Rome chose to pull the plug on bidding to host the 2024 Olympic Games due to rising costs, and now the organizers of the 2020 Tokyo Olympics are running into the same financial issues that concerned Rome.
According to a report from Yahoo! Sports, a group of Japanese experts, under the direction of new Tokyo governor Yuriko Koike, looked into the full costs of hosting the Olympics and came up with a sum of over $30 billion.
In response, Koike directed the organizing committee to look into cost-cutting measures. “We cannot impose the negative legacy onto the Tokyo residents,” he said, according to the Yahoo! report.
Since Tokyo won the bid to host the Games in 2013, the expected cost of hosting has skyrocketed, particularly after Sochi spent a reported $51 billion on the 2014 Winter Games.
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