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Tokyo 2020 Games the Most Expensive in History

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Tokyo 2020 Games the Most Expensive in History

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Experts agree that the Tokyo 2020 games will go down as the most expensive Olympics in history as the world bid farewell to the Olympics this past weekend.

  The bid committee projected total costs of Ksh.795 billion when Tokyo got awarded the Olympics back in 2013.

Further, the figure was revised upwards to Ksh.2.6 trillion in December 2019 ahead of the postponement.

Nevertheless, Japan’s National Audit Board reported that the final cost would be substantially higher at Ksh.3 trillion.

A figure, Ksh.1.7 trillion more than the cost of the Pyeongchang winter games held in 2018.

The Tokyo 2020 games were to take place between July 24 and August 09, 2020.

However, they got postponed in March of last year due to the pandemic.

According to Forbes,  the 2020 postponement alone is estimated to have cost Japan Ksh.304.9 billion.

Two-thirds of which were paid with public funding.

In December last year, the organizers of the Tokyo Olympics announced that the cost of the games had increased by 22 percent from the initial estimated cost.

The extra increase the organizers said had come from the expenses of renegotiating contracts due to the postponement of the games and sustained measures to combat the COVID -19 Pandemic.

Previous Games

It cost the organizers of the Rio Olympics an estimated Ksh.1.4 trillion unlike,  the Winter Games in Sochi Russia that cost Ksh.2.3 trillion.

Furthermore, the cost of the London Olympics was at Ksh.1.6 trillion,  Beijing Olympics cost Ksh.741 billion and,  the Turin Winter games held in Piedmont Italy cost Ksh.479.3 billion.

 Moreover, the Vancouver Games and the Athens games held in 2010 and 2004 have been cited as the least expensive games with  Ksh.272.3 billion and Ksh.315.9 billion.

Tokyo Olympics games concluded on August 8.

 Therefore, the focus shifts to the 2024 Olympics slated in Paris, France.

It will be the sixth time  France hosting the Olympic Games.

France hosted two summer games in Paris previously in 1900 and 1924.