All About Japan

Postponement of Olympics Costs ¥300 Billion

| 2020 Olympics , Tokyo

The postponement of the Tokyo Olympics and Paralympics is expected to cost around ¥300 billion (about US$ 2.9 billion) in additional expenses.

The 2020 Summer Games have been put off by a year due to the coronavirus pandemic. Games organizers have worked on scaling down various aspects of the event to save about ¥30 billion in expenditures. Sources said the efforts have enabled organizers to limit extra costs resulting from the delay to about ¥200 billion. They include compensation and cancellation fees involving venues and personnel expenses.

The sources said another ¥95 billion will be earmarked for measures against the coronavirus. The money will cover steps to be taken at the Olympic village, disinfecting competition venues, securing medical staff and infection prevention for staffers and volunteers. The funds do not include costs for coronavirus testing at airports and athletes’ participation in pre-competition training camps at host towns across Japan. The expenses will be in addition to the ¥1.35 trillion the Games were estimated to cost as of the end of 2019.

The Japanese government, games organizers, and the Tokyo Metropolitan Government will discuss how to share the burden of the additional costs.

Organizers are set to announce the latest anticipated total costs for the games by the end of this year.