How Japan stands to lose £11BILLION if the Olympics is cancelled due to coronavirus, while private firms will lose an additional £6.4bn

UK Daily Mail ^ | March 3, 2020 | Tim Sickkings

[C19fan]

Japan could lose more than £11billion if the Tokyo Olympics are cancelled over coronavirus fears, while private firms face further losses of more than £6billion, it is feared.

The £9.6billion bill for the Olympics including huge taxpayer spending on a new national stadium would be regarded as wasted if the Games are cancelled.

In addition, experts say that Japan's tourism industry could suffer a £1.7billion blow if the expected millions of spectators do not materialise - bringing Japan's total losses to £11.3billion.

On top of that, private companies have already shelled out billions for sponsorship and media contracts while the global insurance industry would also face a hefty bill.

[C19fan]

That is why I think the Olympics are a go hell or high water.

[TexasFreeper2009]

why the heck would we cancel the olympics or anything else over a new variant of the flu going around? ROFL

[McGavin999]

When are they?

[rktman]

They could ask mittens to step in.

[oldasrocks]

This crap is all over the world now. Go ahead and have the Olympics. God Forbid anyone should lose money.

[CondorFlight]

Just postpone for a year. The tourists will come back next year.

If there is a plague year, just cross it off the statistics and as far as those are concerned, it was so irregular as not to be counted.

[jeffc]

In addition, experts say that Japan's tourism industry could suffer a £1.7billion blow if the expected millions of spectators do not materialise...

So they would "lose" 1.7B pounds that they never had.....

[Slainte]

The IOC has a press conference starting shortly.

IOC live feed- https://www.youtube.com/watch?v=p1WWc8tAAXM

[hanamizu]

Granddaughter had tickets to go to Japan and Korea in April. Airlines canceled her tickets. I doubt a lot of people are going to want to get that close to the epicenter.

[trebb]

Yep - all that new construction and nobody to enjoy it...I wonder what the actual cost/returns ratio is for folks that host the Olympics

[null and void]

That is why I think the Olympics are a go hell or high water.

IF Japan cancels, what does that tell us?

Bring Out Your Dead

Post to me or FReep mail to be on/off the Bring Out Your Dead ping list.

The purpose of the “Bring Out Your Dead” ping list (formerly the “Ebola” ping list) is very early warning of emerging pandemics, as such it has a high false positive rate.

So far the false positive rate is 100%.

At some point we may well have a high mortality pandemic, and likely as not the “Bring Out Your Dead” threads will miss the beginning entirely.

*sigh* Such is life, and death...

If a quarantine saves just one child's life, it's worth it.

[ProtectOurFreedom]

“So they would “lose” 1.7B pounds that they never had.....”

I was just going to write the same thing. Money you never had is hardly a LOSS, is it? That’s almost as bad as writing “It was one-hundred times less.” Silly writers.

[rdl6989]

Right, no way do they cancel the Olympics.

[Slainte]

"We remain very confident with regard to the success of these Olympic Games Tokyo 2020."

Thomas Bach IOC president

[neverevergiveup]

Why not just move them to next year?

[CharlesWayneCT]

My personal opinion is that, before cancelling, they will seriously consider doing them with no, or limited, audiences.

This will still be a major hit on finances, as hotels were expecting to be full, and people had to eat and get places.

But they will still get the TV revenue.

They can protect the athletes at the games, and minimize interaction, so the athletes can still compete, and everybody can watch on TV.

They could populate the stands with groups of people that have been screened, if they want the feel of a real competition with people cheering. It will be like some of the preliminary rounds of lesser sports, where you notice the stands only have a few hundred people.

Just a thought.

[Grimmy]

We lose more than that every year just to payouts to illegal aliens abusing the “social safety net”.