Tokyo 2020/1 organizers have claimed that the estimated official costs for the Games were US$1.8 billion less than anticipated at US$13.6 billion.
Despite this a study by the University of Oxford concluded that Tokyo was the most expensive Olympics on record.
Japan originally estimated the Games would cost US$7 billion when it won its bid to host the Olympics and Paralympics.
Local officials said part of the claimed reduction was because the absence of fans vastly reduced labour costs. They also said other outlays were lower than expected.
Tokyo 2020 confirmed that an agreement had been reached with the Tokyo Metropolitan Government and the Japanese Government over expenses related to the postponement of the Games.
They will continue to make every effort to reduce costs and secure revenues, and will further clarify all details of the Games’ expenses.
Final expense figures are not expected to be available until after spring 2022.