Economics
In Horse Racing, an Unlikely Indicator for the Japanese Economy
- Economists track JRA revenue for insight on growth, wages
- One of biggest horse races of Japan’s calendar is on Dec. 22
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It’s that time of the year when Japanese economists and analysts gather to draw parallels between the country’s economic health and an unlikely indicator: Horse racing.
The Arima Kinen, one of the biggest races in the Japanese calendar, is set to take place on Dec. 22, probably attracting tens of thousands of spectators to the track where it’s held in Chiba, east of Tokyo. The crowd will include Tatsuhiko Yoshizaki, chief economist of Sojitz Research Institute Ltd., who goes to the race every year and takes a keen interest in the economics of the sport.