Tokyo Olympics Budget up by 22%, Organisers to spend $900 million on coronavirus measures

Tokyo Olympics Budget: The Organisers of the deferred Tokyo Olympics has gone up by 22 per cent as they will spend a whopping $900mn on Covid-10 measures, they said on Tuesday. In an online news conference, organisers said the Olympics will now cost USD 15.4 billion to stage. This is up from USD 12.6 billion in last year’s budget.

“We want to build the best possible system by continuing to interact with the relevant organisations of doctors and nurses,” Tokyo Olympics chief executive Toshiro Muto told reporters.

“It’s still a big issue for us to secure as much medical staff as we hope for when faced with a situation where private medical institutions are struggling with management because of the coronavirus,” Muto said.

The organisers, in March, took the unprecedented step of postponing the Olympics by one year because of the pandemic and the government of Prime Minister Yoshihide Suga, who has declared he will host the Olympics “at any cost”, is pressing ahead with the preparations.

Even before the postponement, the Olympics had gone above the initial budget with almost $13 billion already spent, according to the organisers.

The COVID-19 countermeasures will include PCR testing infrastructure, setting up a clinic, as well as creating remote coverage set-ups and countermeasures at food and drink processing centres, the budget summary showed.

Some of the extra costs would be covered by additional sponsorship and insurance, organisers said this month. They would also tap a contingency fund detailed in last year’s budget to cover some costs.

Tokyo Olympics will be held from July 23 to August 9.
(With inputs from Reuters)