Nov. 2019
Survey of Corporate Attitudes Towards the Tokyo Olympics (2019)
46.8% acknowledge the Tokyo Olympics is effective for sustainable growth of the Japanese economy
— Over 10% of companies in Tokyo considering scheduling vacation and staggered commuting for work style during the Olympics —
Introduction
The Tokyo Olympics and Paralympics (hereinafter, Tokyo Olympics) will be held from July to September 2020, and an economic ripple effect is expected not only in the host city, Tokyo, but also nationwide. It is also said that the Tokyo Olympics will bring various positive effects, such as further promotion of sports, and efforts towards world-leading utilization of renewable energy. On the other hand, incidents such as transport disruptions and increases in cyberterrorism that may be detrimental to companies are also anticipated.
Teikoku Databank has conducted a survey on corporate attitudes towards the Tokyo Olympics. This survey was conducted in conjunction with the October 2019 TDB Trends Research.
*Survey period: October 17 – October 31, 2019. Companies Surveyed: 23,731. Valid Responses: 10,113 (Response Rate: 42.6%). This is the third survey on the Tokyo Olympics, following those of October 2013 and May 2016..
*Details of this survey can be found on the dedicated Economic Trend Survey HP (http://www.tdb-di.com).
Primary points of survey results(summary)
- 1 With respect to the Tokyo Olympics’ impact on their own business performance, 15.0% of companies responded “positive impact,” and 10.5% responded “negative impact.” However, 56.1% of companies responded “no impact.” According to the responses of “positive impact” by region, “South Kanto” had the highest percentage at 19.9%, followed by “Kinki” (17.5%) and “Tokai” (12.7%).
- 2 Over 50% of companies said they have no revenues, meaning “zero yen,” related to the Tokyo Olympics, both to date (from 2013 to 2019) and from now on (from 2020 to 2024). Revenues related to the Tokyo Olympics averaged 419.81 million yen, and will average 443.49 million yen, respectively.
- 3 With respect to the work style during the Olympics, “work as usual” showed the highest percentage, at 51.9% (multiple answers), followed by “not yet considered at this point” (25.9%), “reduce distribution and delivery” (5.8%), “schedule a vacation during the Olympics” (4.7%), and “restrict traveling” (such as business trips and going out for business)” (4.4%).
- 4 46.8% of companies responded that hosting the Tokyo Olympics is “effective” for sustainable growth of the Japanese economy. Conversely, 27.0% responded, “do not think it is effective.”