September 2021
Survey of Corporate Attitudes towards the Tokyo Olympics and Paralympics
Anticipating the legacy of the Tokyo Olympics: 8.8 trillion yen sales increase in the next five years
— Many companies in the “Transportation and Warehousing” Industry, including the travel sector, expect a future effect —
Introduction
The Tokyo Olympics and Paralympics, which were postponed for one year from their original scheduled dates, were held from July to September 2021. This “Sports Festival” moved many people, such as in the hosting country, Japan, which won more gold medals than in previous games. On the other hand, the Games were held under restrictions to prevent the spread of COVID-19 infection, such as there being no spectators in many venues, and travel curbs. The results of the Games also differed from the effects that companies expected initially, due to various relevant consumption being sluggish.
Teikoku Databank has conducted a survey on corporate attitudes towards the Tokyo Olympics and Paralympics. This survey was conducted in conjunction with the September 2021 TDB Trends Research.
*Survey period: September 15 – September 30, 2021, Companies Surveyed: 24,516, Valid Responses: 12,222 (Response Rate: 49.9%).
*This survey about the Tokyo Olympics is the 4th such survey, following that in October 2019.
*Details of this survey can be found on the dedicated Economic Trend Survey website (http://www.tdb-di.com).
Primary points of survey results(summary)
- 1 The percentage of companies whose sales increased through the Tokyo Olympics having been held was 8.6% “before the Games were held”, 4.8% “during the Olympics Games”, and 4.3% “potentially after the Games were held”. Among companies whose sales decreased, the highest percentage, 4.1%, reported their sales decreased “during the Olympic Games”. The average sales amounts were 21.50 million yen, 4.47 million yen, and 6.57 million yen, respectively. It was estimated, on the whole, that companies expect a sales increase of 8.8263 trillion yen in the next five years.
- 2 By industry, looking at the percentage of companies whose sales increased through the Tokyo Olympics having been held, the “Transportation and Warehousing” Industry, including the travel sector, showed the highest percentages in any period. It was observed characteristically in the “Construction” that the average sales amount was highest before the Games were held. By region, “Southern Kanto”, which was the main hosting venue, had the highest percentage of companies whose sales increased in any period, compared to other regions.
- 3 When asked whether holding the Tokyo Olympics was of benefit to the Japanese economy in 2021, 22.4% of companies responded “it was of benefit”. By size, large companies exceeded the overall percentage (22.4%), but SMEs and small-sized companies showed lower percentages. The percentages in “Tokyo” (21.1%), the main hosting venue, and “Southern Kanto” (20.9%) also showed lower than the overall percentage.