Businesses have mixed feelings over Olympics
July 27, 2017
TOKYO- Japanese business executives have mixed feelings of expectation and anxiety about the 2020 Tokyo Olympics and Paralympics.
Some pin high hopes on an expected boost to economic growth, while others show concerns about a possible fall in demand after the event as well as a lack of barrier-free facilities that allow disabled and elderly people to travel in comfort.
In the run-up to the previous Tokyo Games in 1964, several expressways and a Shinkansen high-speed train line were built, leading to the country's rapid economic expansion after the end of World War II.
Akio Mimura, chairman of the Japan Chamber of Commerce and Industry, expressed hopes that the coming Olympics will provide the country with chances to tout its software, not hardware.
The 2020 games "will hopefully become opportunities to showcase Japan's excellent technologies to the world and increase the number of repeat tourists to the country," Mimura said.
Naoki Izumiya, chairman and chief executive officer of beverage maker Asahi Group Holdings Ltd. , called on the government to increase public investment related to the games. "There needs to be an environment for faster economic growth," he said.
Construction work by East Japan Railway Co. or JR East, has been underway at stations near Olympic and Paralympic event venues and other places to make them barrier-free. But JR East President and CEO Tetsuro Tomita said, "Barrier-free facilities are still lacking."
Takashi Yamauchi, chairman of construction company Taisei Corp. , warned of a possible economic slowdown after the games. "Companies need to act to defend themselves," he said.
Some construction industry executives are asking the government to take stimulus measures seamlessly after the games, including public investment related to the 2025 World Exposition that the western Japan city of Osaka is bidding to host as well as a high-speed magnetic levitation train project. (Jiji Press)
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