Rising GDP in Japan Proves Tokyo 2020 is ‘ready to deliver’

The Tokyo 2020 bid for the Olympic Games has welcomed the news that Japan’s economy grew the most in a year last quarter.

Consumer spending and export gains outweighed the weakest business investment since the March 2011 earthquake and Tsunami.

A Cabinet Office release showed the GDP rose by 3.5% and the news is being seen as a big boost to Tokyo 2020.

Tokyo 2020 CEO Masato Mizuno said: “Japan’s rising GDP clearly supports the Bid’s ability to deliver a dynamic and spectacular celebration for the 2020 Olympic and Paralympic Games.

“With our financial strength firmly in place, we can focus upon delivering superb Games that promote Olympic Values for new generations in this challenging and fast-changing era for sport.”

Governor of Tokyo Naoki Inose added: “Tokyo is a key business hub in Asia where numerous global companies in a range of industries have their headquarters.

“I am pleased to see our economy gaining further momentum, and backed by a massive $4.5 billion Games hosting fund, Tokyo 2020’s impressive financial base provides a rock-solid foundation for hosting an amazing 2020 Olympic and Paralympic Games.

“Put simply, we are ready to deliver.”

The ‘Abenomics’ economics policy is seen as making great strides and has been set-up by Japanese Prime Minister Shinzo Abe, who is also a Supreme Advisor to Tokyo 2020.