Experts from Monash University in Australia are available to comment on the postponement of the Olympic Games in Tokyo.
Professor Robert Brooks, Professor of Econometrics and Business Statistics, Monash Business School
Contact details: +61 400 837 287 or Robert.Brooks@monash.edu
See below quotes for use.
What would be the economic impact of postponing the Olympic Games on both Japan and the world economy?
"If you look at research on the economic impacts of the Olympic Games and major events, it suggests that the big sectors which benefit are in building, construction and infrastructure. Because the building, construction and infrastructure has already happened, to some extent, I think that moderates the economic impact now that the Games have been postponed. The tourism impact of the Olympics is always interesting but the literature suggests that it causes people to shift their tourist patterns from one year to another. The big question is, to what extent can cities adopt the 'Barcelona strategy' where the building, construction and infrastructure is about the revitalisation of a city, as much as it is about hosting an Olympic Games. Can Tokyo use its infrastructure to propel the city going forward?" – Robert Brooks
"Los Angeles, which is hosting the 2028 Olympic Games, will also be using much of their existing infrastructure. As there are no Olympic Games this year in Tokyo, the economic literature suggests that locals and tourists would spend their money on something else, so there is no real economic loss for the Japanese with Games being postponed. The public good aspects of the Games – the enjoyment and fulfilment of the Japanese who gain enjoyment without attending – will be deferred until next year." – Ross Booth
Which industries would be worst affected with the postponement of the Olympics?
"The main issue is for industries that plan to employ more people to cater for the swell of tourists to Tokyo, such as the hospitality, tourism and retail sectors, and all the event and staging jobs." – Robert Brooks
What previous Olympics have been cancelled and what were the economic effects of this?
"The only history of the Games being cancelled was during the wars: the Berlin Olympic Games of 1916, the Helsinki Olympic Games of 1940 and the London Olympic Games of 1944. But the IOC has a process whereby the cities that didn't end up hosting the Games, got another opportunity to host the Olympics in the future, because they had already done the infrastructure build – London in 1948 and Helsinki in 1952. Unsurprisingly, the Tokyo Games are postponed, but Japan has the infrastructure sitting there ready to host the Olympics." – Ross Booth
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Source: EIN Presswire