This is the budget for the SEA Games and the organizers promised they would not exceed the budget this time. The last YOG was budgeted at $104m but finally cost more than $300m. Was the over spending due to inexperience or bad budgeting or just uncontrolled overspending? Anyway it is history. It must be good value for money spent.
With that experience, the current budget of $324.5m is just about there, about right. Not sure how is this computed, based on number of athletes or what? This SEA Games is for adults and they may need more in terms of food alone. Hope it is really enough and no more overspending.
With Leong Sze Hian somewhere in the mountain retreat, let me try to crunch some numbers here to see what it means. With 7000 athletes and officials, it would mean the Games will cost $46,300 per participants for the duration of 12 days. Or for each day, it will cost about $4,000 to host a participant. Cheap, quite cheap really.
If each participant were to spend $1,000 a day, the net loss will be $3,000 daily per participant. The break even should be for each participant to spend $4,000 daily during the Games duration. Of course the money is well spent for the publicity and goodwill generated. Now more people will know where is Singapore and how good Singapore is. They may migrate here to help us and to help us hit the 6.9m population target faster.
The overall picture is definitely money well spent. Oh, the participants need not have to choose whether to eat at the hawker centres, foodcourts or restaurants. The food quality is restaurant standard for sure. We have to play the good host and show them the hospitality of a first world country and standard. They will all return home with good memories of Singapore, the paradise on earth and would return, and return as tourists or future workers. Maybe they are our future PRs and citizens. This is called planning ahead and planting the seeds for the future. Oh, some may want to represent us and don our national colours, become our sporting citizens to bring glory to us.