ABSTRACT
This chapter explores on the Youth Olympic Games (YOG) bidding procedure and the financing of the YOG as an important element of event organization. A literature review, a theoretical framework of the YOG event phases and its impact on financing the YOG were introduced. The analysis of the International Olympic Committee (IOC) evaluation commission reports shows that great attention is given to three factors: governance, especially government financial support; the Youth Olympic Village (YOV); and the Culture and Educational Programme (CEP) concept. Since the International IOC launched a new product with the YOG and tried to make the event more straightforward from an organizational point of view than the Olympic Games, the decision criteria so far seem to be based on the (financial) support of the governments, the quality feasibility of the CEP and YOV, as well as having sufficient general pre-existing infrastructure. The dynamics of budgets, especially in the bidding stage were understood, tracked and evaluated.
