Olympics | Organizers say Tokyo Games cost $1.8B less than expected
The Tokyo Olympics cost $1.8 billion less than anticipated, local organizers said yesterday, 4 1/2 months after the Games ended.
Organizers said the estimated official costs were $13.6 billion. Officials said part of the reduction was because there were no fans — forced by the pandemic — and therefore vastly reduced labor costs. They also said other outlays were lower than expected.
Official estimates over the last year said the costs would be $15.4 billion. However, government audits over several years suggested the real costs were much higher — perhaps twice the official estimates.
Olympics costs are notoriously difficult to track, and there is always debate about what are and what are not Olympic costs. A study by the University of Oxford concluded that Tokyo was the most expensive Olympics on record.
Organizers indicated final expense figures would not be available until after spring 2022 with venues still being being restored and contracts still subject to revision.
The biggest blow to the budget was the loss of $800 million in ticket sales, a shortfall that has to be made up by Japanese government entities. MDT/AP
