The Tokyo Olympics cost $ 1.8 billion less than expected, local organizers said on Wednesday, four and a half months after the Games ended.
Organizers said the estimated official costs were $ 13.6 billion. Officials clarified that part of the reduction was due to the fact that there had been no bystanders – due to the pandemic – which significantly reduced labor costs. They also noted that other expenses were lower than forecast.
Organizers have indicated that final spending figures will not be available until spring 2022, as competition venues are still being restored and contracts may still be revised.
The biggest blow to the budget has been the loss of $ 800 million in ticket sales, a shortfall that must be filled by Japanese government entities.
Officials said the privately funded portion of the budget – more than $ 3 billion from sponsors, the International Olympic Committee and other sources – was $ 5.9 billion.
The rest of the money was provided by the Tokyo Metropolitan Government and the Government of Japan.
The International Olympic Committee contributed approximately $ 1.5 billion to the total cost of hosting the Games.
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