At least President Trump is on record talking about it. What ever happens, the idea and topic is out there and he was thinking ahead.
We were posting about it here on FR weeks ago.
There has already been extensive discussion of the issue in Japan. Bottom line: Japan makes the decision and Prime Minister Abe has said the decision will be made in May. So all the Minister for the Olympics is saying is that the games are still on...until the someone with sufficient authority says they are not.
A couple of random thoughts:
1. There are already massive cancellations occurring in the travel sector and that is going to continue until the coronavirus pandemic is fully controlled. So any business or location dependent on high volume tourist travel for income is in for a bad year. Warm weather will not help; development and mass production of an effective vaccine will.
2. The Olympics is a sporting event that athletes train for years to qualify and compete in. In some sports, the time of peak, Olympics-level performance for an athlete may be very short. In others, the whole process of qualifying either individually or as teams may be timed to the Olympic Games cycle. Delaying the actual competition (even without spectators) may end or greatly complicate these cycles of preparation.
3. Even if held without spectators, the competitions would still be broadcast and that is how the vast majority of people would view them anyway. This doesn’t do anything for lost revenue to the hosting nation. But, if cancelled, Japan is one of the strongest nations economically and, quite frankly, the lost Olympics-related revenue may be just a fraction of what is going to be lost due to all the measures that will be taken in Japan to deal with the coronavirus pandemic.