IOC reduces candidature budgets for 2026 Winter Olympics
The International Olympic Committee (IOC) on July 17, 2020 reduced the candidature budgets by almost 80 percent for 2026 Winter Olympics. The decision was taken while implementing recommendation 3 of the Olympic Agenda 2020.
The IOC said in a statement that the independently audited accounts of candidature process for Winter Olympics 2026 show that the average budget was less than USD 5 million, in comparison to approximately USD 35 million in the previous process for Winter Olympics 2022.
The IOC said that the reduction in cost was a direct result of the implementation of recommendation 3 of Olympic Agenda 2020, which called for a reduction in the cost of candidatures by further assisting interested parties. This information was shared during the IOC Session in the report of the IOC Olympic Games department.
• The IOC stated that with the 2020 Olympic Agenda, they have a more flexible and collaborative approach to help interested parties to align with the games for the long term.
• This has made Olympic Games projects much more affordable and accessible. The IOC hence received many expressions of interest for future Olympic Games
• The IOC revealed that the 2026 process was completely reformed to increase partnership, flexibility and sharing of knowledge.
• It began with a one-year non-committal dialogue stage, during which the IOC worked along with seven interested cities and National Olympic Committees.
• The IOC had offered them with additional support to help them develop games projects that could fit their local context best as well as meet their needs and long-term development plans.
• The IOC had also offered to provide technical services in partnership with its stakeholders that candidates would have had to procure themselves to be able to design their projects
• The services include interactive working sessions and expert advise and assistance in areas including Games concept, governance and operations, marketing, finance, legal, legacy and sustainability.
• The additional investment from IOC in services has resulted in the reduction of costs and creation of projects more suited for future hosts and the Olympic Movement.
The IOC has decided to take up a more targeted and streamlined approach to future host elections to ensure that flexibility and sustainability continue to be key drivers. This will pave the way for the interested parties to enter into a dialogue with the Olympic Committee. This will also allow the IOC to target a potential host if deemed beneficial to the Olympic Movement.