Pandemic-delayed Tokyo 2020 cost whopping

Article posted by Coliseum, January 4^th, 2023

Image: Tokyo Paralympic Committee

The cost of the delayed 2020 Tokyo Olympics is 20 percent higher than what organizers said when they announced official figures more than a year ago, according to a report by the Board of Audit of Japan.

‘abcNEWS’ stated that the report, which was released recently, said there was a lack of full disclosure and transparency on the part of the Government and the organizing committee.

The 2020 Summer Olympics, officially the Games of the XXXII Olympiad and also known as Tokyo 2020, was an international multisport event held from July 23^rd to August 8^th, 2021 in Tokyo, Japan, with some preliminary events that began on July 21^st.

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The Board of Audit reviews Government expenditures and submits an annual report to the Diet (national legislature of Japan). Article 90 of the Constitution of Japan and the Board of Audit Act of 1947 give this body substantial independence from both Cabinet and Diet control.

‘abcNEWS’ further stated that the audit put the cost at 1.7 trillion yen ($12.9 billion). Organizers last year put that figure at 1.42 trillion yen ($13 billion at the time).

The audit report said, “The Government, if its significant involvement is expected, should make a timely disclosure of the total spending or estimation. It should set up a system that allows full disclosure to contribute to the people’s understanding about the hosting and execution of the event.”

In 2021, organizers used a rate of 109 yen to the dollar to list the official cost, putting 1.42 trillion yen at $13 billion. At that rate, the new price is $15.5 billion.

Organizers do not disclose the exchange rate they use for payments denominated in dollars.

The audit report comes at a time when Sapporo City (City in Hokkaido, Japan) officials and the Japanese Olympic Committee recently stated that they are “pausing” their bid for the 2030 Winter Games.

Sapporo Mayor Katsuhiro Akimoto said the bid is being paused – not scrapped – because of the damage done by the Tokyo Olympic bid-rigging scandal.

The 2030 Winter Olympics, officially known as the XXVI Olympic Winter Games, is an upcoming international multisport event.

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