By Elaine Lies
TOKYO (Reuters) – Japan hoped holding the 2020 Olympics would reprise the triumph of 1964, when it became the first Asian host of the Games and gained a huge economic boost, but the coronavirus has muted the excitement of an event due to start on July 23.
Japanese society is very different from October 1964, when many people saw the Tokyo Games as their country’s proud return to the international community after its crushing World War Two defeat less than 20 years earlier.
Elsewhere, the Beatles made their debut trip to the United States, where “I Want to Hold Your Hand” was their first chart-topping hit, and Martin Luther King Jr was awarded the Nobel Peace Prize.
AT HOME
In 1964, Japanese families were big and busy; nearly half of all households had at least four members and roughly a quarter had six or more. Men lived 67.7 years on average, women 72.9, and one in four people was 15 or younger.
Nominal annual salaries, on average, were one tenth of what they are today, with monthly pay just barely more than expenses. A bowl of ramen noodles cost a tenth of what it does today, but the price of bananas hasn’t changed.
Eager to watch the Olympics, broadcast live for the first time, many bought their first televisions – even though a black-and-white set cost nearly a month’s salary. Buoyed by the Olympic mood, many snapped up other goods, aspiring to own the “Three Cs” – cars, coolers (air conditioners), and colour TVs.
Now, with men living an average of 81.4 years and women 87.5, the nation creaks under the burden of having nearly a third of its population over 65. Only 11.9% are under 15 and nearly a third of all households have only two people.
AT WORK
In 1964, unemployment was nearly non-existent. Men made up a vast proportion of the 47.1 million labour force, half the population; once married, most women became housewives.
More than 30% worked in manufacturing, producing the electronics and cars making Japan’s name, though nearly a quarter still worked in agriculture, forestry and fisheries.
Now, a vast majority work in services and 25% in manufacturing, after jobs flowed to cheaper overseas markets. Only 4% farm or fish.
Both men and women work in nearly 70% of households.
THE ECONOMY
In 1964, Japan was the fourth-largest economy by gross domestic product (GDP) in the world, behind the United States, France and Britain. Just four years later, it was the second largest, a position it held for decades – aside from several years in the early 1970s – until China took its place.
Despite Japan’s economic strides, nominal GDP – at 30.83 trillion yen – was only 6% of what it was in 2020.
The yen was fixed at 360 to the dollar. Now it trades freely and is hovering around 109.
THE WIDER WORLD
In 1964, rigid restrictions on overseas travel, linked to foreign exchange rules, were lifted. Though travellers could only take $500 with them, 510,000 people went abroad – a number that had surged to 20.1 million by December 2019, just before the coronavirus struck. A year later, international travel had slowed to a trickle, and remains that way now.
Even with the Olympics, only 270,000 foreigners visited Japan in 1964. In 2019, there were some 31.9 million foreign visitors, their spending a major economic pillar.
But numbers plummeted in 2020 to a 22-year low and have yet to recover due to coronavirus entry curbs, with all spectators – domestic as well as foreign – now banned from the Olympics.
(Reporting by Elaine Lies; Editing by Nick Macfie)
