Vietnam earns income one tenth of cost of hosting sports events
Tuesday, November 03, 2015, 18:24 GMT+7
Vietnam is expected to recoup just one tenth of the spending on hosting the 31st Southeast Asian (SEA) Games in 2021.
The country will spend VND1,757 billion (US$78 million) organizing the 2021 SEA Games but can anticipate a revenue of just VND190 billion ($8.4 million), according to the plan submitted to the central government by the Ministry of Culture, Sports and Tourism.
That represents a ninth of total spending.
Of the VND190 billion, television rights account for VND65 billion ($2.9 million), food and accommodation paid for by national delegations VND100 billion ($4.4 million), and sponsorship VND25 billion ($1.1 million).
The situation is similar to the two previous major tournaments held in Vietnam: the 22nd SEA Games in 2003 and the 3rd Asian Indoor Games in 2009.
Ha Quang Du, former minister and chairman of the National Committee for Sports and Physical Training, recalled that Vietnam spent nearly VND5 trillion ($222.2 million) on the 2003 SEA Games.
The construction of the My Dinh national sports complex cost VND3 trillion.
Vietnam then planned to earn VND80 billion ($3.6 million). After the event, the real income from hosting the regional multi-sport tournament was not announced.
In 2009, Vietnam hosted the third Asian Indoor Games, which cost VND2 trillion ($88.9 million).
Aside from the expense of the construction of the Hanoi Athletics House at VND500 billion ($22.2 million), the remaining cost was used to pay organizational fees.
The event earned Vietnam a mere $1 million.
The 31st edition of the SEA Games is scheduled to be held from late November to December in 2021 in Hanoi and other surrounding localities such as Bac Ninh, Hai Duong, Hai Phong, Ha Nam, Nam Dinh, and Hoa Binh.
The tournament will include the participation of around 20,000 people, including 7,000 athletes.
Vietnam will offer competition in 30-36 sports including athletics, aquatic sports, 23 sports belonging to the Olympic and Asian Games, and five other sports the host is strong at, including chess, pencak silat, vovinam, sepaktakraw, and petanque.
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