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SBD Global/September 24, 2013/Olympics

Tokyo 2020 A Chance For Japan To Revive Country's 'Moribund' Economy

With the 2020 Summer Olympics and Paralympics headed to Tokyo, "many see the next seven years as a chance to revive the nation’s moribund economy," according to Kazuaki Nagata of the JAPAN TIMES. Expectations "are rising in a number of industries, not only construction, tourism and sporting goods -- the usual beneficiaries -- but also security, translation and even towel making." An employee at sporting goods maker Mizuno Corp. said that hosting the Games "will motivate people." The employee said, "We think (the Olympics) will provide a boost for our business." In addition to gear, the sporting goods industry "will of course cash in on the usual demand for related goods." Manufacturers of towels -- a classic product associated with the games that is also essential to athletes -- "are also expecting big business." Shikoku Towel Industrial Association representative Seiji Kondo said, "I think the demand for towels will grow for sure." Retailers and manufacturers, however, "are not the only ones likely to see a jump in business." Demand for private security services "is expected to soar to safeguard buildings and construction sites in the run-up to the Games, and the athletes and crowds once they begin." According to Tokyo’s official candidate file, the capital "plans to deploy about 50,000 security guards, including 14,000 from the private sector, during the 2020 Olympics" (JAPAN TIMES, 9/23).
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