Tokyo organizers face more cost increases for 2020 Games
— While Rio Olympic organizers are under immense pressure to finish preparations before Aug. 5, their Tokyo counterparts are already facing skyrocketing costs.
Tokyo 2020 organizing committee president Yoshiro Mori acknowledged at an executive board meeting this week the cost of building seven temporary venues for the Olympics has surged to an estimated $2.6 billion (all figures US), up from an estimate of $690 million. Mori said the original figures were the result of sloppy calculations which he blamed on the Tokyo metropolitan government and the Olympic committee. The organizing committee hasn’t disclosed an official estimate of the overall costs but has acknowledged it will be considerably higher than the $3.5 billion that was forecast in the bid.
Preparations for the 2020 Games have been plagued by a series of scandals involving the new national stadium, the official logo and allegations of bribery in the bidding process.
Work on the new national stadium has fallen behind schedule because the government abandoned an original design due to spiralling costs.