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Economic impact of Tokyo Games estimated at ¥1.6T
Japan’s economy stands to gain a ¥1.6771 trillion windfall from the Tokyo Olympic and Paralympic Games, according to Takahide Kiuchi, executive economist at Nomura Research Institute, Ltd. The estimate included factors such as revenue from the sale of officially licensed merchandise and the construction of temporary facilities for the Games. The figure was down from an earlier estimate of ¥1.8108 trillion, when the decision was made to bar overseas spectators. The absence of domestic spectators at most venues may have resulted in a ¥133.7 billion hit, including lost ticket and accommodation revenue. The ... (full story)