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    Tokyo Olympics Cost $1.8B Less than Expected, Organizers Say

    Just 4 ½ months after the Games ended, local organizers said the Tokyo Olympics cost $1.8 billion less than expected. Local organizers announced this Wednesday as they originally estimated the official costs were going to be $13.6 billion. Officials said part of the reduction was due to having no fans spectating. 

    Due to having no fans, there was a major reduction in labor costs and they said other outlays were lower than expected. Olympic costs are very difficult to predict and there are always debates about what are and what are not Olympic costs. A study conducted at the University of Oxford found that Tokyo was the most expensive Olympics on record.

    Organizers of the event hinted final expense figures would roll out after spring 2022 as venues are still being restored and contracts are subject to change. The biggest impact on the budget was the loss of $800 million in ticket sales. This shortfall has to be made up by Japanese government entities. 

    For more information about the source click HERE