Tokyo 2016 – Financial Stability, Commercial Opportunity

Tokyo 2016 officials told the International Olympic Committee (IOC) evaluation commission inspecting the city’s 2016 Summer Olympic bid, it’s offering the Olympic Movement both financial security and a major commercial opportunity in what it calls the “fastest growing region of the world”.

Tokyo 2016 bid officials said Japan’s corporate community, made up of three million companies, are active supporters of sport and are financially strong, with 47 of the Fortune 500 companies based in Tokyo – more than other leading cities including London, New York, Paris, Beijing and Seoul.

It’s financial plan starts with its fully sustainable Games concept that makes maximum use of existing competition venues and infrastructure. Tokyo 2016’s bid has 23 out of 34 venues existing, with the development planned for five permanent state-of-the-art new venues and six temporary venues, which it says guarantees a sustainable legacy showcase for the Olympic Movement.

Tokyo 2016 considers itself recession-proof because the Tokyo Metropolitan Government has already secured in the bank 400 billion Yen for developing venues and Olympic infrastructure.

Tokyo 2016 has promised to maximize ticketing revenue through an effective sales strategy, while eliminating ambush marketing. Tickets will start at $9 and lower prices will be offered for children to ensure youth is a key focus of the Games.

Dr. Ichiro Kono, Chair and CEO of Tokyo 2016 said, “our Organizing Committee’s budget is fully guaranteed by our National Government and we have been both thorough and conservative in the estimated revenues Tokyo 2016 will generate”.

Tokyo 2016 also presented the IOC Evaluation Commission its themes of Political and Economic climate and structure, Legal aspects, and Customs and immigrations formalities.

Tokyo 2016 said it enjoys strong political support at all levels in Japan. The National Government has given Tokyo 2016 its full and guaranteed backing, stating its commitment to provide “all embracing support” for the Games.

The government has also guaranteed to provide, at no cost to Tokyo 2016, full security, medical, customs, immigration, and other government-related services required for the 2016 Games. Both the upper and lower Houses of Parliament adopted a resolution providing full support for the Tokyo 2016 bid.

According to Tokyo 2016 no visas will be required for passport carriers who hold Olympic identity and accreditation cars, no work permits will be required, and all items imported for Games-use will be free from customs duty.