WEBVTT 00:00:01.200 --> 00:00:03.600 Beijing promise to host the Winter Olympics, 00:00:03.600 --> 00:00:06.500 for the low price of 3.9 billion dollars. 00:00:07.500 --> 00:00:10.100 That would make it the cheapest games in two decades. 00:00:11.900 --> 00:00:16.000 The behind headlines of sustainability and savings is a catalogue 00:00:16.000 --> 00:00:19.200 of spending that could actually land, Beijing among the most 00:00:19.200 --> 00:00:20.500 expensive games in history. 00:00:23.100 --> 00:00:27.100 You might hear with regard to Beijing 2022 and that the budget 00:00:27.100 --> 00:00:29.500 is 3.9 billion dollars. 00:00:29.500 --> 00:00:31.500 What does that mean? 00:00:31.500 --> 00:00:36.200 Almost nothing. We may never know some of the cost but others 00:00:36.200 --> 00:00:39.700 are hiding in plain sight, what the artificial snow covering 00:00:39.700 --> 00:00:40.300 these mountains. 00:00:43.100 --> 00:00:46.100 We come through these reports press releases in official 00:00:46.100 --> 00:00:49.900 documents and found more than 38 billion dollars in spending 00:00:49.900 --> 00:00:52.200 related to the 2022 Olympic Games. 00:00:52.200 --> 00:00:56.500 We also found human and environmental costs that don't show 00:00:56.500 --> 00:00:58.200 up on any price tag at all. 00:01:02.600 --> 00:01:05.800 This is just one of three brand-new Olympic Villages that were 00:01:05.800 --> 00:01:08.400 built in the last few years to house thousands of athletes. 00:01:08.400 --> 00:01:09.500 During the games. 00:01:09.500 --> 00:01:13.400 It cost about 3.2 billion dollars to build. 00:01:15.100 --> 00:01:18.300 Including the cost of Justice Village would nearly double 00:01:18.300 --> 00:01:19.500 the official budget. 00:01:21.400 --> 00:01:24.300 Of course, experts have long debated, how to calculate 00:01:24.300 --> 00:01:26.100 the true cost of a mega event, 00:01:26.100 --> 00:01:30.900 like the Olympics, the international Olympic Committee 00:01:30.900 --> 00:01:34.400 told Insider that the official budget doesn't include infrastructure 00:01:34.400 --> 00:01:36.100 like a new trains are highways. 00:01:36.100 --> 00:01:39.100 But when China hosted the summer games in 2008, 00:01:39.100 --> 00:01:43.000 the country's own tally was 42 billion dollars and included. 00:01:43.000 --> 00:01:45.400 Infrastructure like an airport terminal in Beijing. 00:01:47.500 --> 00:01:51.100 Later estimates put the total at over 50 billion dollars, 00:01:51.100 --> 00:01:52.800 but Russia out. 00:01:52.800 --> 00:01:55.000 Did China's spending on the 2014? 00:01:55.000 --> 00:01:56.200 Winter Olympics, in Sochi? 00:01:57.700 --> 00:02:01.600 Beijing's official tally of 3.9 billion dollars looks especially 00:02:01.600 --> 00:02:05.600 low. When you consider that no game since London have cost less than 00:02:05.600 --> 00:02:07.200 13 billion dollars. 00:02:09.100 --> 00:02:12.200 But that's because the official budget includes very little 00:02:12.200 --> 00:02:14.400 beyond the cost of running the 19 Day event. 00:02:14.400 --> 00:02:24.800 So let's missing Andrew. 00:02:24.800 --> 00:02:28.400 Zimbalist folks change the conversation on Olympic costs and 00:02:28.400 --> 00:02:29.800 influence potential host cities. 00:02:31.300 --> 00:02:36.600 A number of 3.9 billion restricted number that doesn't give 00:02:36.600 --> 00:02:40.600 you any real sense of what the total cost were or will be. 00:02:42.900 --> 00:02:45.500 There are 25 venues for the 2022. 00:02:45.500 --> 00:02:49.300 Winter Olympics. The main athletes Village is in Beijing. 00:02:49.300 --> 00:02:51.400 And that's where ice hockey speed skating. 00:02:51.400 --> 00:02:53.600 Big are events in curling will take place. 00:02:55.000 --> 00:02:59.500 Unveiled in January, the new National Speed skating oval is estimated 00:02:59.500 --> 00:03:04.400 to have cost 186.6 million dollars, but we can't find this in 00:03:04.400 --> 00:03:05.700 the accounting for the game's. 00:03:05.700 --> 00:03:10.000 There was a price tag that we couldn't find it all like the cost 00:03:10.000 --> 00:03:13.200 of a venue called Big Air Show Kong that was built on an old 00:03:13.200 --> 00:03:14.000 steel mill site. 00:03:15.100 --> 00:03:19.100 The Beijing suburb of venting is home to a second Olympic 00:03:19.100 --> 00:03:23.300 Village in brand new venues for bobsled skeleton luge in Alpine 00:03:23.300 --> 00:03:26.900 skiing. Another number that doesn't appear to be in the budget 00:03:26.900 --> 00:03:32.400 these yenching. Venues that total of 442.9 million dollars 00:03:32.400 --> 00:03:34.700 according to 1 2018 estimate. 00:03:35.800 --> 00:03:39.300 We also don't know how much most of the new venues cost and John 00:03:39.300 --> 00:03:41.900 Darko like this, National Ski Jumping Center. 00:03:43.200 --> 00:03:45.900 And the cost of the third new Olympic Village in John. 00:03:45.900 --> 00:03:48.200 Call, as well as four new venues for sports. 00:03:48.200 --> 00:03:50.800 Like, I a salon cross country, skiing freestyle, 00:03:50.800 --> 00:03:51.700 skiing and snowboarding. 00:03:51.700 --> 00:03:54.600 The total cost could be much much higher. 00:03:55.800 --> 00:04:00.000 In 2018 State media said refurbishing existing venues would 00:04:00.000 --> 00:04:02.400 be cheap, but they didn't say how cheap. 00:04:06.100 --> 00:04:09.300 Kind of a publicly said that the Olympic villages will be sold 00:04:09.300 --> 00:04:12.700 or used as hotels and apartments after the Olympics and that 00:04:12.700 --> 00:04:15.500 this kind of permanent infrastructure, will be counted as part 00:04:15.500 --> 00:04:18.000 of a long-term investment in winter sports, 00:04:18.000 --> 00:04:21.100 including in some places, where it rarely snows. 00:04:22.900 --> 00:04:26.400 We found major infrastructure costs related to the 2022, 00:04:26.400 --> 00:04:29.600 Olympics, like a brand new bullet train that links all three 00:04:29.600 --> 00:04:34.700 host cities. It's fully automated and tops out at over 200 mph 00:04:34.700 --> 00:04:38.600 and it cuts the travel time between Beijing and Joint are called 00:04:38.600 --> 00:04:40.900 from 3 hours to just under an hour. 00:04:42.400 --> 00:04:43.800 What's the total cost? 00:04:43.800 --> 00:04:48.800 9.2 billion dollars is one train that cost more than double 00:04:48.800 --> 00:04:50.800 the entire official Olympic budget. 00:04:50.800 --> 00:04:55.300 Oh, and one car has a live broadcast studio for State media. 00:04:55.300 --> 00:04:58.800 Something. May or may not be useful outside of a few weeks 00:04:58.800 --> 00:04:59.700 in February. 00:05:00.900 --> 00:05:04.500 State media. Sing war report of the train with custom made for 00:05:04.500 --> 00:05:05.300 the Beijing games. 00:05:06.300 --> 00:05:10.500 Beijing. Also spent 205.6 million dollars to spruce up one of 00:05:10.500 --> 00:05:11.600 the Region's airports. 00:05:12.900 --> 00:05:16.600 And 773.5 million dollars on a new subway. 00:05:16.600 --> 00:05:21.400 Line is also finishing up a 15 billion dollar Highway project 00:05:21.400 --> 00:05:25.900 to connect, venues in Genting and janja Call Kobe's cost and 00:05:25.900 --> 00:05:26.800 play in Dome. 00:05:26.800 --> 00:05:30.100 I can get one shooting, pains in the new rail line of the one 00:05:30.100 --> 00:05:33.200 that has authored numerous studies on Olympic cost that don't 00:05:33.200 --> 00:05:36.100 include major infrastructure because those expenditures 00:05:36.100 --> 00:05:37.400 are decided by the host City. 00:05:37.400 --> 00:05:40.800 I mean, they will be done anyway. 00:05:42.800 --> 00:05:46.400 President, Xi Jinping visited Olympic venues before the games 00:05:46.400 --> 00:05:55.500 yet. 00:06:00.500 --> 00:06:03.000 But a green Olympics, may not be so simple, 00:06:03.000 --> 00:06:06.800 but the main skiing venues are in a parched part of China, 00:06:06.800 --> 00:06:09.900 that gets just 25 in average annual snowfall, 00:06:09.900 --> 00:06:12.800 not nearly enough to cover the slopes. 00:06:14.000 --> 00:06:18.000 By comparison Park City, Utah gets 235 in. 00:06:19.400 --> 00:06:22.400 That's where Salt Lake City Olympic giant slalom was held. 00:06:23.400 --> 00:06:27.400 No, making for the Olympics would require 500 million gal of water. 00:06:27.400 --> 00:06:37.700 According to one estimate cost, are not going to be included, 00:06:37.700 --> 00:06:41.900 a comment, the ioc defended the snowmaking plan. 00:06:43.300 --> 00:06:45.600 Some costs have been even harder to tally. 00:06:46.800 --> 00:06:50.400 If he reported that farmers were forced from their land to make 00:06:50.400 --> 00:06:51.400 way for solar energy. 00:06:52.800 --> 00:06:56.100 This man says he saw a farmer's get beaten and detained 00:06:56.100 --> 00:06:58.900 when they refused to sign contracts as one of China's largest 00:06:58.900 --> 00:07:01.000 utilities to build solar panels. 00:07:02.100 --> 00:07:03.300 She will keep the league. 00:07:03.300 --> 00:07:03.900 Will he go City? 00:07:09.700 --> 00:07:13.700 In a statement, the ioc told Insider that more than 1,500 residents 00:07:13.700 --> 00:07:16.900 have been resettled or compensated for being displaced 00:07:16.900 --> 00:07:17.800 for the Olympics. 00:07:17.800 --> 00:07:21.500 Beijing did not respond to requests for comment on this topic. 00:07:24.400 --> 00:07:26.500 For all of the money spent on the games, 00:07:26.500 --> 00:07:29.300 Beijing won't even be able to recoup its costs through ticket 00:07:29.300 --> 00:07:31.300 sales because Spectators are allowed. 00:07:32.300 --> 00:07:35.400 Organizers also told us that the official budget will be released 00:07:35.400 --> 00:07:44.400 six months after the games of ended run. 00:07:44.400 --> 00:07:45.300 There's no Costco run. 00:07:46.700 --> 00:07:47.900 Without those answers. 00:07:47.900 --> 00:07:50.800 It's likely, we'll never get a full understanding of what the 00:07:50.800 --> 00:07:52.800 winter games cost in 2022.