Here’s how much the 2017 World Aquatics Championships will cost Hungary

There are many rumors in the media about the actual costs of the 2017 World Aquatics Championships, but atlatszo.hu calculated how much money the government will really spend, based on government decisions and the amount of money that was separated from the budget each year.

Based on the findings, atlatszo.hu estimates that the Championships will cost Hungary at least 89.843 billion HUF. The majority, 52 billion HUF will be spent this year, but an additional 25 billion HUF will be needed in 2017. Exact numbers can only be revealed after the Championships have already ended, and there are additional costs, like the construction of buildings, stadiums etc. which are although included, but would have been built regardless of the Championships.

The first official report estimated that the Championships will only cost 8 billion HUF, but it has soon escalated. Hungary won the rights to host the 2017 World Aquatics Championships in 2013 and it was supposed to be held in 2021, but after Guadalajara, Mexico dropped out, Hungary was chosen as the host of the 2017 Championships.

The estimated 89.843 billion HUF so far includes the building and reconstruction of all the swimming pools and complexes, the reconstruction of several buildings on Margaret Island and the Pest-side quay, and the costs of the events.

The government has spent 1.4 billion HUF in 2013, 1.585 billion HUF in 2014, and 6.979 billion HUF in 2015, so far; it’s estimated to spend 52.201 billion HUF in 2016, 25.748 billion HUF in 2017, and 1.93 billion HUF in 2018.

The complete list of expenses includes the renovation of the Dagály Swimming Complex (47.208 billion HUF), the developing of Budapest’s infrastructure (13.908 billion HUF), the costs of organization (10 billion HUF), the reconstruction of different swimming pools (8.203 billion HUF), the Dagály bath (4.831 billion HUF), developing the infrastructure of Balatonfüred (2.659 billion HUF), copyright fees paid to FINA (International Swimming Federation) (1.933 billion HUF), the construction of a ferry terminal (0.799 billion HUF), and the preparation of the World Championships (0.3 billion HUF).

The final estimation of atlatszo.hu is then 89.843 billion HUF, but additional costs may arise later. Also, the income this event generates can also reduce expenses. Again, the final numbers can only be told after the event has ended, because the organizer receives 100% of the sold tickets, and Budapest will also host the Masters World Championships after the two-week long World Aquatics Championships, which is estimated to have 10-14,000 viewers and high-entry fees; also, visitors and tourists will need accommodation, which will generate income for Budapest. Sponsors (the Championships’ first main national sponsor is Magyar Telekom) can also reduce expenses.

Copy editor: bm

Source: atlatszo.hu