Japan Isn't Good At Estimates, 2020 Olympics Could Cost $30 Billion

Japan Isn't Good At Estimates, 2020 Olympics Could Cost $30 Billion

What was supposed to be an apocalyptic 2016 Rio Olympics, full of killer mosquitoes, police officers with inappropriate signs, and water that made you feel

Sep 30, 2016 by Adam Oestreich
Japan Isn't Good At Estimates, 2020 Olympics Could Cost $30 Billion
What was supposed to be an apocalyptic 2016 Rio Olympics, full of killer mosquitoes, police officers with inappropriate signs, and water that made you feel like the witch from "The Wizard of Oz," has come and gone. And for the most part, if you overlook the whole Ryan Lochte fiasco, everything was fine.

Hooray. 

On to the next one, as Jay-Z would say.

The 2020 Summer Olympics in Tokyo are roughly 1,400 days away -- way too early to start worrying about any problems that may occur right?

Right, Tokyo?

Well…

Back in 2013, when Tokyo was awarded the 2020 Olympics, it estimated a $7.3 billion bill for everything that would go into hosting the world's greatest sporting event.

On Friday, an expert panel set up by Tokyo's newly elected governor said the price tag for the 2020 Olympic Games could exceed $30 billion.

Oops.

The Associated Press has a full breakdown of the rising costs for the 2020 Olympics, but let me highlight two for you here:


The National Stadium:

Tokyo planned on building a brand new stadium to hold opening and closing ceremonies, as well as the track and field portion of the Olympics. But after a series of problems, including the death of the Iraqi-British architect, the stadium would end up costing around $2.65 billion, double the original forecast. The Japanese government scrapped this project and approved a new plan for a stadium for a more conservative $1.5 billion. Construction is set to begin this December and end November 2019.

For those at home, November 2019 is like 1,100 days from now. Cutting it kinda close you guys...

Soft Costs:

After looking at estimates of the 2012 Olympic Games in London, the new panel suggests the following: $2 billion on transportation, $3 billion for security, $6 billion for energy and technology, and $5 billion for operating costs. 

I'm not great at math, but that sounds like it adds up to more than the original $7.3 billion bid.

And then, of course, you throw in unforeseen costs into consideration like earthquake prevention and measures to counter the extreme heat in Tokyo, and we arrive at $30 billion.

FUN FACT: ​In July 2015, Tokyo organizing committee president Yoshiko Mori estimated the games might cost around 2 trillion yen, or $20 billion, more than doubling his first unofficial estimate. 

Whoa!

I'm not great at math, but you're looking at like a $500 billion Olympic bill by 2020, Japan. Start saving those yen!

Again, we are 1,400 days until the 2020 Olympic Games, and everything is going to be fine. But, I don't know, if you are a country looking to host future Olympic Games, maybe come up with a bid estimate and then triple it and add a zero or something. 

Am I right, Rome?