How much will Japan lose due to COVID restrictions at Olympics?

Japan will lose 150 billion yen ($1.37 billion) due to the decision to host the Summer Olympic and Paralympic Games in Tokyo without foreign fans, Report informs, citing economists at the Nomura Research Institute.

The figures are based on an analysis of the domestic market and the needs of foreign tourists before the coronavirus pandemic. The hotel and restaurant business will suffer the most. Additional losses may arise if the organizers of the Games decide to impose restrictions on Japanese fans in the stands during the competition.

The Summer Olympic Games in Tokyo this year have been rescheduled from July 23 to August 8.