While many countries talk of the spirit of competition in sports or national unity when bidding to host the Olympic games, but there is one other motivating factor, and that is cold, hard cash. While there has been some discrepancy between the International Olympic Committee and Tokyo’s bid application about how much of the city’s population supports hosting the 2020 Games, many interests were piqued on Thursday when the Tokyo Olympic Bid Committee stated that should the city be picked to host, it would result in a 3 trillion yen (approx. $37.9 billion) boost to the Japanese economy.
Conducting the research themselves, the Olympic committee said that the economic impact won’t be contained to just Tokyo and it’s residents. Only 55% of the total effect will be felt in Japan’s capital, while the rest will be spread across the country through profitable contracts needed to pull off the international event. Should the 2020 Olympics be hosted in Japan, it will create 150,000 new jobs nationwide, with 84,000 of those in Tokyo, the committee reported. Figures like these might be more persuasive to Tokyoites, as the profit would far outweigh the 7.5 billion yen ($94.1 million) budget that has been set for the bid. Many balked at the 14.9 billion yen ($) that was spent on the ill-fated 2016 Olympic bid.
In its Olympic host application bid, Tokyo submitted its own survey that said 65% of the residents were in support of hosting the 2020 Games. This is higher than the support levels seen for the 2016 bid, but lower than the other two cities short-listed to host in 2020, Madrid and Istanbul. Masato Mizuno, CEO of the Tokyo Olympic Bid Committee, said that they have a responsibility to untie the Japanese population behind the national project, as it would provide a better future, not just for Tokyo, but all of Japan, most importantly in the northern areas affected by last March’s natural disasters.