Tokyo 2020 Bid Win to Bring Significant Economic Boost to City

If Tokyo win the bid for the 2020 Olympics it bring in US$37.9 billion boost to the economy and 152,000 jobs in Tokyo, according to a research project commissioned by the campaign. 

The Tokyo bid is already backed by a guaranteed fund of $4.5 billion this research project further quantifies the value in bring the Games to Japan as a boost for the economy following last year’s earthquake and tsunami. 

Masato Mizuno, bid CEO, said, “Tokyo 2020 promises to be a financially robust Games due to vast resources guaranteed by the Tokyo Metropolitan Government, along with strong backing by corporate Japan. 

“Furthermore, Tokyo 2020 would bring huge economic benefits to the local, national and global economies. 

“Significantly, 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. 

“We have a responsibility to unite and inspire Japan’s entire population behind this national project and thereby widen the path to a better future.” 

The breakdown of the research shows that $21.1 billion would benefit the economic area of the city and $16.3 billion would help the national economy. New jobs are calculated at 152,000 nationwide with 84,000 in the city of Tokyo and 68,000 in other areas. 

Together with the economic advantages the city would also benefit from improved public transport, attractive new sports facilities and a variety of other valuable public amenities. 

Tokyo is also striving to attract new tourists and boost their tourism market consequently creating new jobs in the hospitality sector. 

The Japanese capital is bidding for the 2020 Games together with Istanbul and Madrid. The final vote will take place in Buenos Aires in September 2013.