TOKYO: The official cost of the postponed Tokyo Olympics has increased by 22 percent, the local organizing committee said Tuesday in unveiling its new budget.
In an on-line news conference, organizers said the Olympics will now cost $15.4 billion to stage. This is up from $12.6 billion in last year’s budget.
The added $2.8 billion is the cost of the one-year delay. Added expenses come from renegotiating contracts and measures to combat the COVID-19 pandemic.
The Olympics are to open on July 23, 2021. The Paralympics follow on Aug. 24.
Audits by the Japanese government over the last several years, however, show the costs are higher than officially stated and are at least $25 billion.
Official costs of Tokyo Olympics up by 22 per cent to US$15.4 billion
22 Dec, 2020 05:00 PM
5 minutes to read
The Olympic symbol is reinstalled after it was taken down for maintenance ahead of the postponed Tokyo 2020 Olympics in the Odaiba section, in Tokyo. Photo / AP
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The official cost of the postponed Tokyo Olympics has increased by 22 per cent, the local organising committee said in unveiling its new budget overnight.
In an online news conference, organisers said the Olympics will cost US$15.4 billion ($21.8b) to stage. This is up from US$12.6 billion (17.9b) in last year s budget.
The added US$2.8 billion is the cost of the one-year delay. Expenses come from renegotiating contracts and measures to combat the COVID-19 pandemic.
El coste oficial de los Juegos de Tokio ha aumentado un 22% mundodeportivo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mundodeportivo.com Daily Mail and Mail on Sunday newspapers.