According to Standard & Poor's, Tokyo's economy compares well with the national GDPs of G7 member countries, attracting a large number of national and international enterprises. Factors that led to the double A rating include Tokyo's sophisticated financial management practices and its robust local tax base, which lies at the heart of the Japanese and Asian economy, and also provides the city with a strong independent source of revenue.
TOKYO 2016 CEO and Chairman, Dr. Ichiro Kono welcomed the news as an indication of the strong portfolio of assets Tokyo brings to the bidding competition for the 2016 Olympic and Paralympic Games: “It is a great honour for Tokyo to receive so high an evaluation from such a well-respected and world-renowned rating body as Standard & Poor’s.
“With this endorsement of Tokyo’s rock-solid financial infrastructure, we are more confident than ever that we will deliver the most compact Olympic and Paralympic Games in history, ushering in an incredible sporting, social, economic and environmental golden era for the benefit of the city, Japan and the Olympic Movement.”
