Tokyo Olympics to boost Japan by as much as $249B

The Bank of Japan announced Monday the 2020 Summer Olympics hosted in Tokyo would boost the Japan economy by as much as 30 trillion yen, or $249 billion.

Construction combined with additional tourism related to the event is expected to increase gross domestic product by 0.2 to 0.3 percent every year between 2014 and 2020.

Seeking to reduce the country’s dependence on nuclear power, Tokyo will spend 45.2 billion yen, or $385 million, on fuel-cell subsidies and hydrogen refueling stations for the Olympics, according to Bloomberg Business.

Read more from Bloomberg Business.