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Beijing Olympic Costs Rising Over Increased Security Costs
In no surprise at all, spending in preparation for the 2008 Summer Olympics in Beijing is skyrocketing.
Heightened security costs and a 10 percent appreciation of the yuan the past two years have already increased Beijing's Olympic budget from $1.6 billion to $2 billion, said Liu Jingmin, executive vice president of the Beijing Organizing Committee for the 2008 Olympic Games.
Beijing is preparing for 1.7 million visitors and a global audience of billions for its first Olympic Games. Chinese officials have also said they would tighten air security before the Games because increased flight demands can increase the risk of terrorism.
Photo National Olympic Stadium in Beijing, also known as
the Bird's Nest, by REUTERS/Jason Lee/Landov
The total planned spending is still below the $2.4 billion Athens organizers spent on the 2004 Summer Games.
But there's still more than nine months to go before the 2008 Summer Games begin on Aug. 8, 2008.
Plenty of time for the record to be broken.
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