Tokyo Olympics could top US$30 billion: panel

TOKYO – An expert panel commissioned by Japan’s capital city has warned that the total cost for the Tokyo 2020 Olympics could exceed three trillion yen (US$30 billion) unless drastic cost-cutting measures are taken. The panel on Thursday said the ballooning costs reflect an absence of leadership and a lack of governance and awareness of cost control. The panel, headed by a Keio University professor, was launched by newly elected Tokyo Gov. Yuriko Koike after she raised concerns about evergrowing unofficial cost estimates and the potential burden on the city and its taxpayers.