Final Tokyo 2020 Games’ cost revealed by organizers is down slightly from previous estimate

The final cost of the Tokyo 2020 Games has been released by the organizers of the Games, and it’s good news for local taxpayers.

Tokyo 2020′s final budget was released around this time last year as costs increased due to the pandemic-forced delay. That budget stood at 1.64 trillion yen ($14.3 billion).

But on Wednesday, the organizers reduced that figure slightly to 1.45 trillion yen ($12.7 billion) and they said no extra bills will be sent to the national or Tokyo city governments.

Organizers said they were able to trim costs by simplifying events and also didn’t have to worry about hosting millions of fans either, although they said the lack of fans probably cost them about 90 billion yen in potential ticket sales.

When Tokyo presented their Olympic bid to the International Olympic Committee in 2013, they proposed a budget of 734 billion yen, roughly half of the final costs.

Despite the lack of fans, the Tokyo 2020 Olympic and Paralympic Games were a great success for the home country. Japanese athletes claimed 58 medals, 27 of them gold, their best showing in Olympic history.