Tokyo Olympics without foreigners will hit service sector

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The boost malls and restaurants were counting on to recover lockdown-related losses will not materialise

Women wearing protective masks, amid the coronavirus disease outbreak, ride an escalator at Miyashita Park at Shibuya in Tokyo, Japan, in this March 9 2021 file photo. Picture: REUTERS/KIM KYUNG-HOON

But the number of foreign visitors has dropped from nearly 32-million in 2019 to almost zero, causing the government to halt a spending survey that showed their consumption that year was worth $44bn. Up to 8-million tourists visited Shibuya’s bustling clubs and cafes in 2019, and ward chief Ken Hasebe expected 10-million in 2020 before the coronavirus scuppered those plans.

Its developer, Tokyu Corporation, spent $1.1bn on projects in Shibuya in the three years through 2020.

 

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