Japan savoured its victory on Monday in the race to host the 2020 Olympic Games, anticipating an economic boost to spur its revival from two decades of stagnation and help it recover from the devastating 2011 earthquake and tsunami.
The decisive win over rivals Madrid and Istanbul is also likely to strengthen the fortunes of Prime Minister Shinzo Abe, who put his reputation on the line in a bold gamble that victory would boost national confidence, a key ingredient in the success so far of his aggressive pro-growth policies.The economic impact of the win was estimated by the Tokyo bid committee at more than 3 trillion yen ($30 billion) with the creation of 150,000 jobs. If the Nikkei stock index follows the examples of the London and Athens bourses after those cities won the games, it could see a one to three-month rally.
But Tokyo, which in 1964 became the first city in Asia to host the Olympic games, won the right to host the world's biggest sporting extravaganza despite concerns over the leaking Fukushima nuclear plant 230 km (140 miles) from the Japanese capital.
Source: NewsOnJapan
But Tokyo, which in 1964 became the first city in Asia to host the Olympic games, won the right to host the world's biggest sporting extravaganza despite concerns over the leaking Fukushima nuclear plant 230 km (140 miles) from the Japanese capital.
Source: NewsOnJapan
