A postponement and a pandemic that are very expensive. Japanese organizers of the Tokyo 2020 Olympics announced on Friday, December 4 that the event – postponed for a year, to the summer of 2021, due to Covid-19 – would cost at least 267 billion yen (2.1 billion euros) more than previously estimated.
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According to the organizing committee, this amount is explained by operational costs related to the postponement (171 billion yen) and by the financial impact of the measures against the coronavirus that will be put in place for the Games in 2021 (96 billion yen) .
Costs could swell even more, as Tokyo 2020 said it was preparing an additional reserve budget of 27 billion yen (around 213 million euros) to help cover those expenses.
The Japanese unfavorable to the Games
The announcement comes as the organization tries to generate enthusiasm around the Games since their postponement in March, ensuring that the event can take place in the summer of 2021 even if the pandemic is not under control.
However, the increased cost of the Games could still cool Japanese public opinion which, according to several polls, is mostly in favor of a further postponement, or even outright cancellation. The additional costs will be divided between the Japanese government, the Tokyo Municipality and the Japanese organizing committee.