Tokyo Olympics to cut $380m in cost
The cost of the delayed Tokyo Olympics will be slashed by US$280 million (S$380.5m), organisers said yesterday, touting a scaled-back, less flashy Games, with cuts to everything from staffing to pyrotechnics.
But the final cost of the event - officially budgeted before the pandemic at US$12 billion - remains unclear because additional expenses caused by the postponement have not yet been made public.
"Tokyo 2020 believes that this work will help to create a model for future global events including forthcoming Games amid the new normal in which we now live," organisers said. - AFP