OLYMPICS

Tokyo 2020 Olympics seen having Y32.3 tril economic impact

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  • 5

    Disillusioned

    There is no way Japan is going to turn a profit from these Olympics. The costs of the infrastructure upgrades alone are more than their predicted 'boost' to the economy. The farce with the new stadium is going to cost three times their prediction regardless of their cost-cutting measures. The reality will be a decrease in the economy after the Olympics when all the infrastructure upgrades become useless.

  • 6

    Yubaru

    The hosting of the Games is also expected to generate 1.94 million jobs nationwide, Tokyo officials said.

    Like where in the world do the organizers think these new "employees" are going to come from?

    There is no way Japan is going to turn a profit from these Olympics.

    You can bet that on paper they will! The "truth" will be a state-secret!

  • 1

    itsonlyrocknroll

    I would not expect any economic water into wine moment from Toyko 2020, if the RIo 2016 games are anything to go by. Reports have calculated the overall costs of the London Olympic stadium at over £800 million..

    Turning the Games into gold: economic boost from London 2012 has passed £14 billion

    https://www.gov.uk/government/news/turning-the-games-into-gold-economic-boost-from-london-2012-has-passed-14-billion

    I don't know who how that figure of £41billion was calculated, even the £14billion published 23 July 2014, is from quote:

    The £14.2 billion comes from businesses securing contract wins, additional sales and new foreign investment in the 2 years since UKTI’s British Business Embassy at Lancaster House hosted the largest programme of business events held in Britain during London 2012.

    There is no evidence or link that this investment, that could consist of low interest loans underwritten by future real estate deals, actually derived directly from the staging of the 2012 Olympics.. .. The LSE blog final research Jan 2013 is more detailed......

    London 2012 Olympic

    http://eprints.lse.ac.uk/48467/7/__libfile_REPOSITORY_Content_LSE%20British%20Politics%20and%20Policy%20Blog_2013_Jan_2013_TO_DO_Olympics.pdf

  • 1

    Cricky

    It will bring ¥32+ trillion..... to debt, this idea that all will benefit is a farce. Unless you own a company gouging tax payers. I blink and blink and blink at these butt clenching numbers. I just want a nice life. I have a bic lighter I have some straw uhh Olymipcs.

  • 0

    fxgai

    All the public spending in Brazil for new construction has just produced negative GDP growth there.

    There is no fiscal multiplier generally (or it is less than 1.0, reducing growth). You have to have geniuses doing the spending for it to be different and geniuses in government are rare not the norm.

  • -1

    sf2k

    all you have to do is look at the wasteland of Olympics across the world after they leave (Brazil, Greece etc). Save a few like London, it's all just debt and even London's legacy is mixed

    This is just a scheme to funnel even more public money to corporations. There's going to be little value in world class facilities, and their upkeep and maintenance, in a dwindling population for both users and workers.

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