The Tokyo Olympics' Staggering Price Tag and Where It Stands in History
How the Tokyo Olympics Became the Most Expensive Summer Games Ever
How the Tokyo Olympics Became the Most Expensive Summer Games Ever
The Tokyo Games are on track to be the most expensive summer Olympics ever, with the pandemic adding to mounting economic losses. WSJ unpacks the
The
Tokyo Olympics are set to be the most expensive Olympics on record. According to officials, the budget is $15.4 billion, but Japanese government auditors have said total spending tops $20 billion, almost
three times the original forecast of around $7.4 billion when Tokyo put together its bid for the Olympics. That puts the Games $11.04 billion over the total cost of London's Olympics, the next most expensive ever.
The Olympic Games are one of the most expensive mega events any country can organize, according to a
study on Olympics costs. The average sports-related cost of hosting the Olympics is $12 billion, with nonsports-related expenses typically several times that, the study found. In the case of the Tokyo Games, postponing the event added $2.8 billion to its final cost, according to the organizing committee.
Spending Spree
The single biggest cost of the Olympics has been the
construction of venues. Eight venues were built specifically for the Games at a cost of around $3 billion. That includes the 68,000-seat National Stadium, completed in 2019, and two 15,000-seat arenas for swimming and volleyball. An additional 25 venues were renovated.