Expert Chaslau Koniukh
  • Biography
  • Analytics
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Market terminology
  • Stock Market
  • World exchanges
postponement of the Olympic Games

How the postponement of the Olympic Games in Tokyo will affect the Japanese economy

28.11.2020
2 min read

The postponement of the Olympic Games in Tokyo: causes

The Tokyo Summer Olympics were to start in July, but the Coronavirus Pandemic has made adjustments to their plans, and the International Olympic Committee has decided to postpone the event until next year. However, according to some experts, the postponement of the Olympic Games will have a negative impact on the country’s economy.
The Minister of Economy suggested that the cancellation of sporting events would worsen a number of processes in the Japanese market. He fears that the postponement will further exacerbate the problem of outflow of tourists from the state and reduce consumption. The authorities had high hopes for the Olympics, thinking that they would stimulate growth in the economy, which was significantly affected by the pandemic. According to some analysts, the cancellation of the event means that Japan’s GDP will decrease by about $29 billion. Prior to the coronavirus, preparations for the Olympic Games were active and yielded good results, but all this was crossed out by a global disaster and economic decline.
The International Olympic Committee decided to postpone the competition in March this year, an initiative that was taken by the President of the organization. According to the committee participants, a one-year postponement will allow people to recover from the pandemic and athletes to get in shape. For its part, Japan promises to prepare the most comfortable conditions for the Games. The name will remain the same – “Tokyo 2020”. The postponement will not be easy, as many logistics schemes have already been put in place. However, the Japanese authorities promise that they will be able to provide both athletes and spectators with the necessary conditions for a great and safe pastime, but only next year.

postponement of the Olympic Games

The Olympic Games are not the only event that had to be cancelled. Now the world professional sport suffers huge losses. Championships have been stopped, teams can’t play, there is no opportunity to visit training bases. At the beginning of the epidemic some football matches were held with empty tribunes, but it was unprofitable, and fans still gathered under closed gates of the stadiums, which was not safe for their health. Therefore, the sports world decided to suspend all activities. The NBA postponed the games for an indefinite period. One of the factors was the scandalous performance of the basketball player, who touched all the microphones at the table during the press conference. After a while, he and his teammates were diagnosed with a coronavirus. After that, some of the athletes were quarantined and the players were banned from training together.
The European Football Championship and Champions League were also cancelled. The NHL said that as soon as the epidemic subsides, they will finish the season, and while everyone will comply with the conditions to minimize the risk of infection.

Share
0
Previous Post Christopher Gardner is the man who has proven impossible Next Post The U.S. Federal Reserve is printing dollars to support the market in times of crisis

You Might Also Like

economic growth rates
Global Economy
US economic growth rate: forecast for the coming year
11.07.2020
hitting the economy
Global Economy
Weather in Germany is hitting the country’s economy
17.01.2021
Singapore law
Global Economy
Singapore law introduces a license for cryptocurrency companies
18.05.2020
2% tax increase
Global Economy
How will the Japanese economy and population be affected by the 2% tax increase?
08.12.2020
Rejection of quarantine
Global Economy
The rejection of quarantine in Sweden led to the strengthening of the national currency
08.03.2021
recovery of the U.S. economy
Global Economy
U.S. economic recovery could drag on: Federal Reserve experts
16.02.2021

Recent Posts

  • 1minimize risks
    Bank of Russia recommends the Moscow Exchange to minimize the risks of contracts with negative prices
    10.04.2021
  • 2Disney Plus
    Corporation analysts: prospects of Disney Plus streaming service
    09.04.2021
  • 3Tencent Company
    Tencent company pressed Facebook and became the leader of the social networks segment
    08.04.2021
  • 4financial trap
    The Chinese government can expect a financial trap
    07.04.2021
  • 5Ingvar Kamprad
    Ingvar Kamprad: biography of the founder of the famous IKEA store chain
    06.04.2021

Popular Posts

  • Economies of the Baltic States: main factors affecting their development 0
  • How countries with different economies live: overview of Germany 0
  • Oil quotes: forecast from Swiss bank Julius Baer 0
  • Brand valuation of different countries: rating review 0

Social

Editor's Picks

Chaslau Koniukh

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Latest Posts

minimize risks
Bank of Russia recommends the Moscow Exchange to minimize the risks of contracts with negative prices
10.04.2021
Disney Plus
Corporation analysts: prospects of Disney Plus streaming service
09.04.2021
Tencent Company
Tencent company pressed Facebook and became the leader of the social networks segment
08.04.2021

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh is an international financial expert, a professional investor, an experienced analyst and a practicing trader. He advises European entrepreneurs; holds lectures on investment topics; is the author of scientific articles on work at the stock market.

Recent Posts

  • 1Caesars Entertainment
    Caesars Entertainment Company now owned by Eldorado Resorts
    11.04.2021
  • 2minimize risks
    Bank of Russia recommends the Moscow Exchange to minimize the risks of contracts with negative prices
    10.04.2021
  • 3Disney Plus
    Corporation analysts: prospects of Disney Plus streaming service
    09.04.2021
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Youtube
  • Instagram
  • Biography

Expert Chaslau Koniukh: brief biography and path of formation

Let’s Socialize