Organizers of the Tokyo 2020 Olympics have announced a budget of a whopping $12.6 billion today. This budget still does not include the $27.4 million it will cost to move the marathon and race walk to Sapporo.
The stadium will be equipped to protect both participants and spectators from the heat and even an earthquake should the need arise as Tokyo leaves no stone unturned in their effort to ensure the safety and well being of their international guests as they host next year’s Olympics.
An increase in domestic sponsorship and ticket sales of $27.4 million has helped cancel out the predicted extra costs of security, transport and heat countermeasures.
Tokyo’s high summer temperatures have been a major concern for the organizers who have implemented state of the art countermeasures such as special heat-absorbing paint on the road and water mist sprays.
They have also set aside a $247 million “contingency” pot to deal with unforeseen emergencies such as natural disasters.
Organizers are still at odd negotiating with the International Olympic Committee (IOC) about moving the marathon and walking race as it is the IOC that will have to foot the bill for the move.
The budget for the games is shared between the IOC, Tokyo Metropolitan Government, and the national government.
The government has already absorbed the $1.37 billion cost of the new stadium.
AS high as this budget sounds, it does not begin to compare to the $40 billion spent by China during the 2008 Beijing Olympics or the Russia’s $51 billion tab for the Sochi 2014 Olympics