Tokyo Olympics set to reveal final costs in June

TOKYO (AP) — The final cost of the Tokyo Olympics is expected to be about $13.6 billion when the organizing committee disbands in June and reports, the organizing committee’s CEO said Thursday, Toshiro Muto.

Muto hinted to reporters after a board meeting that the final cost might be “a bit lower”, but gave no specific reason why he thinks so.

“We look at every detail,” Muto said. “It’s not something that I can say is the main reason why we expect a lower figure. It can’t just be said that way.

In December, organizers said the total cost to Tokyo – delayed a year by the pandemic – was $1.8 billion lower than the $15.4 billion estimate it had used the last year. He said this was due to reduced labor costs, with no fans allowed to attend.

Olympic costs are notoriously difficult to track, and there is debate over what are and what are not Olympic-specific expenses. Several government audit reports in the run-up to the Tokyo Games have suggested the cost could be twice as high as stated.

A study by the University of Oxford concluded that the Tokyo Games were the most expensive Olympic Games on record. The study attempted to measure the “equivalent” at various Olympics and factored in the massive non-Olympic costs that drove up the prices of the 2014 Winter Olympics in Sochi ($51 billion) and 2008 Summer Olympics in Beijing ($40 billion).

Regardless of the final official cost to Tokyo, $5.9 billion came from private funds and the rest of the funding came from various levels of Japanese governments.

Muto said expertise gained in Tokyo would be loaned to officials in Sapporo, who are bidding for the 2030 Winter Olympics.

Sapporo is considered one of the best candidates along with Salt Lake City and Vancouver. An offer is also possible from Spain. The International Olympic Committee has not said when it will announce the host city.

Muto said the expertise gained in Tokyo would also be loaned to Osaka, which will host the 2025 World Expo, and the Japanese city of Nagoya, which will host the 2026 Asian Games.