Responding to the success of Tokyo's bid to host the 2020 Summer Olympics, Japan's business and political leaders on Sunday expressed hope the games will boost an economy beginning to show signs of recovery.

Tokyo's selection on Saturday will "cheer up the Japanese people, and above all, bring courage and hope to those in areas affected by the Great East Japan Earthquake," Hiromasa Yonekura, head of the Japan Business Federation, said in a statement.

Yonekura, chairman of Japan's biggest business lobby also called Keidanren, said the nation's economic recovery will be spurred on by the Games, "building on the momentum of a redeveloped Tokyo, improved infrastructure and attracting foreign tourists."