The 2021 Olympics are turning into a $20 billion bust for Japan
July 21, 2021 | International
When Toyota Motor Corp. said this week it wouldn’t run any ads in Japan tied to the Olympics, it sent a message louder than any TV commercial about the host nation’s grim mood. Toyota is Japan’s most valuable company and a global Olympics sponsor, the top rank shared by only 13 others world-wide. The Olympics open on Friday a year late and during a Covid-19 state of emergency in Tokyo. Anticipation and expectations for an economic windfall have largely evaporated. Stadiums and arenas that cost over $7 billion to build or renovate for the Games will be mostly empty after spectators were banned…. (Excerpts from Fox Business)
