Tokyo 2016 today received a significant boost after the proposed 2009 fiscal budget of the Tokyo Metropolitan Government (TMG) allocated a fresh 100 billion yen, to the existing contingency fund for 2016 Games preparations.
The news confirms the financial strength of Japan’s bid to host an inspirational 2016 Olympic and Paralympic Games at the heart of its metropolitan capital, despite the current economic climate.
To increase Tokyo’s already strong expertise in hosting major sporting events, the TMG also pledged 2.26 billion yen (US$25 million) for the organisation of Olympic and Paralympic-related sporting events – including the Tokyo Marathon and a newly planned junior high school ekiden (long-distance relay road race).
Tokyo 2016 is committed to implementing a strong budget that will guarantee the effective delivery of the Games in a challenging economic climate. The TMG's new commitment of 100 billion yen will bring the ring- fenced contingency fund for Games preparation to 400 billion yen (US$ 4.4 billion),
The TMG's overall budget proposed for 2009 is a robust 6.6 trillion yen (US$73 billion), the largest fiscal budget of any metropolitan government in the world. Tokyo's hosting of the Olympic and Paralympic Games is expected to boost the metropolitan and national economies with a ripple effect totaling 2.8 trillion yen (US$31
billion), according to the TMG.
Dr Ichiro Kono, Chairman and CEO of Tokyo 2016, said: “We are extremely pleased to announce this news about our 2009 budget. It is further confirmation of our financial strength and security, which we believe is important to the Olympic Movement in these difficult
economic times globally.
“To ensure that Tokyo 2016 maximises investment and delivers a long-term, inspirational legacy for future generations, its Games Plan is highly sustainable. The Plan makes use of many enhanced Tokyo 1964 Olympic Games legacy facilities – which are still used for world class competition today – as well as five new state-of-the- art venues.”
The Japanese business community also sees Tokyo 2016 as an excellent opportunity, as demonstrated by the Bid’s attraction of 12 major Japanese corporate sponsors, including Asics, Descente, Yahoo! JAPAN, TBC, Otsuka Corporation, Japan Airlines, All Nippon Airways, East Japan Railway Company, AIU, JTB, Kinki Nippon
Tourist and Yomiuri Shimbun.
