2021 Tokyo Olympics to cost around $15.4 billion
The total cost of holding the Summer Olympics and Paralympics in Tokyo in 2021 will be as high as 1.6 trillion yen ($15.4 billion), according to TASS.
According to Nikkei, the Tokyo 2020 organizational committee will bear the biggest part of the costs ($6.9 billion). The rest will be covered by the Tokyo authorities ($6.7 billion) and the Japanese government ($2.1 billion). At the same time, around $2.8 billion had to be spent in light of the postponement to 2021. Moreover, around $929 million is allocated to prevent the spread of coronavirus at the games.
The Tokyo Olympics were initially supposed to be held between July 24 and August 9, 2020. However, the coronavirus pandemic shattered these plans and the biggest sporting event had to be postponed by one year to now be scheduled between July 23 and August 8, 2021. At the same time, the games are still officially referred to as Tokyo 2020.
In June, the Tokyo Olympics organizational committee spoke in favor of simplifying the process of holding competitions next year.