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Saturday, May 18, 2024

Tokyo Olympics Cost $1.8B Less Than Previous Estimates

  • The Tokyo Olympics cost $1.8 billion less than previous estimates.
  • The main reason is that a lack of fans led to lower staffing levels.
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Yukihito Taguchi-USA TODAY Sports/Design: John Regula

The Tokyo Olympics faced a raft of problems related to the global pandemic, but the final bill came in well under previous estimates.

The Summer Games cost organizers an estimated $13.6 billion, $1.8 billion below a prior prediction of $15.4 billion.

Much of the reduction was due to lower staffing levels, as no fans were permitted to attend. However, that same restriction cost the Olympics $800 million in ticket sales. 

  • The Tokyo Organizing Committee predicted a total cost of $6.4 billion when first making its bid for the Games in 2013. Those costs ballooned due to construction and the decision to postpone the event for one year.
  • Japanese sponsors invested around $3 billion, and some have reportedly complained that they saw little to no return on their investment.
  • The International Olympic Committee, which profits off broadcast rights and sponsorships, contributed $800 million, while an additional $500 million came from Olympic partners.

The organizing committee paid around $5.9 billion to host the games — roughly equal to total revenue.

Final Costs Still TBD

Organizers said that final figures would not be available until spring 2022 due to ongoing work on venues and certain contracts that need to be finalized.

The Tokyo Games were previously estimated to top London’s $15 billion spent in 2012 as the most expensive Olympics ever.

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