Japan will lose 14 billion dollars if it cancels the "Olympics" due to the Corona virus

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Japan will lose 14 billion dollars if it cancels the "Olympics" due to the Corona virus

Japan will lose 14 billion dollars if it cancels the "Olympics" due to the Corona virus
Japan will lose 14 billion dollars if it cancels the "Olympics" due to the Corona virus
British newspaper "Daily Mail" revealed that Japan will face great financial losses if it retracts the decision to host the Summer Olympic Games scheduled for next July and August, due to the spread of the new Corna virus.

"Japan could lose about 11 billion pounds (14.2 billion dollars) if the Tokyo Olympic Games were canceled due to the Corona virus, while private companies could face losses in excess of 6 billion pounds," the newspaper said in a report on Tuesday.

The newspaper added that "the bill to build sports facilities amounted to 9.6 billion pounds, which could go down the drain if the Olympics were canceled."

In addition, experts say that the Japanese tourism industry could suffer losses exceeding 1.7 billion dollars if it did not show the millions of spectators who were expected to come to Japan, and thus the total losses of Japan will be about 11.3 billion pounds.

Private companies have paid billions for sponsorship and media contracts, and the insurance industry will also face a huge loss.

According to the newspaper, it is believed that the total losses of private companies will be about 6.4 billion pounds.

Although the organizers of the course confirm that it is moving forward and the hosting decision will not be reversed, but doubts have increased in recent weeks after confirming that there are 271 cases of Corona virus in Japan, in addition to several hundred others on the "Diamond Princess" cruise ship.

Japan's Olympic Games Minister, Hashimoto, said today that Tokyo's bid to host the 2020 Olympics allows it to postpone the games until the end of this year.

Sources:

Al Jazeera

The Daily Mail 
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