How The Tokyo Olympics Became The Most Expensive Summer Games Ever | So Expensive
HTML-код
- Опубликовано: 5 июл 2024
- Before the Tokyo 2020 Olympics were delayed a year by COVID-19, they were already the most expensive summer games. Experts estimate they will cost more than $26 billion. The extra year added at least another $2.8 billion. There's still a chance they might not happen at all.
MORE SO EXPENSIVE VIDEOS:
Why Stone Crab Claws Are So Expensive | So Expensive
• Why Stone Crab Claws A...
Why Coconut Oil Is So Expensive | So Expensive
• Why Coconut Oil Is So ...
Why Sơn Mài Painting Is So Expensive | So Expensive
• Why Sơn Mài Painting I...
------------------------------------------------------
#Olympics #Tokyo #BusinessInsider
Business Insider tells you all you need to know about business, finance, tech, retail, and more.
Visit us at: www.businessinsider.com
Subscribe: / businessinsider
BI on Facebook: read.bi/2xOcEcj
BI on Instagram: read.bi/2Q2D29T
BI on Twitter: read.bi/2xCnzGF
BI on Amazon Prime: read.bi/PrimeVideo
How The Tokyo Olympics Became The Most Expensive Summer Games Ever | So Expensive
2013: Tokyo: ''I won, suck it Madrid and Istanbul''
2020: Madrid and Istanbul: ''We dodged a massive bullet''
Japan: we caught it but i have a price to pay
Tokyo: I won, but at what cost?
If only covid hadnt happened. I was darn excited to see how they would efficiencize the olympics like they had said they would. Huge huge bummer
@@daemonace5910 Covid messed up the whole world and not just the Olympics😢
Thinking whether the pandemic will last long enough to affect Paris 2024 as well
probably the saddest olympics ever...pandemic, budget overrun, lack of domestic support, and no foreign spectators allowed...
At least it's in a wealthy country this time that can handle cost overruns. Compare this to Rio spending billions and tearing down people's houses without adequate payback
@@RobinClower Do you really think Japan, which has one of the world's largest government deficits, will be able to afford such a botched Olympics?The Olympics were a gamble by the government to boost the potential of the Japanese market, but it failed miserably.
@@jutea9858 Japan’s debt is a more of a healthy debt , not a Greece debt. It’s much like USA.
There is a difference
You got a good point !
@Dan2314 Wonderluck Ok Dave.. I mean Dan..
They should just build one giant man-made island just for the olympics, and every country can contribute something to it. That way, all the olympic buildings won't go to waste.
That would be freaking cool
You’re on to something!
Actually that's good idea. Every time games are held countries cry out of over budget. Why to prepare a new venue every 4 years? Better prepare one at a neutral venue and re-use it for different games - Olympics, common wealth, Asian games...
yes but then no politician could turn this into "their" succes. Joint projects don't benefit any politician's image, and their political party will not be able to accreddit this to their own success and rightdoings. The Olympics have always been a show-off of political power and nationalism, not of sportsmanship and team spirit. Unfortunately.
@@NoctLightCloud I don't think people buy that argument now. They consider it just waste of money and resources. That's why we see people protesting against hosting games so many times.. Be it Japan 2020 or Rio 2016..
I honestly agree with either having the olympics set to a manmade island forever, or permanently moving it back to its home- Greece. I looked up Mount Olympus's weather and there is no doubt it was straight up destined for the Olympics. It experiences extreme heat in summer and heavy snow in the winter. The altitude and shape is insane, but it would be cool to have the facilities situated at the foothills.
Not to mention the cultural significance, basically carrying the spirit of ancient Greece.
extreme heat is not a good weather for good performance
@@thekyuwa depends on the arenas they create
@@skmatrix4608 but there are many disciplines to be played outdoor, so rip...
If only the greek government knows how to handle and maintain their olympic facilities :(
Japan: "Every project is over budget"
Brazil: first time?
they hosted couple of olympics and was in 1939 but got cancelled cuz of ww2
Laugh in Greece
Japan is the third largest Economy in the world.. while Brazil is not rich nation..
@@paul5475 japan is the most indebted country in the world tho.
@@paul5475 we are in G20 (top 20 world economies, just like Japan lol) as well though.
Honestly, I wouldn't be opposed to a massive cost reduction and reimagining of the Olympics. Why keep building stadiums that will only be used one month and then chucked? Hold it in cities that already have these facilities. Enough is enough.
Just have them in Greece every single time. It started in Greece so that way The country can benefit from it every 4 years. Make the Winter Olympics in Switzerland every year since no country ever has a problem with Switzerland.
@@shaneviola8848 London was an exception to this. The main stadium is now West Ham FC I think, the Aquatic Centre is a local pool. Some of the other facilities I think are rentable and/or used for what they were?
@@shaneviola8848 such a simple concept that would solve all the problems. Except for those in the olympic committee that get bribes to choose certain cities and contractors, so it'll never change
A massive cost reduction is possible if they really want to do it. Japan just hasn't got the sort of strong leader who can put his foot down and insist on just that for sanity's sake.
@@4evertrue830 still would be a massive cost for each city. There's no cheap way to build an aquatic center, and they become useless after the games
The most expensive Olympics that people in the world can only see on their tiny tv lol
Of which corporations pay MILLIONS to advertise. So they don't give a shit. Olympics are always a more televised event than a live event.
Permanent Olympic locations should be selected.
I would hope that Romania is among those countries! :)
LA, NYC, Toronto, Sydney, Barcelona/Madrid, Paris, London, Milano/Cortina, Tokyo, Calgary, Salt Lake City, Innsbruck, and Athens are all just a few cities that would make a great list of permanent hosts to cycle through. There's definitely more potential host cities that I haven't mentioned though.
@@gabetalks9275 I vote for Cluj-Napoca, Romania. One of the most peaceful and historic cities in the world!
@@alinaross1008 Unfortunately, being historic doesn't mean anything. Does it have the infrastructure and sustainability? Because only major international cities have that. I doubt Romania has that.
@@gabetalks9275 Cluj-Napoca is considered among the cultural capitals of Europe and one of the largest growing cities. It also doesn't have the large immigration wave and issues of Western Europe. With its growing infrastructure and peaceful pillars, I think it is the next exciting promise of the Olympic Games.
I feel the olympics should just be held at one place or hold the IOC accountable for the costs rather than hosting country
Make it in Greece where it originated. You can even make it every year that way they could generate more money from it.
The IOC will go bankrupt
It should, but then the IOC wouldn't get their bribes to select the chosen cities. It's all about greed
The sooner every country start to insist that the IOC foots the bills, or at least half of it, the better.
@@TheGamer-ll2cs No the IOC won't go bankrupt, they will operate like FIFA and we know FIFA is very successful.
The Olympics aren't even worth hosting in most areas.
Agree. It’s a dated event.
except if there is Usain bolt.
its so useless!!!!!!! after the Olympics everything is abondned!
Yup, that’s why only few countries bid for the next Olympics venues/host
Old olympic really give so much profit
But now after 2010s olympic is not profitable anymore
Its actually pretty sad. Usually everyone is excited when the olympics come around, but this time i didn't even realize the games were happening. And when i did watch a football game, the stadium looked so sad with all the empty seats.
I said this to my friend lol a couple weeks ago I said "oh the Olympics starts tomorrow" and she was like is it. .??? LMAO it wasn't advertised or promoted hardly anywhere
Yeah it’s even sadder when you hear it over the zoom call
Tokyo: Every project has gone over budget
Sochi: *laughs in $55 billion*
I don't really care where the Olympics is hosted. I just read the medal results online. Spend that 26 Billion on something that will boost tourism continually, more than just a few weeks of Olympic games.
Well said! I a big fan of yours :)
Big fan Karl ji chaddi wale dukan ke owner
You read the results? Bruh that sounds so stupid You just care to see who won and not see their performance? Noice..
Yes
This is a bogus statement
The problem is not building stadium.
It's how they got deserted afterwards !
No, building the stadium is also quite bad.
@@MichaelDavis-mk4me if they are built in poor countries like Rio, then it’s a problem
@@jeffali5157 Or a rich country like Canada where companies make corruption to drive the price of the stadium up so they can make crap loads of money.
@@MichaelDavis-mk4me if it was a rich country, they can still reuse the stadium after the olympics as a big museum or shopping mall. That’ll be much more profitable
Research London's post-olympic plan, that is how it should be done
Basically, these games cost every Japanese person about 220$.
But concentrate that into the Tokyo taxpayer population
way more, way more...
That’s not much
@@NoSleepTil666 If you account for children who don't pay (income) taxes and the poor where 200$ is a lot of money, it is a lot. They could have built many miles of train instead.
Not much is it? Brisbane games in will cost each Aussie WAY more than that.
I feel sad for Japan, they wanted to host the Olympics because of their dwindling tourism then pandemic happened
Tourism in Japan isn't dwindling before the pandemic...in fact, they are 3rd most visited country in ASIA next to China & Thailand
True sad for Japan Covid has spoilt so many things
Feel sorry for their victims in Unit 731, Nanking, comfort women, etc... they will not go bankrupt as they will not spending much on the Olympic foreigners. Hence, look at their cardboard beds. Ffs.
@@jesslovely5365 Stay mad
@@jesslovely5365 where are you from so I can start rambling about your countrys warcrimes randomly.
We should just have the Olympics in Greece, near Mount Olympus. Its part of Greek Culture lets just have it in the same place and it will be cheaper and bring money to poor Greece
Greece bankrupted itself, pouring more money into it is not going to help.
Pouring more money won't anything
@@rhaegartargaryen9315 Its cheaper because you can build one facility and reuse it for 50+ Years. Instead of spending $26 Billion in 1 year it would cost $520 Million a year not including maintenance.
Greece become lazy
The IOC should be forced by all the governments of the world to cover all construction and maintenance costs to build all venues necessary to hold every world championships and Olympics in Athens *IN PERPETUITY*
Why do I feel like every year we have this kind of video and we don't still learn from it
Yea lol, it’s just like that Rio video
@@WangMotions stop 😭😭🙈
Japan thought they could make it work. Before covid came into the picture though.
It’s because the politicians who approve the bids for construction are getting compensated. Everyone knows that winning the chance to host the olympics is a horrible Idea. The IOC requirements for infrastructure will put the economy into further debt.
Nah, that was just Rio. It feels like “every year” because the olympics don’t happen that often. Rio was already in a bad spot economically, so it was pretty easy to predict that hosting the Olympics wouldn’t necessarily improve that. Japan probably could’ve endured the cost.. before Covid.
Why don't they keep these places open to the public as places for sports and activities?
Upkeep will cost so much more than whatever revenue they will get
Here in Vancouver, Canada, the stadium is open (one of them anyway) & running with activities (swimming lessons, yoga, etc…)
@@elliotwalker3080 I hope so. Canada spent close to $2 billion to host the Olympics, it's going to be a shame if it can't keep some of the venues open.
They often do. Depends on the country. Tearing the place down after use is actually an outlier.
Everyone here being logical and saying we should have one centralized location for the games but you forgetting something... It's 2021 and logic and common sense doesn't exist.
Having Olympics in a country is considered as huge investment. The actual point of it is tourism and it'll 100% boost economy. (sucks for Japan because of pandemic). But that's why countries bids for it.
It's going to be bidding war if what you're suggesting happens.
@@0111mango true
A centralized location would only be logical if the entire Olympic system was restructured and even then there would be a huge fight about where to put it. The idea that it would just default to Greece is ludicrous, which I know you didn’t propose but many have. Building a man made island could work, but again, where. It would almost by necessity need to be near a coastline so fishing would be heavily disrupted and whose coastline would host it would be a fight. The truth is that for many countries/cities the olympics have been quite lucrative, but those places are almost always in countries with stable economies to begin with and this particular games was just a perfect storm of terrible luck and circumstance.
Imagine the lost costs of tourists, too. Those people would’ve been in hotels or AirBnb, eating at restaurants or shopping in grocery stores, buying merchandise, using public transportation, visiting tourist traps, etc. not to mention the lost tourists who would come and see the city after the games. I personally know people who went on vacation to Vancouver because it looked so beautiful during Olympics coverage. The trickledown impacts will be felt for years to come.
I was exactly thinking the the same thing...
These Olympics though are quite Expensive , but if price is controlled, bring in a lot of revenue through tourists, after sales etc even after the event has ended....
But still at best that would boost their economy by 8-9 billions in a short period...
After that they would have a huge job ahead of recovering the second half through sales of Apartments, tourism etc
I don't think Tokyo needed much more publicity on the tourism front given that it's already in the top 5 most visited cities on earth. I agree there's probably some tangible tourism benefit from hosting the Olympics but it's probably inversely proportional to how well the city/country was doing as a tourist destination prior to the Olympics.
I also question the longer term benefits of this tourism boost vs investing in other promotional (and arguably cheaper) methods of boosting tourism such as building new infrastructure or investing in tourist attractions. For example, I don't think Montreal gets much tourism anymore from their 1976 Olympics and the Olympic stadium is still costing them money and headaches as to what to do with it.
Tokyo doesn't need the Olympics to promote tourism. It can do it without them, the Olympics only add a few couple hundred thousands to 1 million but that is literally almost it and for just short time. Plus its good for Tokyo to avoid being label as a tourist trap for years to come
Gilgamesh you must be dumb if you think the olympics would only add a million. Tourism in japan is huge and if it’s the Olympics, there would be so much revenue in every sector
You don’t want to vacation in Japan during the summer. It’s miserably hot, muggy, and rainy
Why is it that the host country burdens all the cost then here comes the International Olympic Committee claiming the most of the profit?
I think a big reason we’re overlooking is the gain in tourism these countries get by hosting. Personally I love Japan and watching the Olympics, so when I heard about Tokyo 2020 I was set on going. It’s a shame for everyone really.
@@cass416 But the Japanese are known to be unwelcoming to visiting tourists. You think that will change with the olympics, i doubt it. Their govt do not accept dual citizenships.
It’s a scam but Japan has that Nintendo money so they good. That Italian plumber got Kay’s for days
@@openmind2546 Usually countries do make stacks of money from hosting the Olympisc however you have to be a fairly developed country like Australia, USA, UK, etc Because those countries don't need to spend much money on facilities and infrastructure because they already have it. The games produce international tourism and support local jobs. However not in this case because of covid but in general hosting the Olympics is worth it only if you are a developed country.
cuz it's a scam
Still, I'd like to thank Japan for their dedication and hard work to make this Olympic happen ❤️
1:19 out of all the photos you could have gotten of this man, you got he one where he looks like he just got out of bed LOL
OMG LOL
Now i feel bad for the guy xD
I had to rewind it to see that they weren’t just talking about some guy
Exactly 😂
Yes,this is going to come in my history exam tomorrow. I should watch this.
@@boockyeagle447 on a scale of 1 to 10 - 8
Nice
I think this is as important as your history exam.
The Japan government and IOC ignore voices of Japanese people and the efforts the international community have made thus far to control COVID. Voycott Tokyo Olympics.
“Cancel Tokyo Olympics” even if they wanted to they probably couldn’t, everything has been set and planned and a lot of venues have been built
Exactly. Best case scenario, make it so that tv broadcasters need to pay money to broadcast the olympics
The Japan government and IOC ignore voices of Japanese people and the efforts the international community have made thus far to control COVID. Voycott Tokyo Olympics.
exactly. They cant cancel it anymore
They start building Olympic village 12 years before
Cancel because of health reasons. Bringing people from all over the world and having them in one spot makes it a perfect breeding ground. Especially since Olympics athletes aren't really famous for "social distancing".
Someone’s probably mentioned it, but we should just hold the summer games at mount Olympus every year, it would be way cheaper to just build the facilities once and maintain them; and honestly imagine the cool ass buildings we could make if we just put in the extra money just once, like we could do the stadium in Ancient Greek architecture and such.
I don’t understand why people put this idea forward…almost no other country would allow it, because most places consider it an honor, let alone the IOC due to broadcasting rights issues, the greedy bastards. Besides it’s not exactly like the Olympics of today even faintly resemble the games of the past. Nor does it seem likely that Greece would even want to be responsible for building and maintaining the facilities required without massive outside investment. And to be perfectly honest, it’s not fair.
1:18 did you wake him up to take a picture?
After the event is done they should redo the interior and convert it into a mall or even apartments instead of living it empty or barely used after.
Tokyo is one of the biggest international cities in the world. It'll definitely be used afterward.
@@gabetalks9275 yeah? remember Brazil olympics? check the instalations now.
@@kahdkjasoigfuoiywi Rio is no where close to Tokyo's level. Japan is the world's third largest economy. Rio is just a major city in a borderline third world country. They're in two completely different stratospheres.
That's a great idea, Nathan! Make it a landmark too! :))
@@gabetalks9275 it won’t. It’s too expensive in general and wasn’t required.
It's pretty crazy that in an era of "environmental responsibility and sustainability" the wastefulness of the Olympics still stands as acceptable. Don't get me wrong, I love the Olympics but we need a neutral site that keeps getting reused or lowered standards that allow for existing sites to be used.
Like celebs lecturing us about pollution and global warming while jetting around in private jets
Someone said to me yesterday that as recompense for the situation, which out of EVERYONE’S control, the IOC should award the 2036 games to Tokyo, no questions asked.
This sounds interesting.
Why? Is Tokyo even interested to host it again?
@@EliF-ge5bu Dunno. Was just an interesting thought.
Every city says they will sell the apartments in the olympic village after the games but they always remain empty. Same happenend to Rio
The difference is that almost half of Rio is impoverished and their village is a bunch luxury condos. Tokyo is one of biggest major cities in the world in the world's third largest economy. Tokyo's will be full.
@@gabetalks9275 lol do you know it has never worked in any city the Olympics have been hosted in LA & Montreal included.
@@taz8808 LA, are you serious? LA 1984 has been long revered as one of the most successful Olympics of all time. LA has every venue necessary. Montreal on the other hand was managed extremely poorly.
here, we use the buildings to treat covid-19 patients 👍
They don’t “always remain empty” what are you talking about? Rio is not exactly a good example btw…since it’s not all that representative due to Brazil’s “issues.”
The more I see about Olympics, the more I am starting to realise that the biggest challenge is not to become a participant, but to actually prepare and build all the necessary facilities.
Actually its not a challenge to build all the facilities, the challenge is the greedy corrupt govt officials that thought nothing of keeping to the previous budget. They saw the olympics as a cash cow and decided to indulge themselves. lol.
@@4evertrue830 I actually blame the IOC for doing nothing to support the host cities, yet hogging almost all of the profits for themselves. They literally do nothing to hold the games, yet they take all the money. Their greed is insane.
@@gabetalks9275 I compare the Olympics to a franchise they've given that country a billion dollar likeness to use and I guess they think that's enough.
@@ajasadisu5188 Pretty much. They're basically holding an economic slavery campaign. Hire another nation pour out of the money, labor, and resources for you, but you take all the profit. This is why the games back in the day when they only took 6% of the profits, were not only successful, but have strong legacies to this day. Something Athens, Sochi, Rio, and Beijing could only dream of.
Heard a challenge for participants is whether the Olympics might get delayed by CoViD-19 all the way until they become too old to compete
Is that really the best photo of Kengo Kuma that BI could pull up? It looks like BI just woke him up from some sort of long nap in a dark cave.
Lmao true
Imagine 1000 Tourist buses for Olympic rented was cancelled…lots of people lost job…
I don’t really care where the olympics is hosted or if all the events are in the same location, I just really want it to continue
The 1st architect looks well dress and elegant, the 2nd architect looks like he just woke up and just went to his neighbor and said “just take the picture man, I got things to do”. 😂😂🤣
I thought they mistakenly used some random homeless man's photo lol.
@@realmongolia101 That's what I thought too.
Unfortunately Zaha Hadid died... the design looked so good but so expensive.
@@microjigging oh my, she died...RIP
@@microjigging but this is japan, they should bite the bullet really
So much value from your videos. Hands down the best channel on RUclips
Just create na island for the olympic committee to manage. They will get 100% of the media coverage revenue. The revenue will be used for the maintenance and improvement of the venues.
that would be cool, but it's definately easier said then done. during the 4 years of no olympics, who's gonna use the land? who's gonna take care of it? and even before that, which country's land are we taking? also it's hard to "just take an island", what about people already living there? and if it's an empty island, what about the nature & animals there? and how do u distribute the cost such that it's "equal"?
an Olympics island sounds so freaking cool but ig there's a reason why it hasn't happened yet
You can't create an island that easily.
@@mona-mo3sd not saying it’s easy. It’s a whole lot of possibility to consider options and be holistic in doing these events.
A pool of resource can be used from different olympic committees. Imagine having athletes from other countries use the facilities for training in each month. Tthey can do this by batch. Let them stay on the dedicated venue for a month for training. Etc. I know it’s a bit farfetched. But heck. This one is amazing if it was true. Won’t you agree?
This is not a good idea. It has to be built far into the ocean, at least 370 kilometers off the coast of any land so it is not within any specific county's special economic zone. Otherwise, who would agree to fund this humongous project?
The Palm project in Dubai cost approximately $12 Billion, and that project is right along the shore. And mind, you would have to build at least many times the size of the Palm to make it big enough to contain all the stadiums, Athlete's Village, Broadcast Center, Public Spaces, power plants, Hotels for guests, Airport, Hospital, water treatment facilities, tourism centers, shops, etc. So spending $30-$50 billion alone to build the island is perhaps a low estimate. How about the cost of the stadiums and the other buildings? The location along will add significantly to the cost because you will have to bring materials to the middle of the ocean, and build accommodations for the the workers. So another $20 to $30 Billion for development is not unreasonable.
Then you have to factor in the actual cost of running the event. Another $1 billion perhaps?
And then the maintenance which is run into the hundreds of millions every few years. And then you will have to rebuild the facilities every 40 years or so to update to current standards and to address the deterioration of the facilities built right on the ocean. And that is assuming the facilities and the Island remain after Typhoons or Hurricanes or Cyclones, depending on where you build it, pass through it.
How long will it take for this project the break even? Let's take the London olympics. If the reports are true, those games generated approximately $3 billion in revenue. Taking the minimum cost of creating the Island and the facilities, and ignoring the maintenance, the actual cost of running the games and other long term costs, it will take 17 summer games or 68 years to break even. Considering all other costs, this scheme will never see a profit.
@@EliF-ge5bu uhmm japan just spent $26billion for the event. Have you checked how mich russia spent for the Sochi winter olympics? The cost you mentioned dwarves if you sum all the expenses for both summer and winter olympics for the past 40years
This is why I'm looking forward to seeing how the Olympics in LA is going to turn out, since they already have most of the stadiums, etc. built and will just use what they already have.
better hope gavin isn't still running your state.
@@david_fl507 Out of the loop on this one (I don’t live in California lol). Why do you say that?
I always wondered why the IOC chose LA to host the games 3 times now. Other cities and countries exist...
1500usd for a PAD? These numbers are inflated just for drama
@@Zoigun because it's Hollywood? literally all foreginers when they say "I wanna go to the us" they either mean LA, Orlando or Miami, and New York City. And the people in the us that don't live in LA wanna go there so badly, even live there. Somnot only r they going to a place they wanted to go to but they also get to see the Olympics. Besides LA can actually probably afford it unlike some other places
Yes, surely this’ll come in handy for my accountancy exam tomorrow
Lmao I had my managerial accounting test day before yesterday! Good luck 👍
still sad about the perfect 2020 logo :(
2020Ne
It was soooo prefect, they even included their flag into it (the red circle). Such an unfortunate situation ☹️
@Akshara Chakilam they'll still used the 2020 and still be called 2020 Olympics games
yup... not to mention that 2021 feels like 2020 2.0. but the reality remains: this year is not 2020.
I think it was good there were no games i got to watch my cartoons😏
The olimpic games are not only expensive, the event let countries into huge depts for many decades, and let many standing structures that are useless for cities, so they are not as good as everybody says!
The London games made a profit from the games
Depends where. Not every country sinks their entire GDP into building these places then demolishes them or let’s them rot…because strangely enough, some places actually plan accordingly for what happens afterwards, which is why many former Olympic stadiums are still in use and many former apartments are rented or owned privately.
they should just have an olympic centre in each continent and rotate it. Or you know NOT build a whole new athletic centre when there’s probably already athletic venues scattered around the country. I mean everyone’s gotta train in facilities exactly like the olympic venue. Also let’s the olympians embrace the culture of each country by exploring everywhere within the country.
The Olympics have very strict rules regarding their venues, that's why a pot of countries that host build new facilities
Would be amazed if government entities ever budget correctly lol
It's easier to sell to the public if the cost seems lower. When it goes overbudget, nobody is paying attention anymore
London 2012 Olympics was under budget. the only recent one to do so I think?
@@jamesbedford7327 they all end up costing the city because you end up with a bunch of useless infastrtucture after, like 50ft pools etc
That is all the government needs honestly
The government entities* Japanese politics actually corrupted. Everyone blamed others for this and to this date, no one took his/her responsibility. It started with plagiarised logo, overpriced budget, and now the olympics is (about to be) cancelled. Yes this olympics is cursed.
Honestly of the host got atleast 90% of broadcasting ans ticket revenue they will still profit. The Olympics has took away 70% of the revenue and only 30% for the hosts
Like why do Olympics get those money? They're not the one's who spent money for buildings and facilities 🤷♀️🤦🏻♀️
cUTE BABY DWAGON :DDDD
@@thewanderer3987 Greed.
At this point besides the games actually failing, the overwhelming vibe is everyone in the media just want the games to fail to sell a story. No matter what.
At least we have fun wacthing the olympics
Why The [insert host city] Olympics Are So Expensive
The Olympics are like that cool yet homeless uncle you see every 4 years. He showed up at your front door, brought a six-pack of beer (3 are missing), and wondered if he could crash on your couch for the night. The next morning someone peed on the couch, there are beer cans in the fireplace, the dog is puking some strange liquid, and the bathroom is the scene of a horrifying toxic waste dump. Oh, and the front door is wide open, and you think both of your indoor cats have escaped and you cannot find them anywhere. Basically, the Olympics come to town, shreds your city, bankrupts your town, and leaves you with a pile of unusable Olympic buildings and venues. Should have never answered the door...
Seems you've had personal experience with this uncle?
The Japan government and IOC ignore voices of Japanese people and the efforts the international community have made thus far to control COVID. Voycott Tokyo Olympics.
Spoken like someone with no spirit for competition or interest in sports
@@iandavidvillaloboswong5180 Right! If you like that stuff, you pay for it.
+Scott Wonderful analogy.
Flash news: The next Olympics will be expensive Olympics ever. That's how it goes with Olympics
So far, I think London 2012 is the most efficient and economical OLP ever. They logistics were good. All medal ceremonies were neat but nice. The city put all venues to serve normal life, boosting local community well-being and business successes. Remember that it's the rare OLP game that broadcast online for free on RUclips. Everyone should have the chance to watch the game conveniently with affordable cost.
It's a sad reflection of how "Things" work these days. every Olympics, World Cup, etc, HAS to be better than the last,
despite the fact that so many people/communities are destroyed in the process.
add to that the Inevitable financial loss incurred, and u have to ask 'Are there more important things to throw this much money at?'!!!!
World Cup actually made profit. (2018 Russia gain some profits) Olympics does not
@@shafwandito4724 world cup doesn't make any profit
@@hemantks4353 you should take a look at the news of St. Petersburg and Sochi making a profit during world cup. Around 100 million USD profit since they only need to renovate stadiums and pitch.
Since when did a So Expensive episode become a drinking game (take a drink for every cha-ching).
Our respect to Japan people and organizers ❤️
In spite of all you did a great job in every way!!!
That’s what matters 🤩👍🏻
despite this, still a fantastic game held in Japan. Well done!
Fantastic covid too
@Yu Kay yeah, Beijing is more fantastic.
Thanks!
The fucc Is happening in this comment thread?
@@MuhammadIhsan390 I can't deny...
Thank you for coming through, Tokyo.
Govt: sorry we don't have money to feed the poor
IOC: so how much are you willing to spend on Olympics
Govt: YES!🤩
that's right decision you should teach fishing instead of giving poor people fish.
So they are poor because they are not working near my house many people can work as domestic workers but no they want to became beggars and feed of govt ( why pls tell )
@@dmeditz8100 did you learn that from nas daily 🤔?
They start building Olympic village 12 years before Olympics.
@@nithin7874 it's an old proverb
That's the reason why the Olympics were so good this year. I want to visit Japan and the Olympics are one reason for my interest
Has there ever been an Olympics that wasn't "The Most Expensive Ever?" Haven't they always out spent the previous versions?
The thing is they wouldnt be able to recoup some of the expenses because spectators wont be allowed. And of course the maintenance costs of those huge buildings.
No. The Olympics hit their prime in the mid-80s - 2002 because back then, the IOC didn't hog up all the profits and host cities were actually smart like Barcelona and Salt Lake City.
Hello daroofa,
The most expensive OLYMPIC GAMES is 2014 Winter Olympic Games in Sochi, Russia... The cost is OVER $50 Billion US Dollars..
Pretty sad that for sports(meant for everybody) billions of dollars need to be spend. Hopefully we realize that this money can better be giving to other humanitarian problems!
I agree! Most of the countries that host already have plenty of sports stadiums that would be fine to host the events in. I've seen plenty of pictures of stadiums built for the Olympics that are rarely used again and left to dilapidate.
I’ve been seen the video that some people already suggested that the olympic must be held by choosing the country not by bid
Choosing the country means less money spend for bids and that country must be already prepared on the infrastructure
Problems are all time, you can't change it with any money, so better make olimpics, people work for it with all theirs life, if poor will do the same there will be no poor people on world. You can't disagree.
There should be a single destination for the Olympics. Maintained by the IOC.
People who got money they care only for money , people who make money think only about making more money. Money screaming for more money
The main stadium for 2018 winter olympic was prefabricated and quickly disassembled when it was over. That saved millions and millions of dollars.
South Korea made that right decision to demolish it anyways since the stadium was only used for ceremonies and no winter sporting events.
Pick a spot with a good climate for summer and winter games, and hold the events there.
Canada
New York State. The summer games can be hosted within the NYC/Long Island and Jersey City area, and the winter games at Lake Placid. Lake Placid already hosted the winter games twice, in 1932 and 1980. While NYC has never hosted the Olympics, it has many world class stadiums that can be reimagined for the games. The basic infrastructure is already there. Plus NYC is no stranger to hosting big international events.
28 billion spend, and athletes can barely feed themselves. I think anyone that even makes it to that level should get paid 100k.
who is going to pay for that?
@@EliF-ge5bu who knows. the point is that athletes have made a massive effort to reach the top of their field, something that is definitely worth compensation for
They probably should have chosen another career if they wanted to make big money. I ain't paying for hamsters and their running wheels.
@@_blank-_ Lol. It makes sense if you are in countries like the US, where the federal government do not spend any money at all on olympic athletes. Rather, the sport bodies are nonprofit who raise private funds to support the athletes, or the athlete themselves can raise funds through sponsorship. Our sports economy can handle these.
However in many countries that is not the case, where sports development is a function of the government thus my question to the original poster who made this suggestion. Who is going to pay for it? I wouldn't want my tax money spent on these athletes.
And to think that my city competed to host these year's Olympics. Thank God that we finally lost!
Honestly... Because of the pandemic, this summer is probably too soon. The Olympics should be postponed until 2022. I think most people would be more comfortable with that in general.
Most people maybe, but not the athletes, that's for sure.
Hello Treebeard,
After 2022, then come 2024, too close to soon.
Don't FORGET: In 2022 there is a Winter Olympic Games in Beijing, China..
Hello@@nigelmarvin1387,
In this video and in this subject we are talking ONLY about The Olympic Games - Summer and Winter - We should think about the others Sports competitions around he World which happened every 4 years:
1 - Soccer: FIFA, EURO, ASIAN, COPA, CONCACAF....
2 - Commonwealth Games, ASIAD - (Similar to the Olympic Games) ....
Now, because of the cost of organization and the security for athletes, only the SUPER RICH COUNTIRES are able to organize its. The others, just send their athletes to the Games and the Athletes NEED TIME TO TRAIN for the next competition...
Hello@@nigelmarvin1387,
I forgot to mention The PAN-AM Games - For countries in North and South America continent ONLY.
Country like Canada always send their athletes almost every year to each of these games: Summer and Winter Olympic Games, Commonwealth Games, Pan-Am Games....
In the list NOT INCLUDING some others WORLD CUP COMPETITIONS which happened every year around the World...
In that case it'll be ironic that the 2020 games would be held AFTER the 2022 winter events
I watched some sports in Tokyo Olympics. It is sad to watch those sports with empty seats because of pandemic.
Lmao why not just make an "Olympic Island" just build the buildings once then maintain them forever for the Olympics.
That’s an idea.. but the island would have to have at least 43 event locations and Olympic village for housing etc. Maintaining that throughout years when the games are not on will be very expensive. Also technology would change significantly over the years, meaning the locations would have to be upgraded, again more upkeep cost. Also, bringing the construction materials into the island will be a logistical nightmare.
@@hannaboba7965 ok first shut up. Second that’s a great idea. I will not elaborate
@@jaketomlinsson7052 damn bro relax. she was only trying to say the bad stuff about making a olympic Island.
we can invade Syria and use it for the Olympics
@@aniseicy1667 wtf?
if covid wasnt a thing, tokyo Olympic could of been a success bringing in visters from around the world and everyone would of been happy but... honestly i feel so sorry for my fellow Japanese... Thank you for uploading this video so people could know that Japan did a lots of things to make Olympic successful...
By going over budget? $26billion is a LOT of MONEYYYYYY to spend on hosting the olympics. I guess with an ageing population in Japan there is no need to save money for the future generation right?
Tokyo is rich, they'll get back soon.
@@user-zr4qs7wl8d thank u china :/
@SANSKAR GUPTA gs0801cs181071 but also largest creditor in world, indonesia debt, half of total debt is from japan.
@@4evertrue830 thats why japan is suck at everything now, shrinking populations. All sectors slowly destroy
They need to just make Greece their home. Greece needs the money and it’s a part of their cultural identity.
Greece can't even feed themselves personally the usa should take it. We have the money for it and the will for it
@borray s breh tourist aren't going to fix a country that is deeply in debt. They need to do a major audit with reforms like increasing the age of retirement, cutting bloated bureaucracy, targeting corruption, stop doing grand projects that don't bring in revenue to the country and stop voting for fringe party that go against IMF bailout that is keeping them aflot
@@tsundokus US has money? Wake up sheeple, US is the most indebted country in the world in nominal terms and its entirely dependent on World to fund your deficits. You don't have enough savings and you rely on capital inflows to run your economy literally. Many countries now are competing for capital inflows and now your currency & bonds value are turning to toiet paper. Lol.
Acually I think we should take the olympics to regions and not cities, maybe countries or multiple Countries. For example: the Rhein-Rhur Metropolitan Area (in Germany) has already 90% of needed Venues to host the Olympics. Including enough Hotels and places to house the visitors.
@@tsundokus U.S.A will eventually turn it into political pandering centered on race or something. They'll probably treat all africans like theyre constant victims and use the chinese for racial propaganda. I seriously wouldnt trust the U.S with the olympics, if Greece ever gets over their issues then it should stay there not because of some cultural bs (that sounds like more of the u.s shenanigans) but simply because it sounds cooler to say "the olympics are in Greece"
How come that the bidding system to host FIFA world cup is by country, knowing that it's only one sport, but the olympics which is far more huge is by city, I think it's time for the IOC to change the bidding system and make it by country, it's better and it would save a lot of money.
Because in the World Cup all the stadiums are always located in different cities unlike
the Olympics where alll the main venues are located in the same city
Olympics gather far more athletes than the 32 squads that go to the World Cup
"Keep Moving Forward"
-Ereh
i was there, they installed escalators at all stations just for this
It will be interesting to see what happens with the future of the Olympics. I've seen ideas proposed where every event is held in a different country (track and field in one country, gymnastics in another, etc). I think that could be a good plan to reduce costs to the host countries while still allowing them to partake in the excitement of the Olympics. Would love to hear other's thoughts about this!
Not a chance that will work, hosting different events in different countries will make it meaningless. Any country that can not host the olympics and keep to budget should not attempt to host it in the first place. The Japanese officials are corrupt for not keeping to budget its as simple as that.
Logistics for the athletes, or even the supporters/fans who want to watch it in stadium
you dumb? it will lose the meaning of olympics, how about the fans who will some of the events are they gonna travel from country to country, they will lose supporters
All that just for no one to sit inside. 😂
Hope everything goes smoothly and safely.
The 2008 Beijing Olympics were $40 billion...
lol most of the money go to Government official
It's the same problem with everyone my architect told me my house renovation would cost around estimated 25k and ended up with freakin 55k
thats because he knew you wouldnt pay him if he estimated 55k
In Singapore home renovation is becoming more expensive also because many contractors are Malaysians who now have to spend more to seek accommodation in Singapore (instead of being able to commute back to live with their families in Malaysia daily, where the cost of living is lower, as the pandemic has prompted the governments of both countries to restrict movement between both of them)
You should always have some "cushion." If something is estimated to cost x amount add another 25% on top. If you recently did your renovation the double the cost might have come from the cost of materials which went through the roof.
The way Joel drags out all the last words, is very distractiiiiiinnnng 😂
I love Sayuri Shirai in this video.
She’s so smart.
Another episode of where quarantine has led me today.
How have I not heard a Wimbledon taking out pandemic insurance. Good lord that is true genius.
Love you Japan, I know you guys didn't go cheap, and I appreciate that and respect that. Especially because I know your level of workmanship is either perfect or near perfect.
Ewww
I'm very happy with highlighting to the best Olympic in the Tokyo game 2021for the world
Dang I wanna see that opening ceremony so bad! You just know it's gonna be futuristic AF
IOC should talk to UN to create an Olympic City to host the olympics every 4 years.
Yeah exactly. Building dozens of stadiums every 4 years is a massive waste of money..
Great vid!
i laughed at the change of design architects from zaha to that japanese old guy with his 🥴 face 😂😂😂😂
I’m Japanese and Tokyo citizen.
We as citizens, we do not support to do in this pandemic but, when it comes to governors, they want to do it for fame and not to lose Japan’s honor.
There is no important honor than protecting people’s life.
Yeah ✌
Nah that is not it. Just call it what it is, CORRUPTION! lmao....
@@4evertrue830 indeed. money is everywhere around politicians
We need more reasonable people like you in this world.
@@kreg857 haha 😂 thanks
take care mate
1.4B for a bad looking stadium... maybe 2B for a insane looking, was be much more well paid
Corruption is inside every project
When you're taking about the Olympics, every saved dollar counts. With how ambitious the original design was, it probably would've been even more expensive.
is it me or the 2nd one looks better than the 1st one, not saying that the 1st one wasn't good just that the second one looks way more japanese and you can see the thought behind it like using wood from every prefecture of the country and stuff
@@yannik4889 yup it's just the initial quotation
when we were kids, we've been thought about Olympics as a event which represents sportsmanship, peace and humanity. now we all know its for the MULAAAAA.
Mulaaa??
@@adarshagnihotri509 mula means money dude
@@aero-sumit2056 they are literally bankrupt, what money bro?
Isn't it about time we found a sustainable solution for these ridiculous events? Like use facilities and infra structure that is already existing..
Honestly I feel like with the US already having most of the facilities already built they could host a summer olympics cheap
@@CaffeinatedIce Many of these venues are used after the events. And the village apartments get sold. It's usually works well. Except for Greece.
@@CaffeinatedIce and ur last name is lu?😂😂😂😂😂😂😂😂😂
So could London.
It shouldn't be cancelled, that's not just stupid but also a colossal waste. The games should go on. Hopefully in the future it won't be such a huge economic obstacle for nations.
If they were cancelled it would be a huge waste of money & resources, but that lesson would show the world that the games are no longer profitable & now have the potential to be cancelled if another pandemic happened. It probably would've spared more debates to have the games hosted in one city which would more money & resources in the long run.
@@DJKeepCalm To spite the world a nation like Japan should cancel the most expensive Olympic games ever? They won the bid before the pandemic, they have been planning it before the pandemic, they moved the dates because of the pandemic, they have extreme safety procedures compared to most nations and I think personally, that the pandemic is coming to an end, with the vaccines rolling out and safety procedures still in place. An event like this would signify a return to a normal, functioning world.
The IOC are taking too much of a cut. 70% of costs! Insane.
As long as it’s not in my city... btw, that pommel horse looks like fun
Sydney 2000 stadiums such as Qudos Bank Arena and Stadium Australia are still being used to this day. Sydney was one of the good ones, I'd trust my country to hold a sustainable Olympics, and a lot of the 2018 commonwealth games facilities would probably be reused for a 2032 games which is why I'm glad Australia is the preferred bidder for 2032.
It's the same for the London Olympics.
Japan: Wow! this yrs olympics are gonna be GREAT! we have the perfect logo, a brand new stadium, so many cool things XD!!!
Covid: *ya'll summn*
When your project is so massive that you drive up the price of materials.
26 billion for empty podiums. yikes, we literally pay with our taxes for some politicians to show off.