What did the Tokyo 2020 Olympic Games cost? | An Eventful Life

What did the Tokyo 2020 Olympic Games cost?

 

 

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The Olympic and Paralympic Games Tokyo 2020 were staged in unique circumstances due to the first ever postponement of the Games caused by the spread of COVID-19, which resulted in the decision to restrict spectators from most competition venues and impacted the Games finances.

However, the organisers say that “Through joint efforts to improve efficiency and advance simplification with the International Olympic Committee (IOC) and International Paralympic Committee (IPC), even after the unexpected additional costs caused by the postponement and the COVID-19 countermeasures, the Tokyo 2020 Games were delivered with final expenditures of JPY 1,423.8 billion (USD 13.0 billion), JPY 76.2 billion (USD 0.7 billion) less than the version one budget announced in December 2016”

The Tokyo Organising Committee of the Olympic and Paralympic Games (OCOG) has now published a final report detailing the OCOG’s revenues and expenditures and the overall financial results of the Tokyo 2020 Games.

According to the Report delivered on 21st June 2022, the OCOG has;

  • achieved a balanced budget of JPY 640.4 billion (USD 5.8 billion*)
  • The primary sources of revenues were
    •  IOC contribution of JPY 86.8 billion (USD 0.8 billion), TOP sponsorship of JPY 56.9 billion (USD 0.5 billion), local sponsorship of JPY 376.1 billion (USD 3.4 billion) and an insurance payout of JPY 50.0 billion (USD 0.5 billion) for the postponement of the Games
  •  As for the expenditure, JPY 195.5 billion (USD 1.8 billion) went on venue-related costs -such as temporary infrastructure (overlay), and technology, and JPY 444.9 billion (USD 4.0 billion) for service expenditures such as competition and venue operations, transportation and security

 

 

The total Games expenditures, including those borne by the Government of Japan and the Tokyo Metropolitan Government, is JPY 1,423.8 billion (USD 13.0 billion), which has been reduced by JPY 220.2 billion (USD 2.0 billion) from the version five budget announced in December 2020 and JPY 29.2 billion (USD 0.3 billion) from the estimated Games budget announced in December 2021.

The breakdown of the total expenses is:

  • JPY 864.9 billion (USD 7.9 billion) for venue-related expenditures, such as permanent venues, temporary infrastructure (overlay), and technology
  •  JPY 523.6 billion (USD 4.8 billion) for service expenditures, such as competition and venue operations, transportation and securit
  •  JPY 35.3 billion (USD 0.3 billion) for COVID-19 countermeasures
  • The total expenses specifically related to the Paralympic Games are JPY 151.4 billion (USD 1.4 billion)

* Exchange rate based on 109.89 USD/JPY which rate is published on the Bank of Japan’s website “Trading rate in the Tokyo Foreign Exchange Market” as the “Central rate” of the average exchange rate for 2021.