China makes $450m in sponsorship from Asian Games
Guangzhou: Organisers have raised more than 3.0 billion yuan (USD 443 million) in sponsorship for November`s Asian Games in Guangzhou, offsetting almost a third of the 10 billion yuan core costs of hosting the event.
Fang Daer, the director of marketing for the organising committee of the Nov. 12-27 Games, revealed the figures in a media briefing reported in local media on Wednesday.
Although dwarfed by the 20.5 billion yuan made by the marketing campaign for the 2008 Beijing Olympics, Guangzhou`s revenue from its 46 corporate partners is a healthy return.
The core costs of building and renovating sporting venues are just part of the huge investment in the infrastructure of the southern metropolis being undertaken ahead of the Games.
Local media is estimating the final bill could come to more than USD 30 billion.
Fang would not comment on those estimates, the South China Morning Post reported, but said the benefits for the city would be long-lasting.
"There is expenditure on Games-related projects such as improving the infrastructure of Guangzhou city through a better transport system, and on improving air and water quality," Fang said.
"But this expenditure will help provide a better living environment for the citizens of Guangzhou.
"All the spending is under tight scrutiny and what it puts in place can leave a legacy for the people."