Expert panel warns Tokyo Olympics cost could top $30 billion

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  • Tokyo Gov. Yuriko Koike looks over a report during an expert panel at the Tokyo Metropolitan government office in Tokyo Thursday, Sept. 29, 2016. The panel, launched by Koike raised concerns about ever-growing unofficial cost estimates and burden on the city and its taxpayers, warned that total cost for the Tokyo 2020 Olympic could exceed 3 trillion yen ($30 billion) unless they take drastic cost-cutting measures. (AP Photo/Shizuo Kambayashi)

    Tokyo Gov. Yuriko Koike looks over a report during an expert panel at the Tokyo Metropolitan government office in Tokyo Thursday, Sept. 29, 2016. The panel, launched by Koike raised concerns about ever-growing unofficial cost estimates and burden on ... the city and its taxpayers, warned that total cost for the Tokyo 2020 Olympic could exceed 3 trillion yen ($30 billion) unless they take drastic cost-cutting measures. (AP Photo/Shizuo Kambayashi) (The Associated Press)

  • Tokyo Gov. Yuriko Koike, standing in center, speaks during an expert panel at the Tokyo Metropolitan government office in Tokyo Thursday, Sept. 29, 2016. The panel, launched by Koike raised concerns about ever-growing unofficial cost estimates and burden on the city and its taxpayers, warned that total cost for the Tokyo 2020 Olympic could exceed 3 trillion yen ($30 billion) unless they take drastic cost-cutting measures. (AP Photo/Shizuo Kambayashi)

    Tokyo Gov. Yuriko Koike, standing in center, speaks during an expert panel at the Tokyo Metropolitan government office in Tokyo Thursday, Sept. 29, 2016. The panel, launched by Koike raised concerns about ever-growing unofficial cost estimates and ... burden on the city and its taxpayers, warned that total cost for the Tokyo 2020 Olympic could exceed 3 trillion yen ($30 billion) unless they take drastic cost-cutting measures. (AP Photo/Shizuo Kambayashi) (The Associated Press)

  • Tokyo Gov. Yuriko Koike, third from left, looks over a report during an expert panel at the Tokyo Metropolitan government office in Tokyo Thursday, Sept. 29, 2016. The panel, launched by Koike raised concerns about ever-growing unofficial cost estimates and burden on the city and its taxpayers, warned that total cost for the Tokyo 2020 Olympic could exceed 3 trillion yen ($30 billion) unless they take drastic cost-cutting measures. (AP Photo/Shizuo Kambayashi)

    Tokyo Gov. Yuriko Koike, third from left, looks over a report during an expert panel at the Tokyo Metropolitan government office in Tokyo Thursday, Sept. 29, 2016. The panel, launched by Koike raised concerns about ever-growing unofficial cost ... estimates and burden on the city and its taxpayers, warned that total cost for the Tokyo 2020 Olympic could exceed 3 trillion yen ($30 billion) unless they take drastic cost-cutting measures. (AP Photo/Shizuo Kambayashi) (The Associated Press)

An expert panel commissioned by Japan's capital city has warned that the total cost for the Tokyo 2020 Olympics could exceed 3 trillion yen ($30 billion) unless drastic cost-cutting measures are taken.

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The panel on Thursday said the ballooning costs reflect an absence of leadership and a lack of governance and awareness of cost control.

The panel, headed by a Keio University professor, was launched by newly elected Tokyo Gov. Yuriko Koike after she raised concerns about ever-growing unofficial cost estimates and the potential burden on the city and its taxpayers.

The report reviewed three out of seven permanent venues that Tokyo is planning to build, and proposed using existing locations rather than new facilities that could end up being white elephants.