The Tokyo Olympics are already the most expensive Summer Games on record with costs set to go higher, a wide-ranging study from Britain’s University of Oxford indicates.
The Tokyo cost overrun already exceeds 200%, lead author Bent Flyvbjerg explained in an interview with The Associated Press. This is even before several billion more dollars are added on from the one-year delay from the COVID-19 pandemic.
Flyvbjerg is an economist at Oxford’s Said Business School. His entire study is available here, and it’s set to be published on Sept. 15 in the journal â€œEnvironment and Planning A: Economy and Space.” It’s titled â€œRegression to the Tail: Why the Olympics Blow Up.â€
Tokyo, postponed until July 23, 2021, is only a small part of the focus. The study â€” the third in a series following editions 2012 and 2016 â€” looks at Olympic costs since 1960 and finds they keep increasing despite claims by the International Olympic Committee that costs are being cut.Read Click On Detroit
Oxford study: Tokyo Olympics are most costly Summer Games