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Bank of Japan

Tokyo 2020 Olympics seen having $284 bn economic impact

TOKYO: The 2020 Tokyo Olympics are expected to give an overall 32.3 trillion yen ($284 billion) boost to the Japanese economy, according to the Tokyo city government. Euphoria surrounded the award of the Games to Tokyo in 2013 but scandals and cost overruns have overshadowed the hosting of the event. The original design for a new stadium was scrapped to curb soaring costs and there were allegations of bribery to secure the winning bid. Former Olympic host cities have frequently suffered an economic hangover after…