Tokyo Olympics 2020 to Boost GDP: Bank of Japan
Investment in Olympic-related construction in Tokyo, including a new stadium, will total 10 trillion yen (USD 83 billion) by 2020, with a building rush peaking in 2018, according to a report from the Bank of Japan.
Tokyo: Tokyo’s 2020 Summer Olympics could boost the economy by as much as one percent with construction and tourism helping to fuel growth, the Bank of Japan said on Monday.
Investment in Olympic-related construction, including a new stadium, will total 10 trillion yen ($83 billion) by 2020, with a building rush peaking in 2018, according to a report from the central bank.
The Bank of Japan said the number of foreign visitors to the country was expected to reach 33 million in 2020, from 13.4 million in 2014.
It estimated that gross domestic product in the world’s number three economy in 2018 – the high point of Olympic-related impact – would get a boost of as much as six trillion yen, resulting in a one percent increase compared with overall GDP in 2014.
