TheOrganizing Committee of XXII Olympic Winter Games and XI Paralympic Winter Games 2014 in Sochi announced that liquidation commission started to work and notification about the organization’s dissolution was dulypublished in "The State Registration Bulletin". A total of 25,000 people from all around the world volunteered for the Games. At the start of the Games, the Organizing Committeehad 53,000 permanent and temporary members of staff. After the Games, the Organizing Committee announced that its operating profit totaled 9 billion rubles.
The Sochi Olympic and Paralympic Winter Games were very well received both in Russia and abroad. According to the survey conducted in April 2014[1],the Olympics significantly exceeded expectations of the vast majority of Russians (94%).
According to the research conducted by the International Olympic Committee, which involved 36,000 respondents from 16 countries, the athletes and spectators highly praised the organization of the events, qualityof the venues and the Games’ excellent atmosphere. During the Games fans from 126 countries and more than 2,859 athletes became guests of Sochi. The Sochi Games were broadcast by 464 TV channels around the world— almost twice as much as previous Vancouver Winter Games. The Sochi 2014 Organizing Committee received high marks from the IOC, IPC and international sports federations.
The Games proved to be a commercial success –the total amount of income from the Sochi 2014 Marketing Program exceeded $ 1.3 billion. Innovative ticketing strategy completely proved itselfwith the total of 1.1 million tickets being sold.
The Sochi 2014 Organizing Committee was established on 2 October 2007, soon after the successful bidding process for the 2014 Olympic and Paralympic Winter Games. It was responsiblefor planning, organizing and staging of the Sochi Games. Its founders included The Russian Olympic Committee, Ministry of Sport, Tourism and Youth Policy of the Russian Federation andthe Administration of the City of Sochi.
All the earnings, including cash and transferableproperty, were re-invested in the development of sport in the Russian Federationand socially significant projects. The majority of property was distributed to the Olympic and Paralympic Committees of Russia, organizations reporting to the Russian Ministry of Sports, the Ministry of PhysicalCulture and Sports of Krasnodar Region, as well as the Administration of Sochi.
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