2016年6月29日水曜日

Q4. The big influence on the economy in Japan: good or bad?

The simple answer will be: the Tokyo Olympics in 2020 have the big influence on the economy in Japan, but whether the influence on Japan will be good or bad depends on the position in the society and the situation.

According to the Tokyo Olympics Association, they think that we should hold the Olympics and Paralympics not only for the sports festival but also for the opportunity to develop the economy and technology more largely, especially in Tokyo as one of the most biggest business city. Also, the Tokyo Olympics bring all over Japan the big economic effort. Actually, the level of economy in Japan is lower in the developed countries and there are economic disparities which depends on the population concentration in the city and the development of the aging in the countryside. In addition, the Tokyo Metropolitan Government predicted that the economic effects by the Tokyo Olympics will be 3 trillion dollars and the Institute for Urban Strategies thought that in January in 2015 it predicted  the economic effects to be ¥19.4 trillion and it is called "dream effect". Hiroo Ichikawa, an executive member of the Mori Memorial Foundation’s Institute for Urban Strategies thinks that this "dream effect is big and this effect and the flourished events will be seen in every city which has won hosting the Olympic Games. So from these perspectives, through the Tokyo Olympics we can expect the good influence on Japan.

On the other hand, there are some opinions which think that Olympics give us the bad influence on economy in Japan. Although there are some researches which found that The Olympic boost contributes to growing evidence of economic recovery with annual GDP growth of about 4 per cent, the Olympic Games demands for remarkable amounts of investment of the government. Especially, Japan is now the indebt and recession country so in spite of this situation there is the difficulty investing such the amounts of money.

Also, there are some ideas which thought that there is little impact on the economy in Japan.
According to the Securities company Nomura, it estimates that the influence on Japan by the Tokyo  Olympics will be 0.5 per cent of GDP which is very little change.

As for the two sources, the former is the Mr. Matsutani's article and the latter is the Simon Read's article, I thought that these are very reliable.
In terms of the former one, I found that this article mainly described on the points which agree with the good effects caused by the Tokyo Olympics with the statistics and in very detail.
As for the latter one, there are both the pros and cons of the Tokyo Olympics from the economic perspectives. This article also described in detail about the cons of the Tokyo Olympics in terms of the economy, with using the statistics of GDP.

Although it was difficult to search for the information which is related to the economy with very little knowledge, I found that there is the clear evidence of both sides: agree with the Tokyo Olympics or not. To consider the Tokyo Olympics from the point of view of economy, we should know much more about the present economic situation in Japan. From these statistics, I think that although it is very small, there are somewhat influence on the Japanese economy through the Tokyo Olympics so I think that Japan should host the Tokyo Olympics to flourish Japan in terms of economy.




【Citation】

 
  • Read, S. (2013, September 14). Will Tokyo's 2020 Olympics kick-start Japan's economy? Retrieved June 29, 2016, from http://www.independent.co.uk/money/spend-save/will-tokyos-2020-olympics-kick-start-japans-economy-8815432.html

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