Security and venue buildout push spending, despite cost-cutting efforts
TOKYO — With a year to go until the opening ceremony, the budget for the Tokyo Summer Olympics and Paralympics has ballooned to 1.35 trillion yen ($12.5 billion) despite efforts to curb costs, while security and other issues boost outside expenses.
Event organizers face the task of ensuring that the games go on without a hitch while controlling costs. About 90% of the sporting venue construction has been completed, which is close to the schedule, and ticket sales have begun. The opening ceremony will be held on July 24, 2020.
Roughly 40% of the venues will be outside of Tokyo. This is a far cry from the original 2013 plan, which called for a compact Olympics placing 85% of venues within 8 km of the Olympic Village by building new facilities on the waterfront.