Tokyo Olympics 2020-21 is set to be the most expensive Olympics in history with budget of $ 12 billion due to the corona pandemic. By now, $1.43 billion national stadium and the $520 million swimming venue have been built. Thomas Bach – President IOC International Olympics Committee spoke through video calls with Yoshiro Mori – President Tokyo 2020 Organizing Committee and Yuriko Koike – Tokyo Governor in this regard.
Few cost cutting measures had already been taken that facilitated slashing of several billion dollars in costs for the Tokyo Olympics.
With the aim to slash further $ 280 million, the following cost cutting measures are suggested by IOC and Local Organising Committee:
Cost Cutting Measures For Tokyo Olympics:
- – Events are shifted to existing venues instead of building new facilities.
- – A reduction in delegation sizes to the extent of 10-15%.
- – Ninety five international interpreters instead of 100.
- – Fewer decorative banners.
- – Hospitality areas are to be reduced.
- – Production of mascot costumes to be suspended.
- – Fewer shuttle buses.
- – Official team welcome ceremonies to be cancelled.