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Shanghai World Expo raked in huge profits

THE 2010 Shanghai World Expo made a total profit of 1.05 billion yuan (US$164 million), boosted by ticket sales and sponsorships, according to a report released by the Shanghai municipal audit bureau today. The auditor said that no severe cases of misappropriated funds were found when the report was compiled. The report showed that the 184-day event pulled in operating revenues of 13 billion yuan, exceeding its original investment of 11.96 billion yuan. The expo received 73 million visitors, including 3.5 million from overseas. Ticket sales adding up to 7.3 billion yuan accounted for 56.52 percent of its operating revenues. Revenues from the sponsorship came out to 3.97 billion yuan. In addition, the construction of the Expo Park cost a total of 19.7 billion yuan, 1.7 billion yuan more than was previously budgeted, the report said.

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