IOC meeting could earn city HK$110m and draw thousands
Ten thousand overseas visitors, who will spend up to HK$110 million in total, will be attracted to Hong Kong if it is chosen to host the 2011 session of the International Olympic Committee, according to government estimates.
That prediction is made in a paper for discussion by legislators, which also estimates the cost of organising the event at up to HK$135 million.
Hong Kong is one of seven candidates vying to hold the session at which delegates will decide where the 2018 Winter Olympics will be held. The winner will be announced in August.
In the paper, the Home Affairs Bureau says past experience shows the meeting will attract about 300 delegations comprising 10,000 people and will benefit the city by raising its reputation for organising world-class international events.
It estimates the cost of hosting the meeting at between HK$123 million and HK$135 million, including HK$32 million to rent a conference venue and associated costs for meeting rooms, an international broadcasting centre, announcement hall and media briefing rooms.
It would cost an estimated HK$25 million to employ 30 staff to support the IOC Session secretariat, most of whom would be drawn from the private sector with some from the government. Security and support services for IOC members would cost about HK$23 million.
The Sports Federation and Olympic Committee, with the support of the government, will submit a bid by February 28 before beginning lobbying, which will continue until August.
A presentation will be made by all candidate cities in August at the Beijing Olympics, when the IOC will announce the winner.
The government plans to seek approval of estimated spending from the Finance Committee on February 22, to clear the way for the bid.
On Friday, the home affairs panel will meet to decide the spending it will support in relation to the bid.
Timothy Fok Tsun-ting, president of the Hong Kong Olympic Committee, said the IOC meeting, if held in the city, would enhance Hong Kong's reputation and benefit the tourism industry.
Coming to town?
The estimated cost, in HK dollars, of staging an International Olympic Committee meeting in the city in 2011 $135m
