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Final price tag of Tokyo Games estimated at 1.5bn yen

The Games was initially presented as costing only 734 billion yen during Tokyo's bid to host the events in 2013, but the figure approximately doubled during the preparation stage. (AFP)
The Games was initially presented as costing only 734 billion yen during Tokyo's bid to host the events in 2013, but the figure approximately doubled during the preparation stage. (AFP)
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22 Dec 2021 08:12:04 GMT9
22 Dec 2021 08:12:04 GMT9

TOKYO: The total cost of the Tokyo Olympic and Paralympic Games held this summer is estimated at 1,453 billion yen, the Games’ organizing committee said Wednesday.

The estimate is about 191 billion yen lower than the committee’s December 2020 projection as the events were simplified and spectators were banned in principle due to the COVID-19 pandemic.

But it is 103 billion yen higher than the estimate released before the decision to postpone the Games by one year was made.

The organizing committee is expected to release its final numbers around June next year.

The committee will shoulder 634.3 billion yen of the cost, while the Tokyo metropolitan government will cover 624.8 billion yen and the Japanese government 193.9 billion yen.

Revenue from ticket sales, which was initially expected to be around 90 billion yen, only reached 400 million yen.

Expenses related to venues were reduced by 64 billion yen from the December 2020 estimate thanks to the cancellation of some temporary construction works and the shortening of venue-usage periods.

Transport and security costs were cut by 27.5 billion yen and 17.2 billion yen, respectively, following the ban on spectators at almost all venues.

COVID-19 response expenses were halved to around 48 billion yen thanks to the spectator ban.

The organizing committee was able to balance its finances after the metropolitan government agreed to pay 62.8 billion yen as its contribution for some temporary construction works.

The metropolitan government’s expenditures fell by 77.2 billion yen, while those of the Japanese government dropped by 27.1 billion yen.

The Games was initially presented as costing only 734 billion yen during Tokyo’s bid to host the events in 2013, but the figure approximately doubled during the preparation stage.

Some say that combined with other related expenses reported by the Board of Audit of Japan, the total price tag of the Tokyo Games will reach around 2 trillion yen to 3 trillion yen.

JIJI Press

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