On the previous article, it was mentioned that Japan will host the 2020 Olympic Games. In connection to this good news, people should also consider the effects of this event to the economy of Japan.
According to the Olympics Invitation Board and Tokyo Sports Promotion Department, the Tokyo Olympics is worth $30 billion in the next 7 years. In the past Tokyo Olympics held in 1964, it benefited Japan during its post-war recovery. For 2020, Olympics is expected to boost the country’s economy by becoming an “explosive agent” and a medium to solve deflation. In addition, it can also stimulate the labor market by creating more than 150,000 jobs in line with this historical event.
As early as now, this event is already reaping some positive predictions like an increase in national revenue, improvement in real estate activities and a boost in the leisure and hospitality industries. On the contrary, it is also expected to increase the prices of commodities and real estate properties, which has both sides of a advantage and disadvantage for Japanese people.
Generally, this will be a great opportunity for Japan to recover from the recent economic crisis. Therefore, we strongly recommend you to start a business in Japan, so you won’t miss this great opportunity!