Economic benefits of Tokyo Games estimated at over $55 billion
The economic benefits of the Tokyo Olympics and Paralympics will be about 6.14 trillion yen ($55.75 billion) but Japanese organizers will incur a loss of more than 2 trillion yen, a scholar’s estimates showed Thursday.
Of the benefits, about 3.27 trillion yen from spending on the construction of facilities, including the National Stadium and the athletes’ village, have already spilled over into society, according to Katsuhiro Miyamoto, a professor emeritus of theoretical economics at Kansai University, who released the projections.
The remainder will come from consumption during the Tokyo Games and positive “legacy-related” effects expected to be seen after the end of the games early next month, Miyamoto said.
Miyamoto also looked into the organizers’ revenues since Tokyo won the bid to host the Olympics and Paralympics in 2013 and expenditures associated with the games. He found that their total deficit is…
