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Business trends

In spectator-less Olympics, hotel bust drives retail boom

Money saved from rooms and tickets goes to big-screen TVs and designer handbags

A hotel in Chiba Prefecture prepares to host athletes from Europe. Many hotels have been forced to cut rates after the Games' organizer banned spectators for Tokyo area events.   © Reuters

TOKYO -- This month's decision to hold the Tokyo Olympics without fans at venues around the capital has dashed the hospitality industry's hopes of a boost to business, but sales of pricey watches and TVs are on the rise instead as consumers put freed-up money elsewhere.

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