Rio 2016 Reveals 27% Budget Growth
Rio 2016 has revealed a budget of 7 billion Brazilian real (£1.8 billion) for its hosting of the Summer Olympics and Paralympics, with the updated figure representing a 27% increase on its original cost estimation.
This rise is reportedly due to the introduction of four new sports – rugby sevens, golf, Paracanoe, and Paratriathlon – to the Games programme and inflation, according to the Organising Committee.
However, despite this increase, the budget is still well below those for London 2012 and Sochi 2014 at £8.77 billion and 1,661 billion roubles (£31 billion) respectively.
Brazil’s Government agreed to make up any shortfall when the nation was awarded the hosting rights for the Games in 2009.
The Rio 2016 Olympics and Paralympics are scheduled to take place from 5th to 21st August and 7th to 18th September respectively.
