tokyo 2020 olympics

Money, money, money: The cost of Tokyo's pandemic-delayed Olympics

51 Comments
By Elaine Lies

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50 gazillion dollars down the drain so that some people can run around in circles, throw sticks, and pick up heavy things. What a colossal mess.

19 ( +22 / -3 )

@LDTM

That would mean the focus was on the athletes, and we all know the IOC don’t give two hoots about them.

(or anyone else)

The reason for this colossal mess is

to

A) save face

and

“A”) line the pockets of the corrupt

12 ( +14 / -2 )

Only the countries that have cash flow should host these games.

When it made its bid, the Tokyo delegates assured the selection committee it had all the necessary funds. That turned out to be one of the many lies and deceptions by Tokyo that won it the Games.

8 ( +13 / -5 )

Thrown away billions that would have been needed by its own people, to be paid off by their grandchildren all for a two week IOC pocket lining fundraiser. The scale of this criminality is incredible, even Olympic

8 ( +11 / -3 )

When it made its bid, the Tokyo delegates assured the selection committee it had all the necessary funds. That turned out to be one of the many lies and deceptions by Tokyo that won it the Games.

@Samit Basu was right after all.

Japan isn't wealthy anymore because the elite bureaucrats and business elites destroyed Japanese wealth permanently in the most epic bubble of all times in 1990s as well as poor preparation against both 2009 Great Recession and 2020 Covid-19 Great Depression. The ongoing Olympics debacle exposed the true face of "wealthy Japan" which isn't.

Japanese Board of Auditors are useless. The Governance in Japan is non-existent and the oversight that they should be doing is also.

If Japan truly accommodates the international standards of accounting and corporate responsibility, then 99% of Japanese firms would cease to exist. Takata can't simply fool the West with their explosive airbags. Fraudulent activities in the West or even in China-the SEA have grave consequences including the total dissolution of a company.

8 ( +10 / -2 )

I’m not a religious person, but that bit about the love of money being the root of something or other…that was - pardon the irony - right on the money.

7 ( +10 / -3 )

I heard a rumour that the Olympics used to be about sport.

7 ( +11 / -4 )

Hence,

“…the entire cost of holding the Games come to about $15.4 billion,

..: the hard-working citizens and working resident Tax-Payers will be paying the price for a very long time.

including $2.8 billion in costs for the unprecedented postponement”-

Failure to act quickly 20 months ago by the IOCLDPJOC created this “additional profit” for Them, not the people.

6 ( +10 / -4 )

Organizers said last December that the entire cost of holding the Games would come to about $15.4 billion, including $2.8 billion in costs for the unprecedented postponement from 2020. Since then, the projected bill for postponement has risen to $3 billion.

Missing from this impressive list of figures: The cost of crony contracts for useless infrastructure for construction firms and Dentsu. The possibility of not only a superspreader event but also the prioritization of the Olympics which has undoubtedly negatively affected the pandemic response and vaccination efforts.

And the inevitably coming regressive tax increases which will use all the associated losses from the event as a rationale, with the threat of benefit cuts and financial instability used as a threat. All for an event few wanted or benefitted from.

6 ( +9 / -3 )

Only the countries that have cash flow should host these games.

5 ( +8 / -3 )

Japanese Board of Auditors are useless. The Governance in Japan is non-existent and the oversight that they should be doing is also.

5 ( +8 / -3 )

Nice photo.

4 ( +12 / -8 )

Organizers said last December that the entire cost of holding the Games would come to about $15.4 billion, including $2.8 billion in costs for the unprecedented postponement

In previous article on this, it was pointed out that the government's own experts say that the actual cost once all the information is in will be more than double the above amount.

To put that into a way we can understand what that entitles.

The previous host city that had the largest loss was $ 1.2 billion and it took 30 years to that city 30 years to pay it off,

The losses Tokyo and it's tax payers will be far greater even adjusting for population, economy, etc....

Our grandchildren will still be paying off this debt,

4 ( +12 / -8 )

The actual cost is always way more than the original estimate, and it's not even close. Why do we allow ourselves to keep getting fooled by this nonsense? The whole thing is a scam!

4 ( +6 / -2 )

Organizers said last December that the entire cost of holding the Games would come to about $15.4 billion, including $2.8 billion in costs for the unprecedented postponement from 2020.

But the Japanese Board of Audit said 3 years ago that the cost is likely to be $25 billion at least, and probably even more.

https://www.espn.com/olympics/story/_/id/24944267/costs-2020-tokyo-olympics-hit-almost-25-billion

3 ( +8 / -5 )

Main reason for these super-spreading silly Games? MONEY.

3 ( +7 / -4 )

New Olympic anthem.

Money by Pink Floyd!

3 ( +8 / -5 )

I had a talk with a Japanese national yesterday on this topic here in Tokyo ~ and she said that she will enjoy the Olympics and she is proud that Japan is showing the world Japans spirit.

I thought, Japans spirit?

You see, when it comes to Japan, Japanese people care only about Japan and Japanese people.

In Japan, you will see the Japanese athletes on TV no matter if they win or not. And you will barely see international people on Japanese TV during the Olympics.

Why?

Japanese people care only about Japanese people wether they win or lose.

They do not care about international people or athletes at all.

The focus is always on Japan even if this is a global event.

3 ( +8 / -5 )

On top of this are the costs different from economic, if the games cause an increase of the number of cases that would mean preventable deaths would also have to be considered part of what it took to hold the games. Same with the resources sequestered by them (health care personnel, vaccines, tests) that could have been used to better control the pandemic.

3 ( +5 / -2 )

The O-rings at the ‘base of Japan’s corporate structures depicted in the photo ‘convey more of the reality’ than the Japanese man walking at the feet of “Liberty”.

2 ( +7 / -5 )

You play, you pay.

most countries have figured that out by now

2 ( +5 / -3 )

I heard a rumour that the Olympics used to be about sport.

It hasn't been about sports or sportsmanship in decades.

When one realises that the top 20 powerful economy countries using the best training, equipment, etc.... money from government and sponsorship take home the vast majority of all medals, this becomes even clearer.

The top 10 countries in the last Olympics took home over half of all the medals, the next 10 high economic countries took home half of the remainder.

Less developed countries took home at best one or 2 medals.

2 ( +7 / -5 )

Cities specializing in sports are best suited to host the Olympics. My hometown of Los Angeles is one. All of the facilities are already in place, so expenses are miniscule. In fact, the '84 LA Olympics was one of the only to have made a profit. It reused the stadium built for the 1932 Olympics.

2 ( +4 / -2 )

ifd66Today  08:32 am JST

I heard a rumour that the Olympics used to be about sport.

Once Tokyo is over, we’ll look back at the 1988 men’s 100 meters as just “high-jinks to get a slight edge over the competition”.

1 ( +4 / -3 )

@Michael Machida

To be fair, I don't think that is purely a Japanese thing. I have lived in a few countries during olympic periods and as long as the country broadcasting is competitive in a sport at all, there is a strong bias there (as a lot of their viewers probably want to see it) Good luck watching swimming in the United States if you are pulling for any non-American or archery in Korea. Sports the broadcasting country aren't competitive in get a more fair shake.

It shouldn't matter this time around because they shouldn't even be happening, but that is honestly pretty much par for the course.

1 ( +3 / -2 )

@addfwyn

Was about to write the same thing. In France too, recent TV coverage of the Games has been 90% about French medals, the remaining 10% about the huge international stars like Bolt.

This time I won't be bothered as I won't watch anything.

1 ( +3 / -2 )

It's visceral. I can feel my tax burden growing.

1 ( +3 / -2 )

Olympics 2020 is mere vested interests to benefit handful corporations who are friendly to government and ruling party by huge tax under the name of sports.

1 ( +2 / -1 )

*Welcome to JT *@AliciaMyers 7:10am. Interesting.:

*- **“We already know the people that post this news here also comment everything here.”*

English & Japanese are Second Languages for many here, too. Do you mean the writers may also periodically make their own comments here? It’s possible, but perhaps, more probable within the local scope of monitoring..

*To her credit, the writer, according to “Muckrack”, has a significant resume and* over 3700 articles accredited to her. Many reflect some objective reporting & writing with Reuters, MSN, Yahoo and various publications out of Australia. -

*- “**Despite opposition amid the pandemic, the Games that were postponed last year . . .But the delay has been expensive in various ways.*

Despite her slightly-ironic, yet ‘dubiously-sounding’ and irrevocable surname, she breaks down the costly losses for the Japanese very well, by category.

- “ Here are some areas where costs have grown, and where income that had been expected will not materialize.”

*Perhaps we need more like her ‘here’? - ‘**Looking forward’ to more of Your* comments and thought- provoking observations.

0 ( +2 / -2 )

Money, money, money: The cost of - and only reason for - Tokyo's pandemic-delayed - and exacerbating - Olympics

There. Fixed it.

0 ( +3 / -3 )

Thanks @ DerekGrebe 10:49am:

“There. Fixed it.” -

Interesting observation @AliciaMyers 7:10am:

We already know the people that post this news here also comment [on] everything here.”-

Do you mean the writers may also periodically make their own comments here? - It’s possible, but perhaps, more probable within the scope of those locally monitoring them from day-to-day.

To her credit, the writer has a significant resume with over 3700 articles accredited to her. Many reflect mostly objective reporting & writing with Reuters, MSN, Yahoo and various publications out of Australia. -

“Despite opposition amid the pandemic, the Games were postponed last year . . .But the delay has been expensive in various ways.” -

Despite her slightly-ironic, yet dubious-sounding and irrevocable surname, Elaine Lies has broken down the very costly losses for the Japanese people by specific categories.

“ Here are some areas where costs have grown, and where income that had been expected will not materialize.”

Perhaps we need more like her ‘here’?

0 ( +2 / -2 )

‘A super-spreader event?’

The Delta variant is just that!

The summer heat and the onus to wear masks and the rushing around will lead to lower immunity in many people...

0 ( +2 / -2 )

It doesn’t really include the hundreds, possibly thousands of businesses that expanded and start ups that have no gone bankrupt. I know someone who borrowed nearly a million dollars to start up a limousine bus service for the Olympics. He has now declared himself bankrupt and lost his house to cover the debt. I’m sure there are many businesses in this situation.

0 ( +1 / -1 )

Assuming the Tokyo Olympics 2021 is to go on, do not let the games turn into a "super spreader event"!

0 ( +2 / -2 )

One thing I do hope is that the Olympics stick to sports. I do not want to see any political agenda and demonstrations etc. Focus on sports after all this trouble.

No way! They win, they own that podium for a few moments. They have the absolute right to protest or stand solemnly as they see fit.

0 ( +2 / -2 )

Everything in this world is OKANEEEEEEEEE !!!!!!!.....

The only bad thing about it is not having it..

-1 ( +6 / -7 )

They can just carry on printing. Compared to all that has been printed and wasted before this is a drop in the ocean.

-1 ( +1 / -2 )

I would say it is more pride than money considering that the Olympics is a money losing event. Like crack cocaine to governments to hold an Olympics. I predict a strong economic rebound in Japan after the vaccination hurdle is cleared. There is massive pent up demand for everything.

-1 ( +1 / -2 )

The Olympics should return to basics with less commercialized agenda. Venues can be fixed to Athens, Greece. It would be better than a host whose money is running short, or a host whose backyard the genocide and other suppressions are underway.

-1 ( +1 / -2 )

too expensive "enjoyment" to be paid back by my grandkids...pathetic and insane same time...

-1 ( +1 / -2 )

I can see why the goverment has pushed through with the game, is it so that sport men and woman to compete at the highest level? may be, but it seems to me that the goverment have pushed on regardless of public opinion is to recoup some of the cash its invested into organising and construction of the games and buildings.

-1 ( +0 / -1 )

A month to go and barely an article about any of the events, who is competing, their back stories, what drama we may expect. The big story is and remains whether the games should go ahead. Most people won't be able to name more than a handful of competitors.

For a festival of sport supposedly about the athletes, this is an epic fail. We are paying a fortune and risking the nation's health just so that thingy can beat whatshisname when the events happen.

-1 ( +0 / -1 )

If you click on the Tokyo 2020 Olympics category, you'll see plenty of stories about events and who is competing. There will be many more to come.

A month to go and barely an article about any of the events, who is competing, their back stories, what drama we may expect. The big story is and remains whether the games should go ahead. Most people won't be able to name more than a handful of competitors.

*Be interesting to see if people remember who won the men’s 100. That’s usually the most “famous” event, and anyone who is even vaguely interested in athletics can name at least one Olympic 100 meter champion.

I wouldn’t be surprised if that doesn’t happen this time round. A lot of the media focus is going to be on the situation rather than the events.

-1 ( +0 / -1 )

Now that is the right Headline for this spectacle.Its not „games“ in Eastasia nor „sports“, but business. On Nobel level but so bubbly especially for the construction industry.

Consider the European Soccer tournament being staged at the moment. Cost is within limits, entertainment value to hundreds of millions, well, mature society over there.

-1 ( +0 / -1 )

Lady Liberty, She is as beautiful as ever.

-2 ( +2 / -4 )

That article did nothung but spit numbers. It said nothing so I will forget what companies agreed to pay and insurance and just grab the biggest number 15.4 Billion.… omg lol

ok ready… $110-120 USD per resident. Boom. Unbelievable. My mind is blown. This will take centuries to repay! Or a month worth of international tourism.

-3 ( +1 / -4 )

Is it Japan or just the media has an issue with orders of magnitude,

125,000,000 people in Japan. Remember that and use it as the denominator for everythung you see reported.

omg, 10,000 medical professionals, oh wait that is one in 1 in 10,000 of the population

1% of the country are registered nurses…. Thats 1,250,000 nurses

20,000 tests in a day… Japan is testing 0.02% per day

QUIZ - What is the impact of the olympians relative to the population of Japan? To Tokyo?

-3 ( +1 / -4 )

It's not that much money when you consider Japan's national debt (12T USD). Plus they can print their own currency.

It's just really bad luck this whole pandemic that's ruined their Olympics.

-4 ( +7 / -11 )

One thing I do hope is that the Olympics stick to sports. I do not want to see any political agenda and demonstrations etc. Focus on sports after all this trouble.

-4 ( +2 / -6 )

Send the bill to China and China apologists who point the finger at everybody but China for the pandemic.

-4 ( +0 / -4 )

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