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Tokyo projects economic impact of 2020 Olympics to be nearly Y3 tril

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Mmm, sounds great but they "forgot" to mention how many of these jobs will be part-time and last only for the duration of the Games - four weeks or so. And how will exactly will businesses elsewhere benefit, not counting construction companies whose head offices are outside Tokyo?

2 ( +3 / -1 )

Is this a joke? When was the last time any country made a profit from the Olympics?? Jobs created? Do they have skileld workers? London relied on immigrants, japan???? Nope, none. Who will do it?

And yes, hatsoff, PT as well, we know companies aren't hiring FT anymore. Best hire PT an dnot pay them a decent wage and benefits such as pension.... Thank you Koizumi....

2 ( +4 / -2 )

Along with both post above, all of the venues built will take up how much space that will be left unused 90% of the year?

1 ( +2 / -1 )

The IOC will pick the 2020 host on Sept 7, 2013 in Buenos Aires.

This means that Japan has over a year to waste as much money as possible campaigning before getting rejected again. Pathetic, sad and just what you'd expect from this dysfunctional government.

That's what happens when politicians crave attention over recovery.

7 ( +7 / -1 )

Great. Thats how much its going to make. Now tell us how much its going to cost (including bribes).

1 ( +3 / -2 )

Glad not one yen of my tax money will go towards supporting this travesty. It is nothing but testimony to one man's -- Ishihara's -- world-class ego and arrogance.

1 ( +3 / -2 )

Economic benefits - 3 trillion for cronies..-..economic losses for the public purse...priceless.

6 ( +6 / -0 )

It's not going to happen. Madrid will get it, unless the economic turmoil creates roving gangs or something.

0 ( +0 / -0 )

Dam_ the trains are going to be fun.

2 ( +3 / -1 )

the Olympics should be abolished... they are nothing more than a steroid fueled festival of sporting banality that lines the pockets of corporate sponsors and Olympic committee officials...

2 ( +4 / -2 )

Then again, maybe Japan needs something to aim for. Something in the future to work towards. There's such a feeling of hopelessness now.

-2 ( +1 / -3 )

Ishihara seems to truly want the destruction of Japanese economics. As others stated the jobs are PT and the buildings will become unused most of the year. When will the baajin of Tokyo realise and stop re-electing this muppet. Japan needs to admit it has major problems and focus on rebuilding tohoku, restructuring the gov, police, social service and many more. Not waste more money on this stupid pipe dream. If there must be a bid for the Olympics then have Fukushima or Sendai bid! Use it as a way to force growth in needed areas, not in the politically stagnant, parasite infested city of Tokyo.

8 ( +8 / -0 )

Utter nonsense. This is a ruse trying to convince people that the Olympics are a good thing. Salt Lake City, Vancouver BC can both attest to how long the jobs lasted, how the expense balanced with the income.

2 ( +3 / -1 )

The economic impact would be felt not only in Tokyo, but all across Japan, including areas affected by last year's natural disaster in northern Japan

so now it's Fukushima 2020 ? bring it on ! the ultra enhanced athletes!

Mizuno, just put our money in the shredder now and save us the troubles.

0 ( +2 / -2 )

What a load a of BS...

1 ( +1 / -0 )

Pathetic, sad and just what you'd expect from this dysfunctional government.

It's not the government but that idiot Ishihara that is driving this bid.

3 ( +3 / -0 )

The 1964 Olympics showcased Japan's arrival on the world stage. It's a good chance for developing economies to advertise their infrastructure and 'modernity' ( then again the shocking waste of Athens 2004 hardly helped finances ). Tokyo doesn't need this in 2020. The legacy of the London Olympics will be a huge loss and a new football stadium for one of the London clubs. Terrific.

0 ( +0 / -0 )

And how many qualified economists are on the Olympic committee?

Their market research was probably bought and paid for by a similar crowd of construction companies and bureaucrats who predicted the traffic revenue on the Tokyo Aqualine, overestimating it by a factor of 10, and plunging the highway into debt...

1 ( +1 / -0 )

3 trillion in costs. 2.1 trillion in revenues. only 150K new jobs - all temporary. can these people count? I mean, you don't have to be an accounting genius to figure that this project is an awful idea.

There is nothing that would benefit tokyo by hosting these games. If they want to do it Japan, they should take it to less populous locations like Sendai, Aomori, Fukuoka or Hiroshima. I personally support Istanbul for its will to thrive. People of Turkey would benefit a lot from this event.

-1 ( +1 / -2 )

Tokyo projects economic impact of 2020 Olympics to be nearly Y3 tril

Heh.

That reminds me of the joke about the Jazz musician who won a multi-million dollar lottery. When asked what will he do with all his winnings, he said: "I'll go on tour 'till the money runs out".

0 ( +0 / -0 )

A headache for taxpayers, let this be on hands of the private sector

0 ( +0 / -0 )

A nsarly ¥3 trillion loss?

That's a huge economic impact.

Nice to see the politicians being upfront and honest for once - keep it up!

0 ( +0 / -0 )

I seriously doubt this would be 3 trillion in net profit. As other posters have mentioned, there hasn't been one Olympics to show a profit. This will be profitable only for those politicians and businesses directly involved, for everyone else, say goodbye to more poorly administrated taxpayer money. While I'm a fan of the Olympics, Japan is in no position to host them. In addition to the fact that the country is currently drowning in debt, politicians sending taxpayer money overseas in unsolicited donations, the Tohoku and nuclear situations, power crisis, the country does not have the infrastructure to handle that crowd capacity. Just get into a train at rush hour, or try driving out of town on a weekend. You'll see what I mean.

-1 ( +0 / -1 )

Organizers of Tokyo’s bid to host the 2020 Olympics said Thursday bringing the games to the Japanese capital would generate economic activity worth nearly 3 trillion yen and create more than 152,000 jobs.

How did they get these figures? How did they come to those numbers? These guys just want money from the government to promote and profit from this

0 ( +0 / -0 )

In addition to unicorn racing, flying pig racing, brown envelope passing, metro train carrage crush will be introduced at the Tokyo Olymics if the win the ballot.

1 ( +1 / -0 )

By the way, the article mentions that Japan('s politicians and major Olympic sponsor corporations) want to host the 2020 Olympics to symbolize Japan's RECOVERY from the 2011 disasters. What drugs are they on? I certainly hope Japan recovers by then, because it certainly doesn't look like we have yet. In fact, based on another article on JT today stating that the account surplus is down by 21.1% from last year, I'd say that economically we're doing worse.

2 ( +3 / -1 )

They (japan) always talk in trillions about profits but end up in losses mounting to billions !

1 ( +1 / -0 )

if you believe this then i have a bridge in NYC to sell you.

0 ( +0 / -0 )

Having Masato Mizuno as the head of the Tokyo government's bid is a classic example of amakudari. Mizuno was head of the eponymous sports equipment company, but "resigned" his position to represent Tokyo 2020 (as otherwise it would be a conflict of interest). But I have little doubt who Mizuno is really representing, and Ishihara too, and it ain't the people whose taxes are going to pay for this scam.

Let's see which brand Team Japan will use if Tokyo succeeds.

1 ( +3 / -2 )

Sorry, I guess it's amanobori (ascent to heaven)...

-1 ( +0 / -1 )

Many negative comments here but I think Japan would go for it, something for the people to look forward to, there is more to it than just money

0 ( +1 / -1 )

I do not support Tokyo's bid for the 2020 Olympic Games, however, I must point out that the article concerns the economic impact, not a net profit from holding the games in Tokyo. The real argument lies in whether the economic activity generated from preparations for the Games and holding the Games would really be new economic activity or merely a reallocation of resources from economic activity that would have occurred without the Games.

0 ( +1 / -1 )

Here in Brazil the Rio Olympic Games is already a spinning black hole which is growing year after year, and they still have 5 years ahead. Some of the arenas have doubled or tripled the initial estimates and most are not even in the foundation stage. Lots of bribery involved, news says every night. Tokyo may be more efficient than Rio, but what Ishihara's gonna do with foreigners coming to the games? Ban them? Better 2020 going to Istambul. Madrid will be a ghost town by then.

3 ( +3 / -0 )

Its predicated to bring in that much to our economy. But heres the question I'd want to know. How much will it cost to fund these games? Will these games turn out a profit for the economy? Because the London Olympics were originally estimated at a cost of £2.4 billion which then soared to £9.7 billion by 2007 and a recent investigation which has also took in transport upgrades have took the total to £24 billion!!!! Then theres also the £1billion for security which includes the Royal Navy, 13,000 army personnel, aerial drones and firearms response teams from around the country.

So all in all that will cost over 3 trillion yen to host the games.

1 ( +1 / -0 )

What a strange article. The underlying assumptions are cruel indeed.

It seems the 19,000 dead are the key ingredient as to why Tokyo deserves to host the O. If those deaths are the common denominator, what is each death buying in Ishihara's so cynical calculation...

Let's see...Y3 trillion projected income divided by 19,000 = Y157,894,737/death. (I think). Each of the total jobs, no matter how long their duration, is 8 jobs/death. That boils down to 4.42 jobs in Tokyo/death, and 3.57 jobs outside of Tokyo/death.

And how exactly does any of this "benefit" Tohoku, et al? Much less Tokyo & Japan?

1 ( +1 / -0 )

Yoyogi Park will be destroyed !!!!!! NOOOOO !!!!! I don't want Tokyo 2020 Olympics. Give it to Fukuoka or Istanbul.

Give it to Singapore or Thailand !!!!!!!

0 ( +0 / -0 )

Tokyo projects economic impact of 2020 Olympics to be nearly Y3 tril

yeah impact our pockets taxes etc, this is code for it will cost tax payers 3 trill yen

0 ( +0 / -0 )

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