Final cost of Tokyo 2020 Olympics to be revealed in June

The final price tag of the Tokyo 2020 Summer Olympics will be revealed in June when the organizing committee gives their report.

Tokyo 2020 Organizing Committee CEO Toshiro Muto has suggested the final cost could be “a little bit lower” than expected, but did not elaborate as to why.

Back in December organizers said the cost of the Games would be about $1.8 billion less than the projected estimate of $15.4 billion. That would put the price tag for Tokyo 2020 at $13.6 billion. No fans were allowed to attend the Tokyo 2020 Games due to COVID-19 which helped to reduce overall costs.

“We are looking at every single detail,” Muto said. “It is not something where I can say this is the major reason why we are expecting a lower figure. It cannot be simply put that way.”

Whatever the final number is, a study by the University of Oxford in the United Kingdom said the Tokyo 2020 would hold the unwanted distinction of being the most expensive Games in history. The costs of the previous two Summer Olympics in Rio de Janeiro and London were between 14 and 15 billion for each host city.

Sapporo is bidding to host the 2030 Winter Olympics and Muto said his committee will share their insight in hosting the Games with Sapporo’s committee.