Tokyo Olympics postponed: Japan fears $6 billion in economic losses

One-year delay in holding Tokyo Olympics could cause huge losses of $ 6 billion

One-year delay in holding Tokyo Olympics could cause huge losses of $ 6 billion

Tokyo … News Time

Host nation Japan is reportedly facing huge losses of $ 6 billion due to the postponement of the Olympics 2020 due to the devastation of the Coronavirus. Japan hosts nearly $ 30 billion in preparation for the Olympic 2020 host while Katsaihiro Miyamoto, honorary professor and leading economist at Kansai University, Japan, said the one-year delay in holding the Tokyo Olympics could result in a huge loss of $ 6 billion. According to the report, only $ 3.8 billion will be needed for the maintenance and repair of stadiums and other associated facilities, and the cost of other economic losses will reach $ 2 billion. The report adds that Japan’s overall economy could be further affected by the decline in tourism and limited consumer spending.

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