Dubai, United Arab Emirates (CNN) – The Tokyo 2020 Organizing Committee announced on Tuesday that its budget for the upcoming Games is $ 15.4 billion, including the costs of postponement and additional countermeasures taken in light of the Corona pandemic.
This is up from previous budget projections of $ 12.6 billion.
Speaking with reporters on Tuesday, Tokyo 2020 CEO Toshiro Moto described the additional costs as a “positive investment” and said the games would be a “role model” for major international events during the pandemic.
All 68 Olympic sponsors have agreed in principle to extend their agreements until 2021 and may combine sponsorship and additional support, according to Mutu.
Moto also added that some estimates expect the games to generate between 4 and 5 trillion yen, or between 37 and 46 million dollars, in economic activity in Japan.
Mutu reiterated that the details of the session, including the size of the celebrations, the number of foreign spectators and measures to prevent the virus, will be determined this spring.