AFP: The final price tag for last year’s Tokyo Olympics was more than double the city’s original 2013 estimate after a one-year coronavirus postponement added to the already hefty bill.
The organizing committee said Tuesday the Games had cost 1.42 trillion yen, the equivalent of $13 billion at the time. At today’s rates, with the yen at a 24-year low against the dollar, the figure would be $10.4 billion.
Tokyo 2020 was held a year later than planned because of the pandemic — the first Olympics postponed in peacetime — and spectators were banned from nearly all events, which were held under strict Covid-19 countermeasures.
The Games cost twice the 734 billion yen that the Tokyo Games organizers had predicted in their bid to the International Olympic Committee in 2013, but less than the final pre-Games budget unveiled in December 2020.
Despite losing out on ticket sales, organizers saved some cash by simplifying events and avoiding the cost of hosting millions of fans. The organizing committee, which disbands at the end of June, said the event’s final cost was 200 billion yen less than projected in its pre-Games budget in 2020 and 29 billion yen less than the final slimmed-down costs prediction in December 2021.