The Organizing Committee of the Olympic and Paralympic Games Tokyo 2020 has published its final financial report detailing its revenue and expenditure, which were balanced, and the overall financial results of the Tokyo 2020 Games. Tokyo 2020 achieved a balanced budget of JPY 640.4 billion (USD 5.8 billion), thanks to increased revenue and constant efforts to monitor spending.
The main sources of income were –
International Olympic Committee (IOC) support JPY 86.8 billion (USD 0.8 billion), top sponsorship of JPY 56.9 billion (USD 0.5 billion), local sponsorship of JPY 376.1 billion (USD 3.4 billion), insurance of JPY 50.0 billion (USD) Payment (USD 0.5 billion) for games postponement and other sources of revenue, including licensing, until tomorrow.
As far as expenses are concerned –
JPY 195.5 billion (USD 1.8 billion) went to location-related costs, such as temporary infrastructure (overlay) and technology, and JPY 444.9 billion (USD 4.0 billion) went to services such as competition and location operations, transportation and security.
The total cost of the Games, including the Government of Japan and the Tokyo Metropolitan Government, was JPY 1,423.8 billion (USD 13.0 billion). This includes JPY 220.2 billion (USD 2.0 billion) from the five budgets of Tokyo 2020 announced in December 2020 and an estimated budget of JPY 29.2 billion (USD 0.3 billion) from the estimated budget of the games announced in December 2021.
Total cost breakdown –
JPY 864.9 billion (USD 7.9 billion) for location-related costs, such as permanent locations, temporary infrastructure (overlay) and technology, JPY 523.6 billion (USD 4.8 billion) for service costs, such as competition and location operations, transportation and JPY 35.3 Billion (USD 0.3 Billion) for Security, and COVID-19 Counter.
Total expenditure related to the Paralympic Games in particular is JPY 151.4 billion (USD 1.4 billion).
The Olympic and Paralympic Games Tokyo 2020 were held in unique circumstances because of the first postponement of the Games, due to the spread of COVID-19. As a result, it was decided to limit the number of spectators at most of the competition venues, which also affected the sports finances.
However, the spirit of cooperation and partnership during the planning and delivery of the Tokyo 2020 Games helped to save significant budget by reviewing the location master plan and the implementation of Olympic Agenda 2020 + 5 and new standards. And after the postponement, more savings were achieved through correction and facilitation.
Through these joint efforts to improve and simplify performance, Tokyo 2020 Games JPY 1.423.8 Billion (USD 13.0 Billion), JPY 2 Billion 76 Provided with the final costs of. (USD 0.7 billion) The version announced in December 2016 is less than a budget.
The budget was presented as a formal body at the last Tokyo 2020 executive board meeting, with the organization set to close its work by the end of June 2022 and enter its final liquidation process. These financial results follow the reports of the Organizing Committee and Tokyo. The 2020 Coordination Commission in the IOC session earlier this year.
Topics covered in this article