TOKYO 2020 : OSAKA to the rescue?
Olympics are hosted by cities rather than the whole country and 2020 was awarded to Tokyo. Events bring in real estate, facilities and sporting venue developments across cities which post the event end up being non-performing assets, difficult to maintain and flat demand post the event.
It is good to note that after the revised plans were submitted by the Tokyo metropolitan government’s 2020 Games planning division, IOC vice president John Coates has called for prioritising sustainability over extravagant infrastructure quoting that “We have suggested to the organising committee that for the preliminaries for basketball, just as for football, they may care to look at cities like Osaka that might have large venues.”
Although this would dilute Tokyo’s initial proposition that promised virtually all events to take place within eight kilometers of the Olympic village, from a long term standpoint this will obviate the need to build facilities which will languish in the post 2020 scenario. IOC has suggested to the organising committee that for the preliminaries for basketball, just as for football, they may look at cities like Osaka that might have large venues.
400 kms to the west of Tokyo, call for Osaka to also hold some events is a surprise although Saitama and other prefectures closer to Tokyo were earlier in consideration..
The revised plans will effectively help cut the bill for the 2020 Summer Olympics by 200 billion yen for Tokyo which is a huge financial plus and with IOC saying “make the maximum use of existing facilities, and that overrides the eight kilometre philosophy to hold the games”, we can look forward to a more distributed, economical and sustainable Olympics event