Official Costs of Tokyo Olympics Up by 22% to $15.4 billion

Tokyo Olympics say costs $12.6B; Audit report says much more

TOKYO (AP) — Tokyo Olympic organizers said Friday they are spending 1.35 trillion Japanese yen — about $12.6 billion — to stage next year’s games. Organizers said the expenditure is unchanged…

Tokyo closes books on costly, pandemic-delayed Olympics

TOKYO (AP) -- Organizers of last year's COVID-delayed Tokyo Olympics were expected to place the final cost of the Games at 1.42 trillion yen, about tw

Cost and Revenue Overruns of the Olympic Games 2000–2018

In this open access book the cost and revenue overruns of Olympic Games from Sydney 2000 to PyeongChang 2018 from eight years before the Games to Games‐time are investigated to provide a base for future host cities. The study is based on data collected worldwide.

Cost and Revenue Overruns of the Olympic Games 2000–2018

In this open access book the cost and revenue overruns of Olympic Games from Sydney 2000 to PyeongChang 2018 from eight years before the Games to Games‐time are investigated to provide a base for future host cities. The study is based on data collected worldwide.

Regression to the Tail: Why the Olympics Blow Up

The Olympic Games are the largest, highest-profile, and most expensive megaevent hosted by cities and nations. Average sports-related costs of hosting are $12.0

Regression to the Tail: Why the Olympics Blow Up

The Olympic Games are the largest, highest-profile, and most expensive megaevent hosted by cities and nations. Average sports-related costs of hosting are $12.0

Regression to the Tail: Why the Olympics Blow Up

The Olympic Games are the largest, highest-profile, and most expensive megaevent hosted by cities and nations. Average sports-related costs of hosting are $12.0

Asian Games in Japan Leave Questions of Legacy – Adnkronos English

Nagoya, Oct. 5 (Jiji Press)–The first Summer Asian Games held in Japan in over three decades left behind questions of its legacy. The 16 days of sport mainly held in the central prefecture of Aichi through Sunday featured venues full of cheering crowds and scenes of excitement shared by a wide range of people, a sharp contrast to the spectatorless Tokyo Olympics in 2021 during the COVID-19 pandemic. The Asian Games brought together over 15,000 members of delegations from 45 countries and regions. Japan rewrote its record high for both total medal tally and gold medal count for the quadrennial sporting tournament, sweeping up 269 medals, including 83 golds. Japan left behind valuable memories for people in the country. Spectators witnessed high-level performances by athletes, and were introduced to Asia’s vast array of cultures. People also had a chance to see athletes at public events to celebrate the medalists. The 2021 Olympics and Paralympics in Tokyo had 1,423.8 billion yen in costs. The budget for the Asian Games and the Asian Para Games totaled 298 billion yen, despite the number of sports and participating athletes being larger than those of the worldwide sporting festival. The latest Asian Games aimed to create a sustainable event that was simple yet smoothly operated. The organizing committee decided not to newly build an athletes’ village, while opting to host individual sporting events at existing venues in five Japanese prefectures, including Tokyo. The massive sporting event, however, was not without its hiccups, especially in terms of operations. The event was hosted without the involvement of a major advertising agency taking charge of daily operations, which was unusual for a major international tournament in Japan. Without the know-how of such a company, many staff members on the organizer’s side were inexperienced. “There were operational difficulties from the very start,” a senior official of the organizing committee said. An event planning company tasked with venue operations failed to submit venue diagrams in time, according to a person familiar with the matter. “There was a lack of information sharing,” the person said. The person said that preparations dragged on until just before the opening ceremony, due to expense calculations and venue-related planning being delayed. Issues also plagued the tournament after competitions kicked off. North Korea’s national anthem was played instead of South Korea’s anthem at a men’s hockey match against Bangladesh on Sept. 18, while a bus did not arrive to take the South Korean men’s basketball team to a practice session before the final against Japan on Sept. 20. The organizing committee spent a busy period apologizing and explaining these blunders. While the committee had touted strong ticket sales, many spectator seats were empty at some venues. The committee also learned valuable lessons from its delayed responses to inaccurate posts being spread on social media. The committee was quick to act on some issues. An official of the committee said that it had provided round-the-clock support to tackle reports of water leaks, clogged drain and other issues by people staying at container houses serving as accommodation for athletes. On transportation issues, the committee switched to a booking system that did not accept late bus reservations after a predetermined deadline. Junichi Kawai, commissioner of the Japan Sports Agency who has plenty of experience competing at international tournaments as a six-time Paralympian with 21 Paralympic medals in swimming under his belt, said, “We always have issues” at any big tournament. “We’ve resolved them.” The Japanese government plans to put together the country’s accumulated know-how on running a massive sporting tournament, and pass such lessons on to future generations. Japan’s basic law on sports, revised last year, stipulates that efforts securing the transparency of tournament operations and nurturing personnel are state-led measures. As part of the effort, the Asian Games organizing committee needs to leave behind reports and people with related knowledge and experience. In terms of revenues, the tournament’s sponsorship income reached 27 billion yen, exceeding the organizing committee’s goal. The legacy of the latest Asian Games is the method of cutting down on expenses through utilizing container hotels and cruise ships in place of a dedicated athletes’ village, as well as ways to deal with challenges involving the transportation of athletes. Such a legacy will be very important given that Japan may host another massive sporting tournament, including possibly another Olympic Games, in the future. A committee was launched in September to submit a bid to host the 2035 Rugby World Cup. END [Copyright The Jiji Press, Ltd.]

2020 Summer Olympics

The 2020 Summer Olympics, officially the Games of the XXXII Olympiad and officially branded as Tokyo 2020, were an international multi-sport event held from July 23 to August 8, 2021, in Tokyo, Japan, with some of the preliminary sporting events beginning on July 21, 2021. Originally scheduled to take place from July 24 to August 9, 2020, the Tokyo Games were postponed until 2021 on March 24, 2020 as a result of the global COVID-19 pandemic, the only such postponement in the history of the Olympic Games. However, the Tokyo 2020 branding was retained for marketing purposes.

Mainz-Paris study: Cost overruns of Olympic Games comparable to other large-scale projects

The question of costs of Olympic Games has been widely debated in recent years and fueled considerations about whether holding the Games is justified at all in view of the overall costs and especially with regard to the budget overrun. However, there is often a lack of concrete data to show exactly which costs can be attributed to the Games. Sports economists at Johannes Gutenberg University Mainz (JGU) in Germany in cooperation with the Université Paris 1 Panthéon-Sorbonne in France have now compiled a comprehensive list of expenditures and revenues of the Olympic Games from Sydney 2000 to PyeongChang 2018. The results show that the costs of organizing the Olympic Games (OCOG budget) were always covered by revenues and even led to profits. Although infrastructure costs, which are usually financed using taxpayers' money, exceeded the original projections, these were in line with those of other large-scale projects. For the study, the sports scientists analyzed about 280 primarily non-public documents on all Olympic Games since 2000. The 170-page study will soon be published by the Springer Verlag publishing company. A summary with the most significant results is already available.

LA was supposed to have a no-cost Olympics in 2028. The city has already spent $27 million

LA was supposed to have a no-cost Olympics in 2028. City Controller Kenneth Mejia is tracking spending inside the city, including about $11 million to pay workers in various city departments.

The causes of Olympic stadium cost overruns from 2000 to 2020

The Olympic Games have frequently witnessed cost overruns. Olympic stadiums have drawn significant media attention due to their escalating costs, but lack of systematic documentation. This study ai...

The causes of Olympic stadium cost overruns from 2000 to 2020

The Olympic Games have frequently witnessed cost overruns. Olympic stadiums have drawn significant media attention due to their escalating costs, but lack of systematic documentation. This study ai...

Tokyo Olympics sullied by bid-rigging, bribery trials more than 2 years after the Games closed

TOKYO (AP) — The bid-rigging trial around the Tokyo Olympics played out Tuesday in a Japanese courtroom — more than two years after the Games closed — with advertising giant Dentsu and five other c…

Japan emperor declares Asian Games open following turbulent build-up

The 20th Asian Games were declared open by Japan's emperor on Saturday following a troubled build-up to the multi-sport spectacular that has more athletes than the Olympics.