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Rory McMillan

The Olympic effect - 2020?

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Luuk Jacobs

The Japanese economy has been for the last 15 years after inflation correction hardly been growing. I can hardly imagine that any (major) sports event can break that trend. It might uplift it for the GDP growth of that year (or potentially the years before if it has meant significant investments in sports infrastructure) but I don't think it has ever pulled any country out of economic hardship and more often has created challenges in the years afterwards (for example Greece that created a deficit of 10% on their government finances the year of the olympics which is still hunting them today (although there are/were clearly more fundamental issues in the economy) and most recently Brazil that has not flourished on the back of the olympics. My personal view is that the Olympics (and other sports events) have become more of a great "party" than anything that can boost an economy.

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