Postponed Tokyo Olympics To Cost Extra $2.4 Billion: Organisers
The postponed Tokyo Olympics will cost an extra $2.4 billion. An additional $1.5 billion will be needed for operational costs related to the delay.
- Coronavirus-delayed Tokyo Olympics could cost an extra $2.4 billion
- The 2020 Tokyo Olympic Games were postponed due to COVID-19 pandemic
- The Games are scheduled to be held in 2021
The coronavirus-delayed Tokyo Olympics will cost at least an extra $2.4 billion, organisers said Friday, with the unprecedented postponement and a raft of pandemic health measures ballooning an already outsized budget. Tokyo 2020 said an additional $1.5 billion would be needed for operational costs related to the delay, with another $900 million in spending on coronavirus countermeasures for the Games next year. The dollar figure is calculated at an exchange rate of 107 yen, and is closer to $2.56 billion when calculated at today's rate.
The costs could rise further, with Tokyo 2020 saying it will release an additional $250 million in "contingency" funds to help cover the expenses.
The extra costs come as organisers and Olympic officials work to build enthusiasm and momentum for the first Games postponed in peacetime, insisting that the massive international event can go ahead next year even if the pandemic is not under control.
The additional costs will be split between the national government, the city of Tokyo and the organisers.