The postponed Tokyo Olympics will cost at least 1.64 trillion yen ($15.9 billion), organisers said, while unveiling a final budget caused by the delay in staging the global sporting events initially billed to take place in June this year due to the outbreak of the corona virus pandemic..
The extra costs – up 294 billion yen ($2.8 billion) from figures released a year ago – come as officials work to build enthusiasm for the first Games postponed in peacetime. A poll last week showed that a majority of Japanese oppose holding the Tokyo Games next year, favouring a further delay or outright cancellation of the massive event, and the latest budget could makethe Tokyo Games the most expensive Summer Olympics in history.
Organisers, who have ruled out another delay and insist the Games can be held next year, defended the increased costs. “Whether you see this budget as expensive or not depends on how you look at it,” said Tokyo 2020 CEO Toshiro Muto.“You can look at it from a cost perspective or an investment perspective. If you look at it purely in terms of cost, it doesn’t make sense. But if you look at it as a positive investment, I think there are areas where it can be identified as such.”
Organisers have tried to scale back elements of the Games in a bid to save money, scrapping athlete
welcome ceremonies and scrimping on the all-important “look” of the event.