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Delay of Tokyo Olympics Seen Costing Japan Over 3 T. Yen

Delay of Tokyo Olympics Seen Costing Japan Over 3 T. Yen

   Tokyo, March 23 (Jiji Press)--A postponement of the Tokyo Olympic and Paralympic Games is expected to deliver a huge blow to the Japanese economy, with one private-sector estimate showing that the country will lose more than 3 trillion yen if the events are delayed to next year or later.
   The International Olympic Committee said Sunday it will consider the possibility of pushing back the Tokyo Olympics, which is slated to open in late July this year.
   The sporting events were expected to bring economic growth to Japan through increased infrastructure investment for venues and a boost in inbound travel demand as people from around the world would flock to Tokyo to watch the games.
   According to estimates by Toshihiro Nagahama, chief economist at the Dai-ichi Life Research Institute, the almost already completed infrastructure produced economic effects worth 13.8 trillion yen through last year.
   However, Nagahama said that inbound tourism demand would be affected by the postponement of the Tokyo Games, with the Japanese economy seen losing 3.2 trillion yen this year.

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