{"id":12521,"date":"2021-08-03T05:00:51","date_gmt":"2021-08-03T05:00:51","guid":{"rendered":"https:\/\/www.safebettingsites.com\/?p=12521"},"modified":"2022-03-31T09:54:11","modified_gmt":"2022-03-31T09:54:11","slug":"final-cost-of-hosting-tokyo-olympics-4x-higher-than-planned-estimated-loss-counted-in-tens-of-billions-of-dollars","status":"publish","type":"post","link":"https:\/\/www.safebettingsites.com\/2021\/08\/3\/final-cost-of-hosting-tokyo-olympics-4x-higher-than-planned-estimated-loss-counted-in-tens-of-billions-of-dollars\/","title":{"rendered":"Final Cost of Hosting Tokyo Olympics 4x Higher than Planned, Estimated Loss Counted in Tens of Billions of Dollars"},"content":{"rendered":"

After a spike in COVID-19 infections, the Japanese authorities and the Olympics Organizing Committee decided Tokyo Olympic Games will be held without spectators at venues in and around the capital. It was a new hit for the project that was already severely over budget.<\/p>\n

According to data presented by Safe Betting Sites<\/a>, the total cost of hosting the Tokyo Olympics is expected to hit around $28bn, which is four times higher than planned. At the same time, the estimated loss due to one-year postponement and spectators ban is counted in tens of billions of dollars.<\/p>\n

Estimated Loss of Tokyo Olympics to Reach Over $20B<\/strong><\/h3>\n

When the Japanese capital was awarded the Olympics<\/a> in 2013, the bid committee projected a final bill of $7.3bn. This was revised to $12.6bn in December 2019 before the COVID-19 postponement.<\/p>\n

A year later, when the Tokyo Organizing Committee announced the fifth version of the budget, the total expenses rose to around $14.9bn. Approximately 55% of that value, or $8.2bn, was planned for the venue-related budget of the 2020 Summer Olympics. Tournament operation cost rose to $6.6bn, while another $870 million was planned for COVID-19 countermeasures.<\/p>\n