What are the Tokyo Olympics Costs and Expenditure?

Olympics in Tokyo 2020 is the most costly summer match ever held.

What makes TOKYO Olympics so expensive?

Tokyo won the bid for Olympics in the year 2013. The estimated cost for Olympics games was around $7.3 billion which is currently $26 billion, after 8 years.

Where the problem lies?

The biggest problem was venues. The national stadium is meant to be the site where opening and closing ceremonies are held. Along with field events and soccer. Hence, costs them almost $1.4 billion.

Tokyo olympics 2020 stadium

The gymnastics center was estimated to cost $80 million. But it costs more than $200 million when completed in 2019.

The cost of vast construction was high because most construction material is imported from many countries that add more cost. With many new plazas and badminton plaza costs almost around $330 million. Along with an aquatic center for swimming and diving of $540 million, volleyball arena of $320 million these are just a few of them. Almost every project for Tokyo Olympics was out of budget as the potential data exist have run over budget.

What made the costs of Tokyo Olympics 2020 to rise?

Cost overrunning in the Olympics is not a new subject. For the 2008 Beijing Olympics, the periodical tradition sports-related expenses were $6.8 billion. However, Chinese overall expenses were about $42 billion owing to external expenses. According to WSJ, these expenditures ranged from a $3 billion airport terminal to $30 million spent on trees and flowers. Many factors made Japan’s expenditure worse such as rising costs, fewer laborers for construction. That leads them to construct 21 buildings in the Olympics village around 2 billion.

The delay of the Olympics for almost one year increased the operational costs by more than $1.6 billion. Thus, Tokyo covered maintenance for all the venues with security as well for a year.

As per the Tokyo organizing committee, its budget is around $15.4 billion. But according to experts and Japan’s auditor general, the cost exceeds $26 billion. The economic effect in Tokyo Prefecture alone was predicted to be approx 20 billion Japanese yen and approx. 32 trillion Japanese Yen nationally.

Also read: Tokyo Olympics 2020: Names list of the Indian athletes representing India


Ugersain Aasdev

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