The 2020 Olympic Games in Tokyo is likely to lift Japanese gross domestic product by an average 0.2 to 0.3 percent each year between 2015 and 2018, the Bank of Japan said Monday.
Researchers at the central bank said investment in construction sector and tourism will support growth. The associated construction investment is forecast to peak through 2020.
Increased tourist arrivals will raise investment in building hotels and transportation. The unemployment rate is forecast to fall to 2.5 percent in 2018 from 3.3 percent this year. Nonetheless, the rate will rise slightly to 2.8 percent in 2020.
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