Covid-19 Adds $2.5 Billion to Tokyo Olympics Bill

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Covid-19 Adds $2.5 Billion to Tokyo Olympics Bill

TOKYO—Next summer’s Olympics in Tokyo will cost at least an extra $2.5 billion because of the Covid-19 pandemic, event organizers said.

The International Olympic Committee and organizers in Japan say they are confident the Games can go ahead in July after a one-year postponement, but costs have been piling up and opinion polls show the Japanese public would prefer a further delay or cancellation.

Japanese Prime Minister Yoshihide Suga said Friday that leaders around the world have told him they supported his determination to hold the Olympics “as proof that humanity has rallied together and defeated the virus.”

The Japanese organizers have now put a figure on new costs to host the event. Those include fees to rebook facilities and pay additional wages of staff, as well as virus testing and other measures at the event to prevent the spread of the coronavirus.

Costs directly related to the delay are expected to total around $1.5 billion, around half of which will be covered by event sponsors and insurance payouts triggered by the delay, Tokyo 2020 Chief Executive Toshiro Muto said.

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