How much does it cost Latvia to participate in the Tokyo Olympics?
- The budget of the Latvian Olympic Committee (LOC) is formed from three different sources: from the state budget section “High performance sports”, from the funding of the International Olympic Committee according to their programs and our projects, from the support of LOC partners, according to the developed marketing programs. Initially planned and approved in the LOC 2021 budget are the following items:
Logistics costs are a difficult position to predict, especially in Covid-19 conditions. Tickets for all athletes have been purchased. Adjustments may be brought about by the Tokyo Olympic Games' rule that the village must be left within two days after the last start. As a result, return tickets will have to be changed, which could be unpredictable. We anticipate that we won't exceed the planned amount of funding. About 95% are from the state budget.
The planned equipment costs were 184 thousand euros. As a result of well-thought-out and well-managed communication between the LOC board and responsible employees and the OTCF, a gift was received from 4F, which provided an opportunity to equip both the LOC delegation and the Latvian Paralympic Committee delegation. The freed-up funds made it possible to cover items such as the Covid-19 tests for the delegation, as well as to compensate the federations for the purchase of start equipment and supplies for the Tokyo Olympics. The remaining amount will be used to cover the cost of legal services, costume printing and trip expenses for the delegation. The planned amount from the state budget is 153,190 euros. The remaining amount will be used for the purchase of "Beijing 2022" equipment.
Medical expenses are 4,000 euros. This money is used to finance the purchase of medicines for the horse Velour of 3,985 euros. The amount of medicines needed for the delegation was purchased already in December 2019. Expenses are 100% covered from the state budget.
Organizational expenses include expenses for equipping the Olympic Village for the needs of the Latvian delegation and presentation expenses, including team insurance, also for sports injuries. At present, 4,095 euros have been spent.
49,880 euros are provided for compensation of daily money and communication services. Athletes are paid for communication services in the amount of 15 euros. This LOC decision is based on the Anti-Doping and WADA rules, which require the athlete to be reachable at all times of the day.
Each member of the delegation is also paid a daily allowance, which is 30% of the amount mentioned in the regulations of the Cabinet of Ministers. In Tokyo, it is 21 euros a day.
This position is and will be paid to the athlete and coaches immediately after the return date from Tokyo is fixed. It is 100% covered from the state budget.
In its turn, the information provision is 100% financed by LOC cooperation partners, as well as by IOC support.
Currently, the most expensive member of the team has been the horse Velour, because his transportation to Tokyo cost 9,066.70 euros (flight), stay in the Olympic village - 616.19 euros, medicine 3,985 euros.