Half a century ago, the Tokyo Olympics ushered in a golden age for Japan¡¯s capital, as industrial prowess made it the largest urban complex in history. Now the games are returning to mark the end of that growth.
¡°This will be the final festival,¡± says Yasunari Ueno, 52, Tokyo-based chief market economist at Mizuho Securities Co.
In Tokyo¡¯s Shinjuku district, the ground has been cleared for a new national stadium, surrounded by a gymnasium, swimming pools, tennis courts and a baseball arena. Elsewhere, transport systems are being upgraded and new roads, apartments and hotels are being built. The whole infrastructure upgrade could cost ?2.7 trillion ($22 billion) and together with the games create more than 200,000 jobs, according to Mizuho Research Institute Ltd.
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