The Games budget spiralled dangerously out of control a few years after Japan was awarded the event in 2013. The escalating costs meant other cities hoping to stage future Olympics were discouraged from doing so, leading to Rome, Hamburg and Budapest pulling out of the race to host the 2024 Olympics. “What we want to avoid is over-deliver and under-consume,” Olympic Games Executive Director Christophe Dubi told reporters. “We have another year and a half and we will systematically look at solutions that do make sense from an experience and an economic standpoint.”
Welcome savings: Tokyo’s overall budget, after several revisions, now stands at $12.6 billion, of which $5.6 billion is the organising committee’s budget for staging the Games. The IOC contributes some $1.7 billion in cash and services to the organising committee. Muto said savings were being made by holding shorter test events, cutting lease periods and also in construction costs. “Construction has been reduced, lease periods have been reduced, test event savings and several other items which include energy, power, telecommunications, basic facility construction which was costly but through negotiations… the specifications have been readjusted,” Muto said.
The IOC welcomed the savings, saying more should be done to make sure the Games budget is balanced or even profitable for organisers. “I know that you will continue to pursue savings right until the end of the closing ceremony,” John Coates, who heads the IOC’s coordination commission on Tokyo, said, “So the budget is balanced or with a surplus.” Muto said most of the test events for the Games had been planned, with the swimming test event dates st8ill to be decided. “It is almost finalised,” he said when asked about swimming. Completion of the Olympic Aquatics Centre, which will host swimming and diving events, was recently pushed back by two months but organisers said it will be ready well in time for the Games in July 2020.
Published in Daily Times, October 10th 2018.
In the words of Allama Iqbal, "Power is more divine than the truth." Yet, for…
For the era of distressed tidings around us and the associated stalemate, no one quote…
India's consistent betrayal of promises to Kashmiris and blatant disregard for UNSC Resolutions on J&K…
ISLAMABAD/LONDON: One of Britain’s senior most and respected Consultant Paediatrician, Professor Abdul Rashid Gatrad…
Recently, the US has imposed sanctions on many corporations. Three of the 12 companies…
Coke Studio releases the sixthsong from Season 15, Chal Chaliye, bringing the inimitable vocals of…
Leave a Comment