The 2020 Tokyo Olympics are going to cost far greater then suspected. It’s now projected that these Olympics will cost $15 Billion in U.S. Dollars to be completed, this is six times greater then their original estimate. This news has shocked all of Japan and has caused for its citizens to wonder as to whom will pay for this increased projection.
The answer is the taxpayers themselves, taxes will rise by an astonishing amount for the next four years within Japan. National & Local taxpayers will be effected. The revised estimate of 1.8 Trillion Yen (15 Billion U.S. Dollars) was revealed last month and ever since then it has caused for anger throughout various communities. So much so that security has been amplified around the areas where 2020 Olympic Structures are being built.
The media is trying to make it clear that the reasoning for this increase is due to a higher cost in infrastructure, renting the land, additional security measures and more. De-construction is also a factor as well. The media has also noted that the 2020 Tokyo Olympics has provided thousands of job opportunities for the people of Japan & when the Olympics are at their doorstep, the economy will be boosted like Japan has never seen before.
Tokyo has had a number of hurdles while constructing for the 2020 Olympics. The most notable was a new stadium design that had never been seen before had been greenlight, only until immediate rising costs made it impossible to have a design such as that one. A more normal design has now been chosen to save money.