Japan at the expense of the Olympic Games

KATHMANDU: JULY 29 – Many efforts are being made for the power nation to show its potential, prosperity and prosperity. But it is the World Cup and the Olympic Games that are universally accepted on the world stage and attract the attention of the world. The organizers have been using the Olympics as a platform to show off their country’s pride. As of 2000, the Olympic project has become a matter of prestige.

But sometimes, when there is an unexpected problem, the project becomes a dead end. The same thing happened to Japan, the host of the recent Tokyo Olympics. Due to the Corona epidemic, the competition was held one year later than the scheduled time. The order has not stopped yet.

However, thousands of athletes from around the world are now competing for medals in Japan. China, Japan, USA are competing for the top spot in the medal table. But this time around, for host Japan, it has been claimed that the Olympics could affect the country’s economy. According to various reports, the huge increase in spending has put a strain on Japan.

Japan is grappling with spectacular competition and the impact on tourism and the Corona epidemic inexpensive sports events such as the Olympics. Due to strict health protocols at the Tokyo Olympics, the budget for this year’s Tokyo Olympics has also been drastically increased. In addition, overall expenditure has also increased.

According to reports, Coronavirus has cost Japan an additional 2.8 billion dollars a year. Of these, more than two-thirds have to be spent through public funding. According to Japan, the cost was already considered high. In 2013, the Olympic Games were allowed in Tokyo, the capital of Japan. It was estimated to cost 7.3 billion dollars at the time. But so far, the Japanese media has claimed that it will cost four times more.

In 2019 alone, the revised expenditure was estimated at 12.6 billion dollars. According to Japan’s National Audit Board, the final cost of the Japan Olympics is said to be 22 billion dollars, but the chances are slim. According to Japanese economic newspapers Nikkei and Asahi, the final cost of the Olympics will be 28 billion dollars. According to a 2016 study by Oxford University, the cost of hosting the Olympics is higher each time. As estimated in 1976, 720 per cent more budget was spent than that.

At the 1992 Olympics in Barcelona, ​​76 per cent more was spent than was planned. The 2012 Olympics cost 15 billion dollars. The 2016 Rio Olympics cost 352 per cent more. A total of. 13.7 billion dollars was spent on the Rio Olympics. The Tokyo Olympics run until August 8. According to an Oxford report, the cost of building a reputation is truly historic. According to the university, the estimated cost of the Olympics has increased by 172 per cent since 1960.

The 2014 Winter Olympics in Sochi, Russia, cost 289 per cent more. At the time, 21.9 billion dollars had been spent. This time the final expenditure details are yet to come. However, various studies have shown that the cost of the project has increased significantly as the importance of the Olympics has increased.

Photo courtesy: Tokyo Olympics 2020