In the face of pressure and cost-cutting pressure as the International Olympic Committee fears that an increase in institutional prices will prevent countries from hosting the sporting event, the 2020 Tokyo Olympic Organizing Committee said, substantial budget to meet the requirements of stakeholders.
Tokyo 2020 Olympic Organizing Committee Chief Financial Officer Hidemasa Nakamura announced that it would continue to cut organizational costs, especially in terms of transportation, accommodation, and security.
Accordingly, the overall budget for sports is currently at 1,350 billion yen (about 12.6 billion USD), and this figure is down 1.4 billion USD compared to the budget announced a year ago and 0.3 billion USD compared to the unified figure in May 2017.
Experts once warned that the total cost of organizing the Tokyo 2020 Olympics could exceed 25 billion USD, while Japan previously estimated to spend only 7 billion USD to organize this event.
For his part, Prime Minister Shizo Abe rejected plans to build stadiums for the Olympics, as people reacted to excessive cost increases.
According to the media, the cost to build the new main stadium for the Tokyo 2020 Olympics is likely to increase the team to 250 billion yen instead of 162.5 billion yen as expected. Culture, Sports Science and Technology Minister Hakubun Shimomura has announced the plan to amend the plan to build the Tokyo Olympic Stadium 2020.
According to the media, the Japan Sports Development Center (JSC) and the infrastructure construction units have negotiated the adjustment of construction costs, making public opinion many times. Former Mayor Masuzoe Yoichi once asked the Ministry of Culture, Sports, Science and Technology to disclose the total cost and elaborate on the process of building the new stadium.
According to the construction plan based on the design of Iraqi-born architect Zaha Hadid, who won the highest award in the JSC international competition, the total cost has increased significantly. And according to the explanation, the main reason why the team budget came from the giant bow-shaped dome of the stadium.