Kazakhstan Wants Investors To Partially Fund Almaty 2022

Should Almaty Kazakhstan be selected to host the 2022 Winter Olympic Games, Tengrinews reports that the Ministry of Culture and Sports of Kazakhstan has decided to use a mixed model of funding for the Games.

The Ministry reportedly said that the country would have to cover only a third of all expected expenses, while the rest would be provided through sponsorship and advertising.

Tastanbekov Yesentai, Vice-Minister of Culture and Sports for Kazakhstan said, “Russia has used a mixed model at the Olympics in Sochi. Their income made $10 billion. Japan has officially declared that it would be able to earn $30 billion from hosting the Tokyo Summer Olympic Games in 2020. We also want to stick to the mixed model of financial management, in which the share of state involvement would be 33 per cent and the rest will be raised by investors. In that case we will be able to hold the Olympics in 2022 at a proper level.

Nail Nurov, director of Alau Ice Palace in Astana, has said that the Olympic Games “should become a celebration of sport, not a vanity fair, drawing attention to the rising costs of Olympic Games. He said the Olympic Games in Sochi cost more than $50 billion, which raised the bar to “unbelievable organizational heights”.

Nurov proposed dividing the Olympics between two cities – Almaty and Astana, reducing the number of facilities that Kazakhstan needs to build for the Olympics, but the idea was rejected by the National Olympic Committee of Kazakhstan.

Novikov added that Almaty had a good chance to win the bid and the city looked “solid in the competitions with Beijing”.

A decision on the host city for the 2022 Winter Olympic Games will be announced next summer in Kuala-Lumpur with Beijing Almaty’s only competitor. Oslo withdrew from the bid citing financial reasons.