Selected Cities: Conditions for Selection in Global Competition

Abstract

What kind of economic impact do international mega-events such as the Olympic Games have on the host city? When the decision was made to host the Tokyo 2020 Olympics, an increase in the number of foreigners visiting Japan was expected to boost consumption. Since this consumption included accommodation in hotels and other facilities, there was a rush to build hotels. Furthermore, investment in infrastructure, such as the development of transport networks, accelerated. Such events can often be measured through changes in the property market. What did this mega-event leave behind in the host city when observed in a comparison of pre- and post-event periods? This paper focuses on international capital flow in the property market and examines the expected effects.