Tokyo 2020 organizers cut costs by $4.3bn – with more to come

Organizers of the Tokyo 2020 Olympics have taken several measures to cut costs by $4.3bn (€3.74bn) after spending spiralled out of control. More cuts are planned in the next two years.

Tokyo Games chief executive Toshiro Muto told the International Olympic Committee on Monday that savings were being made by holding shorter test events, cutting lease periods and also in construction costs.

“We have another year and a half and we will systematically look at solutions that do make sense from an experience and an economic standpoint,” said Olympic Games executive director Christophe Dubi.

The escalating costs of staging the Olympics has discouraged other cities from doing so; Rome, Hamburg and Budapest pulled out of the race to host the 2024 Games.