TOKYO (Reuters) – The Tokyo 2020 Olympics, held in 2021 after being postponed for a yr because of the coronavirus pandemic, value 1.42 trillion yen ($10.4 billion), practically double the determine quoted in town’s bid for the Games, in response to a remaining price range report.
The Tokyo 2020 Organising Committee held its final assembly late Tuesday and is because of disband at the top of the month.
Tokyo received the Olympics in 2013, providing a “protected pair of arms” and with a considerable amount of cash already in the financial institution.
However, prices swelled main as much as the Games, together with for the rebuilding the New National Stadium, used for the opening and shutting ceremonies in addition to observe and subject occasions.
Costs additionally surged in reference to suspending the Games by a yr and for measures to stop the unfold of the coronavirus when the Games have been lastly held, with out spectators, in 2021.
“In the face of unprecedented difficulties, all of the events involved labored collectively tremendously for the success of the Games and for carrying it off safely and securely,” Seiko Hashimoto, the organising committee’s president, informed a information convention.
Sapporo, capital of the northernmost island of Hokkaido, is bidding to host the 2030 Winter Games.
($1 = 136.2700 yen)
(Reporting by Elaine Lies; modifying by Richard Pullin)
