Due to the coronavirus pandemic, The Tokyo Olympic and Paralympic Games 2020 has been postponed and no later than next summer 2021, says Prime Minister Mr. Abe, after conferring with IOC President Thomas Bach.
The Tokyo Olympics has been postponed to safeguard the health of the athletes, everybody involved in the Olympic Games and the international community. Tokyo Governor Yuriko Koike stated, she had suggested keeping the name "Tokyo 2020" even if the games were to be held in 2021, and the Olympic flame will stay in Japan “as a beacon of hope to the world during these troubled times".
No later than summer 2021
Whereas an exact new date has not been set, the IOC said that the games “must be rescheduled to a date beyond 2020 but not later than summer 2021, to safeguard the health of athletes, everybody involved in the Olympic Games and the international community."
Concerns have been raised about training, qualification and safety from athletes around the world due to country lockdowns. This week Canada and Australia became the first countries to state they would refuse to send athletes to the Tokyo Games if they took place in July. Where countries such and Denmark and Great Britain were unlikely to send a team.
Financial Implications
Japan has spent more than $12 billion on the event, while large sums are also at stake for sponsors and broadcasters. Goldman Sachs estimated this month that Japan would lose $4.5 billion (550 billion yen) in inbound and domestic consumption in 2020 if the Olympics did not take place as planned.
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