The Tokyo 2020 Olympics are expected to cost some $12.6 billion, organisers said on Friday, unveiling a final budget showing increased revenue balancing out extra costs including countermeasures against heat, SIA reports referring to AFP.
However, officials admitted the budget does not yet include an estimated $27.4 million for moving the marathon and race walk north to Sapporo, as they wrangle with the International Olympic Committee (IOC) over who bears the cost. Revenues from domestic sponsorship and robust ticket sales have increased income by $27.4 million, according to the fourth and final version of the Olympic budget.
The overall $12.6 billion budget for the Games is unchanged since the last version of the budget unveiled last year. There is also a $247 million "contingency" pot to deal with possible emergencies such as natural disasters.
Organisers are still negotiating with the IOC over the cost of moving the marathon to the northern city of Sapporo due to the expected heat in the Tokyo summer. Organisers have also unveiled a series of countermeasures against the heat and humidity, including water mist sprays and special heat-absorbing paint on roads -- all of which cost money.
The IOC, wary that the ballooning cost of hosting the Games is putting some cities off from bidding, has urged Tokyo to make even more cuts. Earlier this year, Los Angeles 2028 Olympics chiefs unveiled details of a $6.9-billion budget for the Games, vowing to deliver the spectacle without cost overruns that have dogged recent editions of the extravaganza. The Paris 2024 budget for the Games amounts to $7.6 billion, 1.5 billion of which will come from the state.
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