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Holding the Tokyo Olympics and Paralympics without spectators would result in an economic loss of up to ¥2.4 trillion in Japan, said Katsuhiro Miyamoto, an honorary professor at Kansai University.

According to his estimates released Friday, holding the Tokyo Games behind closed doors would cause a loss of ¥381.3 billion in spending related directly to the games, or 90% of the original projection for the events.

Because of people’s waning enthusiasm for the quadrennial sporting events, stimulus effects on household consumption expenditures will halve to ¥280.8 billion and corporate marketing activities will be dampened.

Economic gains from promotional sporting and cultural events after the games will also be reduced by half to ¥851.4 billion.

Any move to limit or ban spectators would also lead to weaker tourism demand and fewer business opportunities.

Meanwhile, economic benefits from building venues and other Olympics preparations have already been seen, the professor found.

Miyamoto has previously released calculations pointing to a loss of about ¥4.5 trillion if the Tokyo Games are canceled, as well as a loss of about ¥640.8 billion if the games are postponed by a year.

A calculation for a scenario in which the number of spectators is reduced by half estimated a loss of about ¥1.4 trillion.

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