Name: How The Tokyo Olympics Became The Most Expensive Summer Games Ever | So Expensive
Uploaded: 2021-04-15T07:27:29.000Z
Duration: 7 min 7 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Tokyo's 2020 Olympics are already the most expensive summer games ever.

Adverbs of degree

And that's before the games have even taken place.

Adverbs of manner

The Japanese public is largely against them in the midst of a pandemic.

And there's no guarantee they will happen at all.

Now, the city of Tokyo, the International Olympic Committee,

and athletes themselves are bleeding cash.

money is stretched a little thin right now.

But the problems run deeper than the delay.

So what makes the Tokyo Olympics so expensive?

When Tokyo won the bid for the Olympics in 2013,

Today, expert estimates run to $26 billion.

The National Stadium is meant to be the site

as well as track and field events and soccer.

It was a financial disaster before a single brick was laid.

Japan hired star architect Zaha Hadid for the design.

But cost estimates quickly ran well over budget.

And when the price hit $2 billion, the plan was scrapped.

from every single one of Japan's 47 prefectures.

The design of the gymnastics center basically didn't change,

So, the yen's depreciation means import costs are much higher.

So that also gave rise to the additional cost

With eight new venues and 10 temporary ones,

There's a plaza for badminton and pentathlon,

an aquatic center for swimming and diving,

and of course, the canoe and kayak center.

Each and every one of them, for which data exists,

a number of factors made Japan's expenditures worse.

the construction of 21 buildings in the Olympic Village

by selling apartments to the general public

increased operational costs by another $1.6 billion.

Tokyo covered maintenance for all venues,

ramped up security, and paid to rent the Olympic Village

Lots of stadiums and some sports players' housing,

those are just left empty without being utilized.

probably it's better the games will be canceled,

However, the companies have a different view.

they definitely want to hold a games this year.

but maintains requirements on venue sizes.

The IOC has an interest in getting the best show,

And they're actually not too concerned about costs.

Nearly three-quarters of the IOC's revenue

comes from selling these rights to broadcasters like NBC.

featuring hundreds of performers, laser light shows,

fireworks, and the lighting of the Olympic cauldron.

Those events in Tokyo have an expected cost of $118 million.

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How The Tokyo Olympics Became The Most Expensive Summer Games Ever | So Expensive

pandemic

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revenue