Tokyo Olympics: Cost of opening/closing ceremony up 40 per cent

TOKYO (AP) – The price of the opening and closing ceremony for the Tokyo Olympics has risen about 40 per cent according to numbers released by the organising committee.

Chief Executive of the games Toshiro Muto told executive committee members yesterday that the cost for the ceremonies would be capped at 13 billion yen, about USD118 million. Tokyo estimated that cost at 9.1 billion yen – about USD82 billion – when Tokyo was awarded the games in 2013.

Despite the increase, Muto said the privately funded operating budget of 600 billion yen – about USD5.5 billion – would be unchanged. He said there was a reserve fund for such increases.

Muto said, “Using London Olympics spending as a model, I think this is the minimum we need to spend to get the job done.”

The organising committee said last year that Mansai Nomura, who is a renowned actor in traditional Japanese theatre, would be the Chief Creative Director for the opening and closing ceremonies of the Olympics and Paralympics.

Overall, Tokyo is spending at least USD20 billion to ready the city for the Olympics. Excluding the operating budget, the rest comes from the national, city and regional governments.