Postponement of Tokyo Olympics for COVID Pandemic to cost Japan $2.8 billion

The postponement of the Tokyo Olympics from 2020 to 2021 due to the COVID-19 Pandemic is going to cost Japanese a whopping $2.8 billion. The much awaited Tokyo Summer Olympics was scheduled to be held in Tokyo in July this year but it had to be postponed for the first time in its 124-year modern history due to the Covid-19.

Tokyo Olympics Organizing committee CEO “Tokyo’s costs are Tokyo’s costs. Tokyo 2020’s (allocation) is revenue that we can secure. Within this revenue we have additional sponsorship that we have requested from partners and we also have insurance.”