World Economy

G7 Summit to Cost Nearly $150m

G7 Summit to Cost Nearly $150mG7 Summit to Cost Nearly $150m

Group of Seven leaders gather from Sunday in a luxurious German venue handpicked by Chancellor Angela Merkel, an expensive hotel with a fairytale setting and a tumultuous past. The total cost of the two-day gathering is estimated to reach $147 million (€130m), with around 25,000 police officers deployed to keep the peace.

Elmau Castle, nestled in the Bavarian Alps, is a five-star resort that will be transformed into a fortress for the two-day meeting of the club of rich nations, AFP reported.

The sumptuous accommodation comes complete with 123 rooms and suites, swimming pools and spas.

G7 presidents typically choose picture-postcard spots when planning their annual summit, ideally in a remote location that is easier for police to secure than an urban center.

To maintain security, high-level guests will be whisked by helicopter to the castle, while a ring of steel will keep the expected tens of thousands of anti-G7 protesters at bay in the ski resort town of Garmisch-Partenkirchen, 15 km down the road.

Major highways are shut down and temporary border posts have been set up on at least one mountain trail in Bavaria's largest-ever police operation.