POSTPONED! Olympics delay to cost Japan the possibility of $6 billion in economic losses
Japan is faced with the possibility of $6 billion in economic losses if the Tokyo Summer Games do not proceed as planned whereby corporate sponsors and hotels to miss windfall, while rebooking venues is difficult.
The overall domestic financial loss could reach 600 billion yen to 700 billion yen ($5.42 billion to $6.32 billion), private economists estimate. The impact would apply both to the nation — which has invested heavily in making the Olympics a national showcase — and to companies such as Bridgestone that have poured an estimated $3 billion into sponsorships.
