Back to the complete issue
Wednesday, 2 June 2021

Tokyo 2020 is coming (but it might not be)

Remember the Olympics? It’s still a thing, apparently, and it’s supposed to be taking place next month. It seems like a long time ago that the world’s athletes last gathered together to ride horses, throw sticks, and run very quickly in circles. It was five years ago, in fact, that the Olympic torch was wending its way through Brazil to its final destination in Rio de Janeiro, as it is now in Japan.

Japan will have the honor of becoming the first country to host an Olympic Games in the future. The Olympics, of course, is supposed to be held every four years, but thanks to covid Japan is being forced to host the 2020 Games in 2021. This isn’t likely being seen by the Japanese government as much of an honor though. With some estimating Tokyo 2020 to be the most expensive Olympics ever, you can understand why officials are eager to push past the pandemic and avoid delaying the event for another year. After all, USD 16 bn is rather a lot to spend on some buildings that risk becoming the playgrounds of edgy urban explorers a few years ahead of schedule.

The Games are still not certain to go ahead though: As we explain below, there are plenty of Japanese people that are slightly peeved at the IOC’s perceived determination to go ahead with the event, massive covid outbreak or no massive covid outbreak. For the moment at least, the noises coming from the high priests of Olympia (the lords of the rings, if you will) suggest that the show will go on.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.