Sports

The Tokyo Olympics cost twice what was expected in 2013

The Organizing Committee of the Tokyo 2020 Olympic and Paralympic Games announced that the cost of the event was $ 13.6 billion, almost double what was expected in 2013 when the Japanese capital was designated as the venue for the sporting event.

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The new figure includes the costs associated with the postponement of the 2020 Games, which were held this year, due to the coronavirus pandemic, as well as a reduction in expenses derived from simplification measures in various areas of the event.

Before the pandemic, at the end of 2019, the Games were slated to cost $ 13 billion, ABC News noted.

However, in 2013, when Tokyo won the right to host the Games, the cost of the Games was budgeted at $ 7 billion, just under half of the final amount. The fact that the event did not have an audience deprived the organizers of 800 million, since there were no ticket sales.

There were concerns that a lack of ticket revenue could lead the Games into a deficit, which could have increased costs for the Tokyo metropolitan government and the Japanese government.

Fountain: Telam

Aldous McEwan

Aldous is a tech enthusiast and a traveller, who has completed his B.A in year 2018.

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