Arranging the world class sports events are not a matter of joke and every time one of the sports events turn up, the expenditure seems to rise higher than the previous one. Tokyo is going to host and organize the 2020 Olympic. It has been recently announced that the overall expenditure of the next Olympics would be around 1.6 and 1.8 trillion yen. Which means that the total expenditure would be something between $13-$15 billion.
Tokyo Olympics Cost Breakdown
The officials had declared the same on Wednesday. The cost includes the facilities like the buildings and the infrastructure, security, transportation and others. In a detailed information about the breakdown of the huge amount, from one of the leading websites of Japan, 410 billion yen would be used for the sake of soft costs. These include the transportation, safety, security and other such issues. A whooping 590 billion yen is sanctioned for the infrastructure and building facilities of the event. A backup budget of 100-300 billion yen is also kept in hand.
Vice President of the International Olympic Committee, John Coates has criticized the budget of the sports, as he feels that the budget is a bit too high. The vice President had joined with the officials of the nation, for the declaration of the budget.
Efforts Are On To Reduce The Expense
The Olympics Organizing committee is trying to reduce the expenditure in the game. It is trying to make the country use the existing and temporary facilities. This will help enable other cities to bid for the future editions of the game. The world of sports has seen similar problems in the past. Earlier, Sochi, Russia had spent as much as $51 billion in the 2014 Winter Games. Many other cities who were hoping to try their luck in the 2022 and 2024 Olympics, moved out of the bidding process.
The governor of Tokyo, Yuriko Koike is looking forward to reduce the cost of the program by certain amounts. She has thus agreed to conduct canoe sprint, swimming, rowing and volleyball in the capital city itself. These games were previously supposed to be played outside the capital.