In the aftermath of the Singapore 2010 Summer Youth Olympics, the Singapore government said it underestimated the cost of hosting the inaugural Games, which saw initial estimates of S$107 million balloon to S$387 million.
Vivian Balakrishnan, Minister for Community Development, Youth and Sports, is quoted as saying, “we were plain wrong. We…underestimated the requirements and the consequential cost for several major functional areas in hosting the Games. You just look at the cost of feeding people, moving people, transport and logistics, that already was over S$40 million”.
On the up side he added, “Singapore will now be remembered as the country that hosted the world’s first Olympics for youth. The investment is an amount that will give us value for money in terms of positioning and marketing ourselves, and making sure we are on the international community’s radar screen”.
The event was praised by International Olympic Committee (IOC) President Jacques Rogge but criticized by media for its lack of big names and poor attendance.
Innsbruck is to host the first Winter Youth Games in 2012 and Nanjing will stage the second Summer Games in 2014.
