Potential economic losses from cancelation of Tokyo Olympics
There is growing public speculation that the Tokyo 2020 Olympic and Paralympic Games will be canceled due to pandemic risk. Even if the Games are held, a decision on how many domestic spectators to allow will not be made until June. With less than two months to go until the event is scheduled to begin, this is highly unusual. In another headwind for the event, the US government on May 24 issued a Level 4 travel advisory?the highest cautionary level?advising its citizens to avoid all travel to Japan because of rising COVID-19 case numbers.