Tokyo counts cost of $15 billion pandemic Olympics

Whose pocket fulled and whose got empty? We all know.

Watched the Olympics coverage from Australia everyday. It was the most enjoyable I've experienced and much has to do with being able to watch everything online. Technology has improved the viewing experience. Great job Tokyo - thanks for your efforts. Hopefully you can get on top of the virus now.

More taxpayer money going to these global oligarch organizations, bureaucracies, etc.

@hiro a very long list- you forgot to mention the multitude of brown envelopes

Well, for that 15 billion dollar price tag, Tokyo got a consolation prize of 1.4 billion dollar remodel of Tokyo stadium. Lol.

Greece went bankrupt also due to the Olympics cost.

Japan has a 5.5 trillion dollar economy. 25 billion amortized over 10 years is a rounding error.

Greece went bankrupt also due to the Olympics cost.

It's totally a nonsense amount of money.

it normally comes with hordes of foreign visitors dropping money on accommodation, meals, drink, souvenirs and travel/tourism within the country, giving the economy a boost and the locals a chance to turn a profit.

We were expecting to get a lot of ancillary work from the Olympics in our businesses, and had worked it into our long-term plans. Between the pandemic and then the no-specator Olympics, we've had to significantly regroup over the past couple of years.

I really enjoyed watching the Olympics, but they should have been put off until they could have had spectators. Japan got screwed on this one.

So apparently a life cost $15 billion. Good job IOC

Hosting the Olympics has always been an expensive affair.

But it normally comes with hordes of foreign visitors dropping money on accommodation, meals, drink, souvenirs and travel/tourism within the country, giving the economy a boost and the locals a chance to turn a profit..

There has been none of that this time.

All of the expense, none of the profit.

This is not News.

Hosting the Olympics has always been an expensive affair.

Some of you are pretennding like this is unique for Japan. Forgetting how much other countries have spent in the past decade.

What a pathetic attempt this article is making of criticizing the Japanese government without committing to actually criticizing them in clear words.

The media jumped on the bandwagon when there were a few ratbags protesting the games to be cancelled, but the same media were only too happy to report how great the events were each day. Now, they are going to stir up trouble over the actual losses made by the games for their own gains. The media today have no scruples.

None of the media would report the huge difference of cancelling the games as opposed to going ahead with the games on a restricted basis. For those without a clue, the Japanese government would have faced a much larger bill to cancel the games (sponsorship money, tv right fees, cancellation fees, law suits, etc). A conservative estimate (not including law suits) would be approx. JPY160,000 per tax payer. I was definitely not prepared to pay this out of my own pocket.

Be careful, check the facts before you trust the media. They are only keen to publish the information they want you to know.

Xulux

The costs for the Nagano Winter Olympics was around $15 billion in today's dollars.

It took Nagano the city more than 20 years to get out of the red.

Tokyo is not Nagano. GDP of Tokyo is $1.8 trillion. $15 billing is nothing.

I would take a deep breath and be seated with gas and air on nationwide standby as soon as you feel the financial contractions begin, after the full official auditing ;process $40 billion could the final cost

The costs for the Nagano Winter Olympics was around $15 billion in today's dollars.

It took Nagano the city more than 20 years to get out of the red.

But technically it's not all despair and gloom. Let me explain. $15billion might look a lot, but that doesn't mean the money actually just gone up in smoke.

First of all, construction cost. Meaning materials and hiring workers etc, the money still kinda flow back into the Japan economy and had created jobs and money making opportunities for some. Secondly a large part of it cost is heavily sponsored by large companies from around the world. Not just Japan companies but also other world famous companies. Thirdly a lot of dedicated fans has donated a lot too to the games. Then you have merchandise that cost you money to make but you also sell them during the olympic. Fourthly many huge projects and infrastructure are lasting and doesn't just disappear. it can always be reuse for the next generation of athletes and in case of a next huge event, these places can still be use to hold these event. Meaning cost can be lower the next time. Fifth, getting thousand of athletes here from around the world and supply them with food, is not only profitable for the dying flying industry but also for many farms who had produce the food and supplies for the olympic. So the money is still being spend inside the country. For example even if you had use fireworks to celebrate, it also means you had use that money to pay for the fireworks that someone in Japan had made and instead help them recover a bit of money during the pandemic. And sixth, a large amount of money is also being invested to the athletes to help them develop and grow. Without funding, a nation athlete cannot be famous and go further.

Overall, whether it's $15-30billion, a large part of the money is still flowing into the economy and isn't actually flowing out of the country. And that is important if you had study economic. Now downvote if you want, but i merely stated the fact how the money situation work. This is fact. SO don't go suddenly crying about how this all is suddenly a huge debt for Japan to shoulder. Because if that is what you think, then you just don't understand how the whole economy even works. Many of the huge cost the government had spend actually generate gdp and also create infrastructures that will be use for decades to come. So in your eyes it might just be a wasteful show, but in the eyes of companies and the government, it helps create a lot of things.

The only issue most companies and citizens has with the olympic is that the government is focusing too much on the games and taking much needed manpower away that instead could be use to help control the pandemic better. And that would cost lives. Citizens are against the pandemic not because of the cost but because of people dying from the virus.

$15 billion, my foot! That's just a little more than Rio. I'm willing to bet it will cost more than Sochi which was a whopping $51 billion (well over Beijing 2008's amount which was already high).

The title has nothing to do with the article. The whole articcle didn't even mention the cost or how it manage to reach such a high number.....

Was a very costly mistake to host these games and will be a stain on the legacy of abe and suga’s terms of office. They can bring out any sound bites they want, but this was the most unconnected olympics to the host country, an unwanted white elephant. I hope it was worth it suga..

still wondering what countries get for the "privilege" of hosting this garbage...

The absence of a truely independent audit agency and the lack of accountability with the ruling LDP and bureaucrats means the true cost of this olympics will never be known by the general public that footed the cost. One would be very naive to believe the 15B usd being thrown around.

Well, here is Japan's $15 billion bill for the pandemic Olympics. Bach is home free and those of us in Japan are left to clean up the mess. The orgy of heightened delight is over. Now we are left with a huge headache of cleaning up the mess, most importantly with the rising cases of COVID-19.

Fun while it lasted. No fun for a long time.

Get ready for comments like, "It is important that Japan as a nation share the burden of the extended cost of the Olympics -- which is of course due to the pandemic" from Koike and Suga this week, as well as talks about increasing taxes to cover it and other things.

Kev James:

15 billion dollars - wow!

It's really not a big deal for Tokyo, a megacity of 1.8 trillion economy.

Now watch out for the left hook.. Increased Ward taxes I'm predicting all types of increases, Medical, Sodai Gomi, Ward Sports and Rec centers,i bus fares, subway etc.. now Imaging supporting your family on an Eikaiwa salary!!!!

Tokyo is counting the cost so that it will be passed on to all in Japan now and in the future….

There was a government audit last year that estimated the cost to date at between 28 and 30 billion dollars, and that was just for traceable money. Many of the costs have been paid from or disguised in other budgets, or just plain hidden, such as the original 2 million dollars cash to the fixer based in Singapore, which is still the subject of an investigation by France.

Experienced Olympic watchers think it wll be closer to 40 billion dollars, based on earlier games.

All who live here will remember the Nagano Winter Games were accounts and receipts were conveniently deleted when questions were asked.

Tokyo counts cost of $15 billion pandemic Olympics

What? That's a gold medal in being economical with the truth headline. If the Tokyo taxpayers get any change out of $40 billion it'll be a miracle.

Let's not forget that 16 year veteran JOC accountant Yasushi Moriya threw himself under a train just before the Games began, a not uncommon occurrence among officials in Japan....

Not to worry @klausdorth 5:49p.

- “There comes the tax increases,…”

You see, both Abe & Suga ‘promised’: 

- a hike beyond Japan’s 10% consumption tax "will not be necessary for the next 10 years or so." - Sep 11, 2020

Maybe you’re right. Heres some history:

When did Japan increase the consumption tax? Just after the winning bid for the Olympics in 2013.  Abe raised the then 5% consumption tax rate to 8% in April 2014, …and then again to 10% in October 2019.

Which one @Mirchy:

“Fans were locked out”

or,

the “punch in the face” ??

@Mirchy 5:54pm: “Photo#2 a nice illustration of what Japan has gained from the Olympics.

Seems like it was BOTH.

15B USD / 70M employed = 215 USD per employed. Easy peasy lemon squeeze. Let's pay and forget about it.

These Olympics could be called many things but certainly not the Recovery Olympics.

"15 billion wasn’t on the price tag when flogging the Olympics to the taxpayer."

Proper Japanese will pay.

Plastic ones, moan.

Simples.

Tokyo counts cost of $15 billion pandemic Olympics

Unbiased media, as usual. How good to know that for the genocide Olympics in Peking next year, there will be no Corona hysteria, as the CCP has gloriously defeated the virus.

Photo number 2 is a nice illustration of what Japan has gained from the Olympics.

Not a lot for an international event.

Really? What are you comparing it to?

Not a lot for an international event.

Wow! No chance to recoupe some of that back from tourism any time soon either. By the time we are allowed back the Olympics will be long forgotten.

15 billion wasn’t on the price tag when flogging the Olympics to the taxpayer.

The Asahi Shimbun daily, which had called for cancellation despite being a sponsor of the Games, said the nearly $15 billion event was a "gamble" with people's lives.

"This gamble went ahead, making the situation worse," it said on Monday.

Did the Asahi Shimbun, who came out with the Olympics costing 28 billion USD (3 trillion yen) in late 2019, say they cost half that "on Monday" (i.e,. today)? This makes no sense. The Nikkei Shimbun also used the same 3 trillion yen number in 2019. Note that the timing was after the marathons were moved, but before the year-long postponement due to Covid, which cost another 3 billion USD.

https://apnews.com/article/asia-pacific-ap-top-news-tokyo-sports-general-japan-eb6d9e318b4b95f7e53cd1b617dce123

so why I have to get vaccinated if I can get Delta variant?

completely nonsense

It never ceases to amaze me at comments like this.

You can still catch the delta variant if you are fully vaccinated, but you are far less likely to catch it and spread it if you are. In addition, if you do catch it, and if vaccinated, you are highly likely to just experience minor flu like symptoms. Is that clear?

‘Bach’ doesn’t have your money @Jaspc 5:06pm. That caveat was already covered by John Coates:

- “Still waiting for my tickets to be reimbursed. Where's my money Bach?!

Mar 12 - Source: “IOC members worry about banning overseas fans from Olympics”

*“John Coates, the IOC who oversees Tokyo preparations, said ticket refunds were “a given”, if needed.” -*

“If needed” apparently meant your “donation’ to the IOC was graciously accepted and appreciated. “Thank you for your contribution” was perhaps implied at that time.

On the bright side, it may be ‘tax deductible’ ?? - (Please consult your accountant.)

I was against the games since the onset in 2013. Japan, as the host nation, didn't even win most gold medals. What is there to be proud about? I cynically was happy that the US came out on top and bested China, but that had more to do with politics than sport. What did Japan gain from this quagmire? 3rd place? Seems like a high price to pay for meaningless medals.

The most expensive and pathetic Olympic Games ever.

Tokyo and many other parts of the country are under virus state of emergency, and only around a third of the country is fully vaccinated as the Delta variant fuels surging infections.

so why I have to get vaccinated if I can get Delta variant ?

completely nonsense

JimToday  05:06 pm JST

Suga was disparately hoping that the strong showing of Japan with record medal haul will shift public opinion in his favor for upcoming elections but recent poll shows his approval ratings at 29% which is lowest ever till date - so that gamble he took has failed for him.

Now he will try to prolong elections as much as possible with only hope that vaccinations will help control the spread of corona cases otherwise he is toast - personally still believe LDP will win with Komeito support but lose super majority, Suga will be made a scapegoat, get a fantastic golden/platinum parachute but nothing will change and we will see more of the same.....

Mostly agree. The LDP is expected to lose seats in the election but it is unlikely to lose a majority in the lower house together with its coalition ally Komeito.

All these rants about the LDP being ousted because of the Olympics or COVID-19 or whatever are knee-jerk reactions from people who may not be aware of the nation’s true political landscape.

The main opposition party — the Constitutional Democratic Party of Japan (CDP), led by Yukio Edano — is too weak to make a viable challenge and not willing to cooperate with the Japanese Communist Party to form an alliance. And let’s not forget why Edano’s former party, the Democratic Party of Japan, was ousted from power in 2012 — its poor response to the main event of that time, the 3/11 earthquake/tsunami/nuclear disaster.

Unfortunately for the Japanese public, the CDP is generally recognized as a party that is generous with criticism but lacking in viable, workable solutions.

I, personally, would love to have a strong opposition party challenge the LDP and bring greater accountability to government, but the realist inside me tells me that the LDP will remain in power beyond the next election.

NYT reported last week that the total price was over $30 billion and Japan is now further in debt than when they started and will not recoup any of the losses. The IOC will at best break even. Such a waste of public funds.

So doing a little math, that means each gold medal Japan won cost all of us $555,555,555.5556. I don't think that is a good return on our investment.

That’s quite a price for an orchestra on the Titanic.

These Olympic Games have been a powerful demonstration of the unrelenting power of greed.

Tokyo awoke to a huge bill and soaring coronavirus cases on Monday after pulling off a mid-pandemic Olympics that at times looked impossible and had a mixed reception to the end.

Welcome to ground reality - there is a limit to how far one can bury your neck in sand and ignore reality - it will come back to haunt everyone with increased taxes as the hangover of these shiny medals wear off....

Suga was disparately hoping that the strong showing of Japan with record medal haul will shift public opinion in his favor for upcoming elections but recent poll shows his approval ratings at 29% which is lowest ever till date - so that gamble he took has failed for him

Now he will try to prolong elections as much as possible with only hope that vaccinations will help control the spread of corona cases otherwise he is toast - personally still believe LDP will win with Komeito support but lose super majority, Suga will be made a scapegoat, get a fantastic golden/platinum parachute but nothing will change and we will see more of the same.....

don't you mean $30 billion?

Still waiting for my tickets to be reimbursed. Where's my money Bach?!

15 billion dollars - wow!

I am happy for the athletes that they could enjoy their Olympics, but it really was just for them. It certainly wasn’t for the benefit of the local economy or the taxpayer. That money could have been better spent in other areas, other fields such as the medical field.

Can Japan recoup any of this, half of this? I hope so because it’s otherwise it’s been a very expensive sports day for us to watch on TV.