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Rio Olympics declares budget of $US2.8 billion

Transolímpica will link the Athletes’ Village and Olympic Park in Barra to Deodoro.

Transolímpica will link the Athletes’ Village and Olympic Park in Barra to Deodoro, the site of the Rio 2016 equestrian events. © Beth Santos

The organising committee for the 2016 Rio Olympic Games has announced a budget of $US2.8 billion for the Olympic and Paralympic Games.
The funding of R$7 billion will be drawn from private sources, in the form of sponsorship, ticket sales, licensing and the International Olympic Committee (IOC) contribution.

rio-2016-bThe budget is based on the total private funding estimated in the Rio candidature file from 2008, of $US1.7 billion (R$4.2 billion), which has been adjusted upwards by 31.89% in line with inflation, as measured by the official Brazilian indicator, and amounts to R$5.5 billion ($US2.28b) in current terms. Expenses occurring after the award of the Games to Rio have also been included, such as the entry of four additional sports – rugby, golf, paracanoe, and paratriathlon – to the Games programme. Implementation of technological improvements and new regulatory requirements, as well as the above-inflation rise in average salaries in Rio, have all contributed to bringing the total to R$7 billion.

“Our obligation to Rio de Janeiro, to Brazil and to the worldwide sporting community is to deliver memorable Games, since we are talking about the biggest celebration of sport in the world. We are undertaking the mission of planning and organising the Games in a responsible manner,” said Rio 2016 Organising Committee President Carlos Arthur Nuzman.

The Rio 2016 Games will host 65 Olympic and Paralympic championships, with the participation of 16,000 athletes and delegations from 204 countries, 4500 technical officials, 70,000 volunteers and over 25,000 media professionals, whose logistical needs in terms of accommodation, food and transport are the responsibility of Rio 2016.

The Rio 2016 Organising Committee Chief Executive Officer Sidney Levy said that the committee had “undertaken a line-by-line critical analysis of the budget, to balance known spending commitments and be able to meet new obligations as they arise. We are striving to achieve a zero contribution of public funds to the committee”.

Equestrian sports are to be held at the Deodoro Cluster, at Brazil’s National Equestrian Centre. Construction began in November of the new Transolímpica tunnel to connect Deodoro to the Barra Olympic Park. The tunnel will be the fifth longest in Rio de Janeiro, going through several neighbourhoods.

As well as the equestrian sports, Deodoro will host the cycling (mountain bike and BMX), modern pentathlon, shooting, canoeing (slalom), hockey and fencing. For the Paralympics, it will be home to shooting, equestrian and wheelchair fencing.

The Rio de Janeiro City Government is to open the second of the four new Bus Rapid Transit (BRT) lines this year. The Transcarioca is a 39km express bus corridor linking the Barra da Tijuca (the neighbourhood at the heart of the Games) to Rio’s international airport.

A Light Rail Transit line linking Rio’s main coach station with the city centre, revitalised port area, Santos Dumont Airport, ferry terminal and the new Morro da Providência cable car is also starting construction this year.

The closing ceremony of Rio 2016 will also mark the 30th birthday of Jamaican sprint superstar Usain Bolt, who has announced he will retire from athletics later that year or in 2017.

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