Games gathering:
Secretary for Home Affairs Tsang Tak-sing (second, left) releases the consultation document on Hong Kong's bid for the 2023 Asian Games.
Home Affairs Bureau
The Home Affairs Bureau aims to enrich life by supporting and promoting the development of the arts, culture, sports and recreation, preservation of cultural heritage and beautification of the environment, and to build Hong Kong as a vibrant, caring and harmonious community.
Asian Games to cost up to $14.5b
September 21, 2010
The direct total cost for Hong Kong to host the 2023 Asian Games will be $13.7 to $14.5 billion, made up of $3.2 to $4 billion in operation costs and $10.5 billion in capital costs, according to a consultation document.
The paper highlights the Home Affairs Bureau's three-pronged strategy proposal, in which the Government makes optimal use of existing sports facilities, expanding those under planning, and expediting studies on redeveloping old facilities and building new ones.
Projects which would not have been planned and rolled out if Hong Kong is not hosting the games will amount to $10.5 billion at current price levels, with expenditure spread over 10 to 13 years.
Projects not built for the games but needing to be brought forward for staging the games in 2023 will cost $30.17 billion. These include the multi-purpose stadium complex at Kai Tak, two new sports centres and a new sports ground.
The additional recurrent cost of managing and maintaining upgraded sports centres after the games will be $15.6 million per year.
About $700 million to $860 million of the costs can be offset by ticket sales, merchandising and sponsorships.
Sport, social boon
Secretary for Home Affairs Tsang Tak-sing said the games will stimulate greater public interest in sport and reinforce social cohesion.
"The games will also bring economic benefits to Hong Kong by attracting businesses and tourists as well as creating more jobs."
An athletes' village of 3,000 flats can be planned, built and operated by public companies, but the Government is open to views on the issue.
He said no Mainland cities plan to bid for the next two Asian Games, giving Hong Kong an important "window of opportunity".
Views on the consultation document should be submitted by November 3.
