The Shocking Cost of the 2020 Tokyo Olympics Announced!
The cost of the Tokyo Olympics, which had problems with postponing due to the pandemic and lost a lot of income because it was held without spectators, has been announced. According to the information, the Olympics cost 15.4 billion dollars. Tokyo thus became the most costly Olympic event ever held.
Although the amount to be spent on the Olympic games is determined each year in advance, we did not see that the amounts spent matched with the previous calculations. The 2020 Tokyo Olympics do not surprise us in this regard either. When the event, which experienced delays, was carried out without an audience, we can say that the background of the Olympic Games this year was quite troubled.
This year's Olympics cost $15.4 billion:
According to research by Oxford University, the 2020 Tokyo Olympics cost $15.4 billion. In the Olympics held since 1960, there is an average of 172 percent difference between the initially agreed cost and the amount written on the invoice. For the Tokyo Olympics, this ratio is thought to be between 111 and 244.
Victor Matheson, one of the experts in sports economics, says that the costs of the previous Olympics increased to 40 billion dollars (2008 Beijing Games) or 51 billion dollars (Sochi Winter Games), but when calculating these amounts, infrastructure costs are also included. In the $15 billion accounts, there is no infrastructure cost.
In addition, the delay of the event has a large share in the increase in the cost. According to the information, the additional burden brought by this was approximately 2.8 billion dollars, while the fact that the games were performed without an audience caused approximately 800 million dollars to be sacrificed.