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Estimated economical loss of Tokyo 2020 Olympics cancellation/postponement Japan 2020

According to estimates dating from March 2020, the Japanese government and other entities involved in hosting the Tokyo 2020 Summer Olympic Games would lose approximately 640 billion Japanese yen if the event was postponed. In case the Olympic Games were canceled altogether, the loss would amount to an estimated 4.5 trillion Japanese yen.

 Hitherto expenses and planned revenue

The fifth version of the budget announced in December 2020 by the Tokyo Organizing Committee of the Olympic and Paralympic Games (TOCOG), a total of approximately 1.64 trillion Japanese yen was expected to be spent for the preparation of the postponed Olympic and Paralympic Games. Venue-related expenses comprised the lion’s share of the expenditure, as the organizers built 19 new venues (10 of which were temporary) and renovated 18 others.
Disregarding expected economic ripple effects, Japan’s planned expenditure for the games exceeded its foreseen revenue.  

 What is the public opinion on the hosting of the Olympic Games before and after the advent of COVID-19? 

  The people of Japan had high expectations regarding the Olympic Games, as can be testified by the share of persons looking forward to the Olympic Games at the end of December 2019. After the postponement and especially due to an increase in COVID-19 cases during 2020, former high expectations turned into apprehensions as the share of people in Japan who believed that the Tokyo 2020 Olympics would not be held became the majority during the summer months of 2020.

Estimated economical loss when the Tokyo 2020 Olympics are cancelled or postponed in Japan as of March 2020

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Source

Release date

March 2020

Region

Japan

Survey time period

March 2020

Supplementary notes

1 Japanese yen equals 0.0097 U.S. dollars or 0.0079 euros as of January 2021.

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Statistics on "Tokyo 2020 Olympics and Paralympics"

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