LIVE FROM BUENOS AIRES – Asia Rising’s Team is here to help put this historic decision into perspective for Asia and the world as Tokyo is selected to Host The 2020 Summer Olympics, officially known as the Games of the XXXII Olympiad.

Asia begins in Istanbul which straddles the East and the West across the Bosporus River and essentially ends on the coast of Japan, making Tokyo the last capital city on the continent’s edge. Therefore once the International Olympic Committee eliminated Madrid from the running to host the 2020 Olympics it meant that regardless of who won, Turkey or Japan, the 2020 Olympics would be in Asia, joining Pyeongchang, South Korea which will host the 2018 Winter Games.

This shows that the International Olympic Committee understands what many business leaders, cultural influencers and our own Host Vikrom Kromadit has been saying for years… the future belongs to Asia.

For a Host City having the Olympics is always a mixed-blessing. It confers international respect and global attention but it also comes with expense, inconvenience and a significant amount of risk. Organizers in Tokyo stressed the Japanese reputation for savvy business skills and fastidious management, while Istanbul’s team argued that their city should be rewarded for it’s historical importance, cosmopolitan charm and recent economic success. A planned new airport and much needed highway and traffic management infrastructure programs helped Istanbul’s case. In recent years Istanbul has been one of the world’s hottest tourist destinations while Tokyo has suffered under the effects of the earthquake and tsunami and the aftermath of Fukushima.

But after significant deliberations, the IOC chose Tokyo over Istanbul and Madrid to host the 2020 Olympics. Both Istanbul and Tokyo impressed the IOC and our Team in Buenos Aires says the decision was close. Tokyo won the first vote but failed to get an absolute majority so there was a run-off between Madrid and Istanbul which Istanbul won. This meant regardless of how the committee voted the 2020 Olympics were coming back to Asia.

In the end though, the IOC selected Tokyo for it’s business-centric approach, the city’s long reputation for efficiency and to recognize Japan’s place on the world stage. With the world’s third largest economy Japan is a major player in the world community and our Team says the delegates in Buenos Aires wanted to recognize the hard work and success of the Japanese people.