Canceling Tokyo Olympics would lower Japan GDP growth by 1.4%: estimate

If the ongoing spread of the new coronavirus forces Japan to cancel the Tokyo Olympics, it would reduce the country's annual gross domestic product growth by 1.4 percent, according to an estimate by a securities firm.In a report released Friday, SMBC Nikko Securities Inc. projects that the Tokyo Games would create demand through spectator consumption and the staging of sporting events totaling 670 billion yen ($6.4 billion) and the cancellation of the Olympics would sap Japan's GDP by about 7.8 trillion yen.The company believes that the Olympics will be canceled if the spread of the deadly …READ FULL ARTICLE