Davos And St. Moritz 2022 Gets Support From Swiss Government

The Associated Press reports Switzerland’s government has pledged its support for a Davos and St. Moritz 2022 Winter Olympic Games.

The Swiss Federal Council says public funds should cover $1.05 billion of the projected shortfall of a 2022 bid. According to a feasibility study the estimated costs are $2.9 billion and the income is $1.5 billion.

The seven-member executive body has suggested paying half the expected $62.6 million cost of bidding and has asked the federal sports ministry to report back to lawmakers.

Switzerland last staged the Olympics in 1948 at St. Moritz, which also hosted the Games in 1924.

The host city of the 2022 Winter Olympics will be selected by the International Olympic Committee (IOC) in 2015.