Hosting the world’s largest sporting event is an ongoing chapter for Tokyo. Before the pandemic, Japan was expecting the Tokyo Olympics to yield 32 trillion yen in economic impact. With the cost growing and the revenue streams thinning, the total impact is still to be determined.
The pandemic’s onset and its global impact weren't fully realized in early 2020 and organisations and countries worldwide arguably underestimated the timeline and cost—Tokyo Olympics is no different.
Uncertainty and delays, understandably, bred public fear of the economic impact. Infrastructure and stadium renovations are just a couple of investments stuck in limbo as Japan continues to wait out the pandemic. There are lessons to be learned from the last year that the global public and the organizers of other major sporting events like the FIFA World Cup 2022 should remember.
Covid-19 Has and Will Continue to Impact Sporting Events
On the heels of the Summer Olympics finally set to begin after being delayed one year,...