Expenditures remained under control despite the “unique circumstances” of the Games, said the IOC after the announcement of the Tokyo 2020 Organizing Committee

As expected, the International Olympic Committee (IOC) showed its satisfaction this Wednesday with the announcement by the Japanese organizers about the estimated final cost of the Tokyo 2020 Olympic and Paralympic Games.

In response to Around The Rings, an IOC spokesperson said the Olympic body “welcomes the information that the latest estimated figures for the final balance of the Tokyo Games will be below the estimated budget in version five in December 2020.”

“The work carried out between the IOC, the International Paralympic Committee, Tokyo 2020 and Japanese local stakeholders to simplify the Games, following the historic postponement of the Tokyo 2020 Olympic and Paralympic Games, resulting in savings of USD 280 million have clearly played an important role in ensuring that spending remains under control despite the unique circumstances of these Games, “states the statement sent to ATR.

“These savings were in addition to savings of USD 4.3 billion in the headquarters master plan and thanks to the 2020 Olympic Agenda and its New Norm,” the IOC states in its response.

For the IOC “this is further proof of how well the Tokyo 2020 Games were prepared, and of the unity of the Olympic Movement with the Japanese people to ensure that these Games were a success.”

“Tokyo 2020 was the catalyst for improvements in sports infrastructure and facilities that will leave a lasting legacy for local communities,” the IOC noted.

The IOC spokesperson recalled these Olympic Games “were also a success for the athletes, the world audience and the Olympic values,” as they were classified as the most watched in history with their empowerment on digital platforms.

More than 28 billion video views were recorded on the Olympic streaming partners’ digital platforms. “They have really also become the first streaming Games,” said the IOC official.

Overall, Tokyo 2020 reached a total global broadcast audience of more than 3 billion people through linear television and digital platforms.

Organizers said Wednesday that the cost of hosting the Tokyo Olympics and Paralympics last summer totaled USD 12.7 billion, meaning there will be no additional burden on taxpayers. The Games cost USD 1.8 billion less than expected, they said.

The officials indicated that final expense figures would not be available until after spring 2022. The cost savings, presented at a meeting of the organizing committee’s executive board in Tokyo, were achieved primarily because most of the events were held without spectators due to the COVID-19 pandemic. But at the same time the biggest impact to the budget was the loss of USD 800 million in ticket sales.