Beijing Announces 'affordable' Olympics

Beijing promised an affordable Olympics in 2008 with the announcement today of ticket prices that are as low as a tenth of those charged at the last games in Athens.

The majority of spectators will pay no more than 100 yuan (£7) to watch the world’s best athletes under a ticketing policy that reflects the low average income of the planet’s most populous nation.

The first of 7m tickets will go on sale next year. At the bird’s nest stadium, executive seats for the opening ceremony will cost 5,000 yuan - about half the most expensive rate in Greece two years ago.

At less prestigious events, tickets will be available for as little as 30 yuan, a tenth of the lowest rate in Athens. Fourteen percent of the seats will be reserved for students.

For the millions of farmers still living on less than 50 pence a day, a visit to the capital to watch a live event will still be a significant expense. But for most city dwellers, the prices are well within their incomes. According to the National Statistics Bureau, the average monthly wage for an urban Beijing resident last year was 2,500 yuan.

In a statement, the International Olympic Committee said the Beijing organisers "has found an affordable ticketing program which will maximize the opportunity for the Chinese public to enjoy the games, whilst balancing with interest from the international community".

While other Olympic hosts have stressed the importance of making a profit, for China, the games in 2008 are about a lot more than making money. They are seen as a coming-of-age party for the world's fastest growing major economy.

In bidding for the games, Beijing forecast a modest operating profit of $19m on revenues of $1,625bn, mostly from sponsorship and the sale of broadcast rights. Outside of this budget, the government is spending tens of billions of dollars on a huge face lift for the city, including new stadiums, roads, railways and the world’s biggest airport terminal.

The ticket prices compare well with concerts for big rock stars, but they are still considerably above those for football matches. The cheapest tickets for Beijing Gua’an - the capital’s top team - are just 10 rmb (70p). Sports fans say they are willing to pay a little extra for high-quality entertainment.

"I’m pleased. The prices are reasonable," said Chen Xin, a 25-year-old Beijing resident. "I will definitely go to see at least one Olympic event. After all, I will probably never get another chance in my life."

He is most interested in going to watch an Olympic football match. "I would pay up to 180 yuan. But only for a game between world-class teams like Germany or Nigeria. I wouldn’t pay that much to see China."