The bill for a one-year postponement is expected to be $6bn, and the disruption is like a ‘kick in the guts’
Giant Olympic rings at the waterfront area at Odaiba Marine Park in Tokyo, Japan, on March 25, after the announcement of the Games’ postponement to 2021. Picture: REUTERS/ISSEI KATO
The Tokyo Games were postponed until 2021 last week as the coronavirus outbreak deepened, an unprecedented move in the 124-year history of the modern Olympics. New dates have yet to be set, leaving sponsors and businesses uncertain and scrambling. He believes the bulk of that, ¥423bn, will be from actual costs — things such as venue maintenance, reprinting of marketing materials and hiring new volunteers — with the remainder coming from a broader blow to the economy.The head of the International Olympic Committee has said the delay will mean additional costs for everyone.
Grapestone’s sales had been falling since February, when the coronavirus started to hit tourism. Now vendors are saying they do not want cakes decorated with the 2020 Games logo.
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