(ZENIT News / Lisbon, 06.13.2024).- World Youth Day (WYD) 2023 in Portugal has set a remarkable financial precedent, closing with an unprecedented surplus of approximately €35 million. This achievement, announced by Cardinal Américo Aguiar, the chief organizer of the event, marks the highest surplus in WYD history.
The 2023 event drew over 400,000 pilgrims, far exceeding expectations and significantly contributing to the strong financial outcome. This stands in stark contrast to previous WYD editions, which often faced financial transparency issues and deficits.
Cardinal Aguiar emphasized the commitment to transparency from the project’s inception. «I’m not here to judge others,» Aguiar stated. «But from the beginning, we pledged to be as transparent as possible with Rome and the future WYD, and here are the results. Everything that went right (and everything that went wrong) is documented and available for future learning. We hope this sets a legacy for future events.»
A central theme of WYD 2023 was financial transparency. The detailed financial information provided by the organizers has been widely praised, especially against the backdrop of ongoing financial challenges within the Church.
Economic Impact on Lisbon
A study by the Lisbon School of Economics and Management revealed that WYD 2023 generated at least €350 million in gross added value for the Lisbon region, primarily in 2023. Additionally, the event created approximately 10,000 short-term jobs and resulted in a lasting investment of €48 million, transforming key areas such as the final vigil and mass site into a permanent park.
The surplus from WYD 2023 will be allocated to projects for children and youth in the cities impacted by the event. Father Alexandre Palma, the new president of the WYD 2023 Foundation, will oversee the distribution of these funds, reaffirming a commitment to transparency and ethical investments, with a focus on education and the arts. «However, one thing must be crystal clear. This money belongs to the youth. That is our guiding principle,» Palma emphasized.
Future Plans and Challenges
The organizers acknowledged several challenges, including managing refunds for pilgrims who were unable to attend due to visa issues. Aguiar highlighted the need to improve administrative systems for handling such tasks in future events.
Father Pietro Yang Ju Yul from the Archdiocese of Seoul, who will oversee WYD 2027, noted the high standards set in Lisbon. Yang Ju Yul plans to adopt similar organizational and transparency strategies, despite the different socio-religious context in South Korea, where Catholics are a minority.
The next World Youth Day is scheduled for 2027 in Seoul, South Korea, and is expected to continue the legacy of transparency and financial success established by the 2023 edition in Portugal.
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