The 2020 Tokyo Olympics will cost about 89 thousand 460 crores ($ 12.6 dollars). On Friday, the organizers presented the final budget for these games. However, the 2028 Los Angeles Olympics will be organized in half i.e. around 48 thousand 990 crores. About 20 thousand Paris Olympics will cost about 53 thousand 960 crores. Out of this, the government will give about 10 thousand crore rupees.
There is a dispute between the International Olympic Committee and the Organizing Committee over the increasing expenses at the Olympic Games in Japan. The two sides are at loggerheads over shifting the marathon to the northern city of Sapporo, especially in the summer. About 3 billion yen (about Rs 195 crore) is to be spent on it. Who will bear this cost is not yet resolved.
IT WILL APPLY SPECIAL PAINT ON THE ROADS TO COMBAT THE HEAT
According to Gakuji Eto, executive director of the financial department at the Tokyo Olympic Organizing Committee, we are talking to the IOC daily about changing the marathon because of the summer. However, it has not yet been resolved. The organizing committee has made several arrangements to deal with the heat. They will spray water spray with heat-absorbing paint on the roads.
ORGANIZING COMMITTEE INCREASED INCOME FROM DOMESTIC SPONSORSHIP AND TICKETS BY 1955 CRORES
According to the organizing committee, income has increased by about 1955 crores because of domestic sponsorship and ticket sales. However, this amount is equal to the amount spent on transportation, safety, and heat avoidance measures. Apart from this, an emergency fund of 1759 crores has been set aside for natural disasters.
IOC ASKS ORGANIZING A COMMITTEE TO CUT EXPENSES
The International Olympic Committee (IOC) is also concerned with the increasing expenses of the event. It fears that this will prevent many countries from hosting these games in the coming years. It has appealed to Japan to cut costs. However, some sports associations in Japan fear that budget cuts will not only harm the players but also reduce the grandeur of the game.
The Government of Japan and the Tokyo Metropolitan Region (local bodies) are jointly organizing these games. The budget share is also equal. However, there is a dispute between the government and the organizing committee over the increasing expenditure. Around 9772 crores spent on the newly built National Stadium has raised questions. Japan’s Board of Audit report on government expenditure has revealed shocking. Between 2013 and 2018, the government spent about 1.06 trillion yen. It is 10 times the budget of the Tokyo Olympics.