Thomas Bach the president of the International Olympic Committee, this week expressed optimism for a glorious Summer Games this year in Tokyo, where the world, in his view, will reunite after defeating the coronavirus pandemic.
Yet nine months after the IOC and organizers in Tokyo agreed to postpone the 2020 Summer Games for one year, the level of uncertainty surrounding the event has hardly waned, despite the fact that hopes for a successful Olympics have never been higher.
Will Japan open its borders, which have been largely closed since April, and allow the friends and families of Olympians, or any fans for that matter, to attend the Games? Will the Olympic Village, where most of the athletes and support staff usually live during the Games, function as a kind of bubble, with access to the city cut off? Will athletes have to quarantine either in their home countries ahead of the Games or in Japan once they arrive?
Japan has spent more than $12 billion preparing for the Olympics, although some estimates have put the actual figure at roughly $26 billion, including infrastructure projects. Postponing the Games for a year has cost organizers more than $1 billion. The IOC doubled its contribution to Tokyo organizers to $1.6 billion, to help cover the costs.
The overall budget includes $800 million from sales of some 7.8 million in tickets. For a typical Summer Games, overseas customers can account for about 30% of ticket sales. It's hard to predict just how much financial loss Japan will suffer with a lack of overseas travelers to the Olympics.
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