The postponement of the Tokyo Olympics is expected to bring up to 200 billion yen (12.6 billion yuan) in additional expenses, a report said on the 29th.
This amount is in line with estimates made over the past few months. The Tokyo Olympic Committee, the Japanese government and the Tokyo local government are expected to formally decide on the increase in the budget as early as mid December, Japanese media quoted anonymous Olympic sources as saying.
Although the organizers have cut some expenses by streamlining the games, the new budget is still about 15% more than the 1.35 trillion yen before the outbreak of the new crown epidemic. This figure does not include the costs associated with epidemic prevention measures.
Affected by the new crown epidemic, the Tokyo Olympic Games scheduled for 2020 will be postponed to July 23 to August 8, 2021. It is reported that although the postponement of the Tokyo Olympic Games will bring various challenges and additional expenses to the Preparatory Committee, it is still far less than the huge economic losses caused by the cancellation of the Olympic Games to the organizers, sponsors, broadcasters and other parties.
