Cancelling Tokyo Games to cost Japan $17 billion

With the Tokyo Olympics less than two months away, a research institute has estimated that cancelling the Games and Paralympics with an eye on the COVID-19 situation will cost Japan around 1.81 trillion yen ($17 billion). As per a report in Kyodo News, the Nomura Research Institute has warned of even a bigger economic loss if a fresh state of emergency is declared, Takahide Kiuchi, economist at the Nomura Research Institute, said.