The final price for last year’s Tokyo Olympics was more than double the city’s original estimate for 2013 after a year-long postponement due to the coronavirus added to the already hefty bill.
The organizing committee said Tuesday the games cost 1.42 trillion yen, which was equivalent to $13 billion at the time. At today’s rates, with the yen at a 24-year low against the dollar, it would be $10.4 billion.
Tokyo 2020 took place a year later than planned because of the pandemic – the first Olympics were postponed in peacetime – and spectators were barred from almost all events held amid strict Covid-19 countermeasures.
The Games will cost double the 734 billion yen that Tokyo Games organizers predicted in their bid to the International Olympic Committee in 2013, but less than the final pre-Games budget announced in December 2020.
Despite lost ticket sales, organizers saved some money by simplifying events and avoiding the expense of hosting millions of fans.
The organizing committee, which is disbanding at the end of June, said the final cost of the event was 200 billion yen less than its pre-games budget forecast in 2020 and 29 billion yen less than the final trimmed cost forecast in December 2021.
“It’s up to everyone involved in this event to pass on the legacy of the Tokyo Olympics to the next generation,” said Tokyo 2020 President Seiko Hashimoto.
Tokyo experienced a Covid-19 surge last year as the Olympics approached, stoking fears the event could worsen outbreaks in Japan and potentially the world.
The northern Japanese city of Sapporo is bidding to host the 2030 Winter Olympics.
A poll in Sapporo and the surrounding region in March found that the majority of the public supports the event.
Officials have ruled out holding a public referendum on the 2030 bid.
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