Japan is going to enjoy $20 Billion economic windfall with a global recognition by organizing Olympics in Tokyo this week amid pandemic. This will bring the host nation an economic recovery from Chinese shadow and a recognition as a strong global force recovering from Tsunami in 2011.
The Olympics open on Friday, in the COVID-19 state of emergency in Tokyo, and a year late. Predictions of an economic windfall have largely evaporated. For building and renovating the stadiums and arenas for the games cost over $7 billion. The spectators on being banned, the stadiums and arenas will remain mostly empty.
Prime Minister, Yoshihide Suga said, “he was assured that intensive measures to maintain the general public away from the occasion would forestall the unfold of an infection and that the nation will nonetheless profit from an enormous international tv viewer”.
Through the Tokyo Olympics, Japan wanted to show how the country is still a global force, irrespective of its diminishing population and how China eclipsed its maturing economy. The Games would have forecasted, how Japan had bounced right back from the destructive Tsunami of 2011. Instead, the Olympic stands in a melancholic phase and due to the pandemic, the leader now struggles on keeping the job stable.
Bottom Line: Japan, as the Olympics host nation, expecting global recognition and anticipated economic windfall amid pandemic resulting a recovery from Chinese eclipse in economy and growth renovated after Tsunami devastation in 2011.