The International Olympic Committee and the Tokyo 2020 Organising Committee have decided to postpone the Tokyo 2020 Summer Games to the summer 2021 due to the coronavirus pandemic. The Olympics Games will keep the name Olympic and Paralympic Games Tokyo 2020.
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The nations withdrew in the backdrop of limited international travel, difficulty in training and exposed risk of contracting or spreading the disease. Tokyo was spending $12.6 billion to host the Games and a postponement could cost it $6 billion as the short-term period loss. It will also be a bitter blow to sponsors and major broadcasters who rely on this four-yearly event for critical advertising revenue.
