high quality Olympic caliber venues. We are building these in southern Brussels to further develop that community and neighbourhood.
Uniting the world is our main goal for the Olympics, but we also want to ensure our athletes, fans and media are safe and feel safe. We are spending another large portion of our budget on security. This includes security guards in the Olympic Park, a new CCTV system and employment of security camera screeners.
The opening and closing ceremonies are important parts of the Olympics. Over the years countries have been spending more on these ceremonies, but they are often unremembered. Our goal is to create an iconic and memorable ceremony, while spending a reasonable amount of money. For this we are only spending 100 million Euros on the ceremonies. Finally, to ensure the media, fans and athletes have the least travel time possible to their destinations, we will be improving metro, bus, tram, road and park and ride systems.
Our total budget reaches around €5.4 billion. With the expected funding of $10 billion CAD, this leaves more than $640 million for contingencies. As these are the Olympic Games, it is expected that many unforeseen costs will arise and pre-determined costs will increase. Most Olympic Games do end up going over budget, which is why we are carefully considering what is necessary and essential to the success of the Olympic Games. We also have around a seventh of our budget set up for contingencies, which compared to many bids is a high amount. We believe that these investments into security, transport and infrastructure will ensure a profitable Olympic Games.
A private-public partnership.
The 2024 Olympic Games will be financed through a public and private partnership. This partnership will involve several major sponsors, mostly repeating sponsors from previous Olympics, such as soft drink companies and athletic wear companies. The partnership will also involve multi-tiered funding from various levels of government, including municipal, regional, national and even the European Union, which we are in the process of discussing a funding plan with other countries. Deeper integration between the European nations brings joint goals, and one of these current goals is bringing the Olympics to the capital of the European Union, Brussels. We felt that it was appropriate for this effort to be a collaboration of not only Belgian levels of government but small European contributions as well.
The file below is a complete copy of our budget, including a breakdown of costs on multiple sheets.
![](http://www.weebly.com/weebly/images/file_icons/xls.png)
Brussels 2024 Olympic Bid Budget | |
File Size: | 14 kb |
File Type: | xlsx |