Postponing Olympics 'would cost Japan about 600 billion yen'
TOKYO – A postponement of this summer's Tokyo Olympics and the Paralympic Games would cost Japan 640 to 670 billion yen (5.8 billion dollars to 6.1 billion dollars), Japanese experts say.
The International Olympic Committee (IOC) acknowledged it was considering postponing the Games due to the coronavirus pandemic, while Japanese Prime Minister Shinzo Abe said the Games cannot be held under current circumstances.
If the IOC decides to postpone the 2020 Games, that would cost Japan about 640.8 billion yen, said Kansai University economics professor emeritus Katsuhiro Miyamoto.
The cancellation of the Games altogether would cost the country around 4.5 trillion yen, Miyamoto estimated, though the IOC and Abe have said that is not on the agenda.
SMBC Nikko Securities chief economist Junichi Makino told the Nikkei Business Daily a postponement of the Olympics would cost Japan 670 billion yen and that cancellation would sap 7.8 trillion yen from gross domestic product.
The Tokyo Olympics are scheduled to be held from July 24 to August 9 and the Paralympic Games from August 25 to September 6.dpa