Tokyo Expects Economic Impact Of 32.2T Yen From Hosting 2020 Olympics

The Tokyo metropolitan government on Monday said that the 2020 Olympics is "expected to bring economic benefits" totaling 32.2T yen ($28.3B) to Japan, according to KYODO. The government added that the estimate is "based on an expectation the Olympics' positive economic impact" will continue for 10 years or more after the event, given the example of the London Games. From Sept. '13, when Tokyo was picked as the host city, to Sept. '30, "benefits for Tokyo are estimated to total" 20.4T yen ($17.9B) and those for the rest of the country at 11.8T yen ($10.3B). The benefits would "come in a form of job creation, an increase in tourism, and investments to build and upgrade facilities." In December, the Tokyo Olympic organizing committee "set the cost of hosting the games" between 1.6T-1.8T yen ($14B-$15.8B) (KYODO, 3/6).