💰 Summer Tokyo 2020 💰 Discussion and bet thread 💰 Summer Game 💰

[bryant.coleman]

This seems like a terrible idea to me, the Olympic Games are very expensive as the number of facilities that need to be built is very high due to the number of sports and athletes that go to compete, this is not like the soccer world cup in which if the country already has a decent league they could make do by building just one or two stadiums and modernize the rest, for what I have read most Olympic games from an economic standpoint are a loss and that is with spectators, if they are really thinking of going through without spectators I do not even want to imagine the size of their losses.

That's true. Olympic games cost billions of USD in expenses. And the countries hope for long term impact from the games, in the form of increased tourist inflows and better infrastructure facilities. However in case the foreign visitors are not allowed, then a large part of these gains will be lost. Japan is having a stagnant economy for almost two decades now, and they were hoping for a boost in the form of Olympics.

[Jating]

By the end of the month, we maybe will have the official statement but the idea is to do the summer games with no foreign spectators

What do you think?

I think is a bad idea for them but hey their vaccine's plan is so bad, right now they vaccinated only 0.05% of the population.

This seems like a terrible idea to me, the Olympic Games are very expensive as the number of facilities that need to be built is very high due to the number of sports and athletes that go to compete, this is not like the soccer world cup in which if the country already has a decent league they could make do by building just one or two stadiums and modernize the rest, for what I have read most Olympic games from an economic standpoint are a loss and that is with spectators, if they are really thinking of going through without spectators I do not even want to imagine the size of their losses.

Japan has already build the stadium and 99% ready to go prior to the pandemic, so they have invested billions of dollars already and they need to recoup that. Perhaps not with the full capacity of spectators, but at least 50% could be a good bench mark to at least recover from the high cost of hosting an Olympic games. So they need fans definitely, Olympics games without spectators? that's unprecedented.

[Silberman]

This seems like a terrible idea to me, the Olympic Games are very expensive as the number of facilities that need to be built is very high due to the number of sports and athletes that go to compete, this is not like the soccer world cup in which if the country already has a decent league they could make do by building just one or two stadiums and modernize the rest, for what I have read most Olympic games from an economic standpoint are a loss and that is with spectators, if they are really thinking of going through without spectators I do not even want to imagine the size of their losses.

That's true. Olympic games cost billions of USD in expenses. And the countries hope for long term impact from the games, in the form of increased tourist inflows and better infrastructure facilities. However in case the foreign visitors are not allowed, then a large part of these gains will be lost. Japan is having a stagnant economy for almost two decades now, and they were hoping for a boost in the form of Olympics.

In fact if the country in question already has a strong tourism industry the opposite happens and their revenue goes down, this may seem counterintuitive but what happens is that the people that would otherwise visit the country avoid it because they know that with the Olympic games they are not going to get the same experience so they delay their trip, this is why for a long time I have thought the Olympic games need to be smaller otherwise the desire to host the games will go down dramatically.

[Sithara007]

In fact if the country in question already has a strong tourism industry the opposite happens and their revenue goes down, this may seem counterintuitive but what happens is that the people that would otherwise visit the country avoid it because they know that with the Olympic games they are not going to get the same experience so they delay their trip, this is why for a long time I have thought the Olympic games need to be smaller otherwise the desire to host the games will go down dramatically.

Apart from the huge expenses involved in constructing the stadiums and other sports facilities, I can't think about any other negative from hosting the games. The argument that tourism revenue will go down sounds odd. Anyway, Olympics is being conducted in and around Tokyo, and nothing prevents those who doesn't like the games from visiting the other cities. But international tourism industry won't be restarted anytime soon. Unless COVID 19 is contained, it will remain in a suppressed state, and I don't expect a recovery at any point this year.

[Silberman]

In fact if the country in question already has a strong tourism industry the opposite happens and their revenue goes down, this may seem counterintuitive but what happens is that the people that would otherwise visit the country avoid it because they know that with the Olympic games they are not going to get the same experience so they delay their trip, this is why for a long time I have thought the Olympic games need to be smaller otherwise the desire to host the games will go down dramatically.

Apart from the huge expenses involved in constructing the stadiums and other sports facilities, I can't think about any other negative from hosting the games. The argument that tourism revenue will go down sounds odd. Anyway, Olympics is being conducted in and around Tokyo, and nothing prevents those who doesn't like the games from visiting the other cities. But international tourism industry won't be restarted anytime soon. Unless COVID 19 is contained, it will remain in a suppressed state, and I don't expect a recovery at any point this year.

I know it sounds odd and in fact I thought the same when I first heard it but it makes sense, I leave you links to this about the tourism during the London 2012 Olympic Games, it seems the number of international visitors went down but they spent slightly more giving a slight edge to the profits they had, but it was not even, most of that money went to the games while the rest of the touristic attractions suffered, so most of that money went to governments and other institutions while private enterprises lost money, so they did not benefited from the games in any way and if Japan does not accept international tourism the losses they will suffer will be huge.



https://www.independent.co.uk/news/uk/home-news/london-tourism-struggles-during-olympics-7994159.html
https://www.bbc.com/news/business-19907460

[Sithara007]

I know it sounds odd and in fact I thought the same when I first heard it but it makes sense, I leave you links to this about the tourism during the London 2012 Olympic Games, it seems the number of international visitors went down but they spent slightly more giving a slight edge to the profits they had, but it was not even, most of that money went to the games while the rest of the touristic attractions suffered, so most of that money went to governments and other institutions while private enterprises lost money, so they did not benefited from the games in any way and if Japan does not accept international tourism the losses they will suffer will be huge.



https://www.independent.co.uk/news/uk/home-news/london-tourism-struggles-during-olympics-7994159.html
https://www.bbc.com/news/business-19907460

Well.. London is one of the most popular tourist destinations, and therefore I don't expect much of a boost from the Olympics. On the other hand, Japan is not a top-tier tourist destination (due to a variety of reasons, primarily cost factor). The Olympics was expected to give a boost to the Japanese economy, which has been in stagnant mode for more than two decades now. But now those hopes have largely vanished.

[eaLiTy]

Japan has already build the stadium and 99% ready to go prior to the pandemic, so they have invested billions of dollars already and they need to recoup that. Perhaps not with the full capacity of spectators, but at least 50% could be a good bench mark to at least recover from the high cost of hosting an Olympic games. So they need fans definitely, Olympics games without spectators? that's unprecedented.

The pandemic was unprecedented, Japan invested billions for the big showdown and it is unfortunate what we are going through and i am sure they will allow spectators after through test and they might allow visitors that are vaccinated and then everyone following the protocol would make it safe in papers. The only problem is that the number of athletes for any Olympic event is over 10,000 and how they will manage to keep everyone in a bubble.

It is going to be a huge task and historically the host nation does not recover the amount they spent and they end up in debt, Athens Olympics is a prime example and everyone is aware of the financial struggles Greece had after that and Japan is spending over $35 billion and the delay means they need to shell out extra $3 billion and it is a financial disaster in the making.  

Apart from the huge expenses involved in constructing the stadiums and other sports facilities, I can't think about any other negative from hosting the games.

There is a debt the people should pay while conducting these games which means the taxes goes higher and it might even take decades to recover that loss. The prime example is the number of countries interested in bidding for the Olympic games and you will not find many countries throwing their hat especially with the financial struggles after the pandemic and i wont be surprised if France pulls out of the 2024 Olympics or the US from the 2028 Olympics.

[ene1980]

Well.. London is one of the most popular tourist destinations, and therefore I don't expect much of a boost from the Olympics. On the other hand, Japan is not a top-tier tourist destination (due to a variety of reasons, primarily cost factor). The Olympics was expected to give a boost to the Japanese economy, which has been in stagnant mode for more than two decades now. But now those hopes have largely vanished.

I thought Japan was a rich country and they are in the top two or three economic indexes and what makes you think that the economy is stagnant. I heard the expense are high and conducting the Olympics might have boosted their tourism but to boost the entire economy is not possible.

i wont be surprised if France pulls out of the 2024 Olympics or the US from the 2028 Olympics.

They will print more dollars, $1.9 trillion for the covid relief bill by US and they can print more for the Olympics .

4 more months to go for the Olympics.

[Sithara007]

Apart from the huge expenses involved in constructing the stadiums and other sports facilities, I can't think about any other negative from hosting the games.

There is a debt the people should pay while conducting these games which means the taxes goes higher and it might even take decades to recover that loss. The prime example is the number of countries interested in bidding for the Olympic games and you will not find many countries throwing their hat especially with the financial struggles after the pandemic and i wont be surprised if France pulls out of the 2024 Olympics or the US from the 2028 Olympics.

I am not sure about France, but I don't think that the US will pull out. Recently they announced a $1.9 trillion stimulus. You really think that they will have issues in spending 0.5% of that amount in hosting the Olympic games? Anyway, cost remains a concern for many of the countries. If things go on like this, then only the oil rich Gulf nations will be able to host Olympics (one of them is already hosting the FIFA World Cup next year).

[Silberman]

Well.. London is one of the most popular tourist destinations, and therefore I don't expect much of a boost from the Olympics. On the other hand, Japan is not a top-tier tourist destination (due to a variety of reasons, primarily cost factor). The Olympics was expected to give a boost to the Japanese economy, which has been in stagnant mode for more than two decades now. But now those hopes have largely vanished.

I thought Japan was a rich country and they are in the top two or three economic indexes and what makes you think that the economy is stagnant. I heard the expense are high and conducting the Olympics might have boosted their tourism but to boost the entire economy is not possible.

Japan is the most indebted country around the world, at a debt to GDP ratio of 240%, in order to understand that number think of all the money that you make in a year, lets call this A well Japan is indebted 2.4 times that amount, the economy of Japan is in deep trouble and this has been the case for decades, so despite their technology and the incredible advances we see coming from Japan the Olympic Games are not going to do anything but bring them even more debt than what they had already.

[Sithara007]

Japan is the most indebted country around the world, at a debt to GDP ratio of 240%, in order to understand that number think of all the money that you make in a year, lets call this A well Japan is indebted 2.4 times that amount, the economy of Japan is in deep trouble and this has been the case for decades, so despite their technology and the incredible advances we see coming from Japan the Olympic Games are not going to do anything but bring them even more debt than what they had already.

Japan is heavily indebted, but at the same time most of the debt is being privately held by the citizens of that country. The interest rates on treasury bonds are extremely low (even lower than the case in the United States). And most importantly, the National debt to GDP ratio is showing a declining trend over the years. As per the data from 2019, it stands at 238% of the GDP (which is almost at the same level they had five years ago).

[eaLiTy]

~They will print more dollars, $1.9 trillion for the covid relief bill by US and they can print more for the Olympics .
4 more months to go for the Olympics.

It is not that easy as that sounds, the burden is real and what all policies they come up determines their economical strength.

Just 4 more months and we are not seeing the hype we used to see in the past, i am yet to see the prospects.

~
I am not sure about France, but I don't think that the US will pull out. Recently they announced a $1.9 trillion stimulus. You really think that they will have issues in spending 0.5% of that amount in hosting the Olympic games? Anyway, cost remains a concern for many of the countries. If things go on like this, then only the oil rich Gulf nations will be able to host Olympics (one of them is already hosting the FIFA World Cup next year).

The stimulus package in this scenario is they are pumping more money in the economy hoping everything will be back to normal, hosting an Olympics means more infrastructure, advertisement and other amenities and it will help boost some industry but it will create debt and i am yet to see a positive example of deficit spending.  

[coinlocket$]

By the end of the month, we maybe will have the official statement but the idea is to do the summer games with no foreign spectators

What do you think?

I think is a bad idea for them but hey their vaccine's plan is so bad, right now they vaccinated only 0.05% of the population.

It is now official.
No foreign will be accepted in Japan for the Summer Game 2020 2021.

This is a clear clue that will have games almost for sure, there is no point this make this announcement if the game were at risk.

[Sithara007]

I think that such a decision by the Japanese authorities will offset a significant part of the positive effect of the Olympic Games on the country's economy and other aspects. I perfectly understand the reasons why this decision was made and the ongoing pandemic is the main reason, but still I think it was worth working out options for receiving already vaccinated fans from other countries.

Japanese are very strict with the security protocols and therefore I don't expect any relaxation for the Olympics as well. And their strict preventive measures are the reason why the death toll has remained at less than 10,000 in that country, despite having one of the most elderly populations in the world (for comparison, close to 300,000 people have died from COVID 19 in Brazil). Verifying whether fans are vaccinated or not is not practical for such huge groups of people.

[Silberman]

By the end of the month, we maybe will have the official statement but the idea is to do the summer games with no foreign spectators

What do you think?

I think is a bad idea for them but hey their vaccine's plan is so bad, right now they vaccinated only 0.05% of the population.

It is now official.
No foreign will be accepted in Japan for the Summer Game 2020 2021.

This is a clear clue that will have games almost for sure, there is no point this make this announcement if the game were at risk.

It is not like I would have gone to Japan to watch the Olympic Games but this is sad news, this indeed guarantees the Olympic Games are going to take place but the cost not only in terms of money but also on what this symbolizes is huge, the Olympic Games are not only the biggest sport competition around the world they are a small symbol of unity around the world and the fact that no one can go to Japan to watch the games severely affects this image, even if I think that due to the pandemic and the slow vaccination on Japan it makes sense.

[Maasdamer]

By the end of the month, we maybe will have the official statement but the idea is to do the summer games with no foreign spectators

What do you think?

I think is a bad idea for them but hey their vaccine's plan is so bad, right now they vaccinated only 0.05% of the population.

It is now official.
No foreign will be accepted in Japan for the Summer Game 2020 2021.

This is a clear clue that will have games almost for sure, there is no point this make this announcement if the game were at risk.

It is not like I would have gone to Japan to watch the Olympic Games but this is sad news, this indeed guarantees the Olympic Games are going to take place but the cost not only in terms of money but also on what this symbolizes is huge, the Olympic Games are not only the biggest sport competition around the world they are a small symbol of unity around the world and the fact that no one can go to Japan to watch the games severely affects this image, even if I think that due to the pandemic and the slow vaccination on Japan it makes sense.

I hope the games get cancelled and Japan loses a lot of money.
Its such a joke they want to let in 10000 or more athletes and staff but somebody like me with a wife in Japan is not allowed to enter for 1 year now.

All they care about is money.
I was registered as a volunteer for the games, now I saw they only use 500 foreign volunteers and people abroad are obviously not allowed. But Japanese citizens that are abroad at the moment are allowed to volunteer. Apparently only foreigners are a risk, not Japanese. Haha. Racism at its finest.

[Sithara007]

I hope the games get cancelled and Japan loses a lot of money.
Its such a joke they want to let in 10000 or more athletes and staff but somebody like me with a wife in Japan is not allowed to enter for 1 year now.

All they care about is money.
I was registered as a volunteer for the games, now I saw they only use 500 foreign volunteers and people abroad are obviously not allowed. But Japanese citizens that are abroad at the moment are allowed to volunteer. Apparently only foreigners are a risk, not Japanese. Haha. Racism at its finest.

A number of countries have imposed such restrictions and the case with Japan is not unique. Since you are not a Japanese citizen, you can't argue that the government should treat you on par with the citizens of that country. And I don't think it has anything to do with racism. They are restricting the entry on the basis of citizenship, and not based on the color of the skin, race or ethnicity. Wait for some more time. Hopefully the policy will be changed once the number of new infections fall.

[Maasdamer]

I hope the games get cancelled and Japan loses a lot of money.
Its such a joke they want to let in 10000 or more athletes and staff but somebody like me with a wife in Japan is not allowed to enter for 1 year now.

All they care about is money.
I was registered as a volunteer for the games, now I saw they only use 500 foreign volunteers and people abroad are obviously not allowed. But Japanese citizens that are abroad at the moment are allowed to volunteer. Apparently only foreigners are a risk, not Japanese. Haha. Racism at its finest.

A number of countries have imposed such restrictions and the case with Japan is not unique. Since you are not a Japanese citizen, you can't argue that the government should treat you on par with the citizens of that country. And I don't think it has anything to do with racism. They are restricting the entry on the basis of citizenship, and not based on the color of the skin, race or ethnicity. Wait for some more time. Hopefully the policy will be changed once the number of new infections fall.

No country has treated valid visa holders for over 1 year like this.
Every country let visa holders back as some point, only Japan makes it a hard fight.
I have a valid visa and permanent residency. My life, my job (not anymore thanks to Japan), my family is in Japan.
I am a long time tax payer in Japan as well.

Its clear racism, obviously you have never been to Japan and you have no knowledge of Japanese politics towards foreigners.

Also, why would you think the covid numbers spiked AFTER Japan announced the games will take place 2021? The provided wrong numbers because they hoped they games would happen in 2020. When they gave up that hope suddenly real numbers were provided. By the way, the numbers now are still wrong as only 5% of people in Japan actually get tested.

[coinlocket$]

It is now official.

Athletes who will go to the next summer games must and they will be vaccinated (with Pfizer).
The games will starts soon and they will be from the 23th of July till the end of the 1st week of August.

[acroman08]

It is now official.

Athletes who will go to the next summer games must and they will be vaccinated (with Pfizer).
The games will starts soon and they will be from the 23th of July till the end of the 1st week of August.

glad to hear it, but would have been better if they canceled it. I guess japan couldn't handle losing the revenue they'll get from this event especially on how much they spent building the facilities for the Olympic athletes.
I'm curious whether the side effect of the vaccine could affect the overall performance of the athletes even though the Olympics is still almost 3 months away.

anyway, I hope everything goes well and I am rooting for the Philippines Athletes!