COVID-19: potential cost for the Olympics 2020, by sector
The COVID-19 pandemic at the beginning of 2020 hit the sports industry hard. Many professional leagues across the globe suspended their seasons and events have been cancelled. The Olympic Games were due to take place in Tokyo at the end of July 2020 but, on March 24, the International Olympic Committee (IOC) took the decision to delay the Games until 2021. With the future of the event still up in the air, the city of Tokyo stands to lose a potential 597 billion yen which it has invested into hosting the event.
