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Tokyo 2020 Olympics

Tokyo Olympics cost doubles to $13bn on COVID and overruns

Snowballing budgets raise questions about taxpayer burden

The Summer Olympics in Tokyo proved costly to Japan, owing to construction cost overruns and a one-year delay from the pandemic. (Photo by Kento Awashima)

TOKYO -- The price tag for last summer's pandemic-delayed Tokyo Olympics and Paralympics ballooned to 1.42 trillion yen (about $13 billion based on 2021 rates), nearly twice the initial estimate, with taxpayers footing 55%, the Tokyo organizing committee said Tuesday.

The report broke down the bill between the committee, which received funding from sponsors and the International Olympic Committee; the Tokyo government; and the central government. The share for the latter two came to 783.4 billion yen -- roughly 80% more than the 432.7 billion yen estimated in 2012. The total estimate was 734 billion yen at that time.

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