The postponed Tokyo Olympic Games are set to cost $2.7 billion more than initially projected, the organizing committee said Friday, taking the total cost of next year’s event to $15.3 billion.
The extra spend includes:
- Cost of postponing of the games by one year: $1.5 billion
- Cost of Covid-19 prevention measures: $0.9 billion
- Added contingency sum: $0.3 billion
The entire cost of the games will be borne by the Tokyo Organizing Committee of the Olympic and Paralympic Games, the Tokyo Metropolitan Government and the Government of Japan.
“Tokyo 2020, the Tokyo Metropolitan Government, the Government of Japan and other related parties will continue to work together in order to ensure that athletes from around the world can compete in the Games under perfect conditions and spectators can participate in a safe and secure environment, as proof that mankind has overcome the virus,” said Friday’s statement.
The cost of the Tokyo Olympics was initially projected at $12.6 billion, before the pandemic forced its postponement.
Sums are based on the exchange rate used by the Tokyo Organising Committee (USD 1 = JPY 107).