Japan to face major economic losses if the Tokyo 2020 Olympics gets cancelled

Tokyo

Estimates of the Japanese bond company, SMBC, confirmed that Japan will incur significant economic losses if it decides to cancel the Tokyo 2020 Olympics.

In a report on this matter, the company revealed that if Japan made this decision, it is expected that Japan's GDP growth is declining by 1.4%, and the Japanese economy will suffer losses estimated at 7.8 billion yen, and it is also expected that Japan's total revenue will decrease by 24.4% compared to 2019.

In contrast, the company expected that the establishment of the Olympic Games will lead to an increase in consumption by participants. Followers will generate income Japan rose to 670 billion yen.