Olympic Games: A heavy burden...

The flight of sponsors, no audience on site, the cancellation of public broadcasts, the multiplication of costs due to the postponement and the management of the health crisis... Things are looking grim for Japan and these Olympic Games.

Tokyo was, according to the International Olympic Committee, the best prepared in the history of the Games. The competition was supposed to allow Japan to reaffirm its status as a global power, showcasing its power to neighboring China. The result is quite different. The initial $7 billion investment has turned into an official budget of $15 billion, which according to some members of the local government would even exceed $20 billion.

And between athletes testing positive for Covid-19, stadiums and brand new hotels that will remain empty, and the loss of revenues for sponsors and the local economy, the extent of the repercussions and losses remains difficult to quantify. The cancellation of the main advertiser, Toyota Motor, also sets the tone: instead of being a strength, these Games are proving to be a terrible economic fiasco.

The not-so-beneficial Olympics (By Amandine Victor)