Tokyo 2020 organizers urged to keep cost below $20 billion

The International Olympic Committee is urging Tokyo to reduce cost for the next summer games.

At an open working group meeting in Tokyo, the game’s organizers vowed to keep costs below $20 billion as the host city is grappling with growing expenses.

But the Olympic authority thinks the 20 billion dollar threshold is still too high and could be reduced further.

“At this stage, we are not concurring that 20 billion is the ceiling. You can do a lot better than that,” said John Coates, IOC Vice President.

Among other proposals discussed were those made by Tokyo’s government to move the rowing and canoe/kayak sprint events to an existing course 400km north of Tokyo as well as using older facilities in the capital for volleyball and swimming.

Tokyo governor Yuriko Koike, told the meeting that due to the high cost of refurbishing the existing rowing venue, Tokyo had decided to stick with plans to build a new one in the capital.

Tokyo beat Madrid and Istanbul in 2013 to the rights to host the 2020 summer Olympics.

But the cost of many venues have soared a development organizers blame on increased construction costs following the March 2011 earthquake and tsunami.