What Happened After much deliberation, Prime Minister Shinzo Abe on March 24 announced the delay of the 2020 Tokyo Summer Olympic Games in light of the open-ended COVID-19 pandemic. The games are still set to be held no later than summer 2021. Why It Matters Japan's decision to postpone the Tokyo Summer Olympics will further damage an economy already reeling from COVID-19, increasing the likelihood of massive stimulus spending and consumption tax relief. Globally, the cancellation of the games will serve as a bellwether for countries and institutions still on the fence as to whether they should proceed with planned summer events, likely spurring a wave of cancellations and delays in conferences, gatherings and celebrations not already off the books. Japan has tried to walk a middle line in terms of domestic restrictions related to COVID-19.