Olympics will not be a financial burden for Beijing: Study

8220;Granted the cost of hosting the games is huge, and its importance to China in terms of boosting its international standing is obvious; but it appears the Chinese authorities recognise that the Olympics is not an end in itself,8221; S038;P8217;s credit analyst Kim Eng Tan said in the report.

Pointing out that many of the projects would have gone ahead whether Beijing had won the Olympics bid or not, S038;P said 8220;the authorities8217; careful planning of this massive sporting event suggests the benefits of hosting the games will continue long after the closing ceremony.8221;

The games are scheduled to begin in August. Titled 8216;Beijing Olympics 2008 8212; Too Fast, Too Large, Too Costly? Maybe Not8217;, the report said Beijing Olympics could be compared with the experience of Barcelona, where the 1992 games helped the city to boost its appeal for 8220;visitors and business alike.8221;

With the advantage of a rich and long history, the boost to tourism for Beijing could be even greater, it added. 8220;Rather than a financial burden, hosting the Olympics could give a long-term boost to the city government8217;s creditworthiness,8221; Tan added. S038;P is a division of The McGraw-Hill Companies.