Cost of 2020 Tokyo Olympic ceremonies up 40%

Cost of 2020 Tokyo Olympic ceremonies up 40%

The 2020 Summer Olympics officially known as the Game of XXXII Olympiad and commonly known as Tokyo 2020, is an upcoming international multi sport event that is schedule to take place from 24 July to 9 August 2020.

The price of the opening and closing ceremony for the 2020 Tokyo Olympics has risen about 40 percent.

Toshiro Muto, the chief executive of the games, told executive committee members on Friday the cost of the ceremonies would be finish at ¥13 billion (about $118 million).

Tokyo estimated that cost at ¥9.1 billion (about $82 billion) in 2013, when it was awarded the games.

Despite the increase, Muto said the privately funded operating budget of ¥600 billion (about $5.5 billion) would be unchanged. He said there was a reserve fund for such increases.

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

Overall, Tokyo is spending at least $20 billion to ready the city for the Olympics. Excluding the operating budget, the rest comes from the national, municipal and regional governments.

Mansai Nomura, a renowned actor in traditional Japanese theater, is the chief creative director for the opening and closing ceremonies of the Olympics and Paralympics.

 Tickets will be sold through 40,000 shops in Japan and by mail order to Japanese addresses through the Internet.

 International guests will need to visit Japan during the sales period or arrange for tickets through a third party, such as a travel agent.

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