Tokyo Olympics: Costs hit almost $25 billion -- may go higher

TOKYO (AP) — The price tag keeps soaring for the 2020 Tokyo Olympics despite local organizers and the International Olympic Committee saying that spending is being cut.

A report just released by the national government's Board of Audit shows Japan is likely to spend $25 billion to prepare the games, and the final number could go even higher.

This is nearly a four-fold increase over Tokyo's winning bid in 2013, which the report said projected costs of 829 billion yen, or $7.3 billion at the current exchange rate of 113 yen to the dollar.

Tracking Tokyo costs is getting more difficult as work speeds up, deadlines near, and disputes arise about what are — and what are not — Olympic expenses. Complicated accounting also makes it difficult to figure out who pays for what, and who profits.

Read more: https://rapidcityjournal.com/news/world/tokyo-olympics-costs-hit-almost-billion-may-go-higher/article_67426fa4-da53-5870-a0b5-10af288603ba.html