Yates won the white jersey two years ago and claimed two stage victories for Mitchelton-Scott in the latest edition.
But the 27-year-old, who won La Vuelta back in 2018, believes the 2020 calendar does not favour his chances of claiming a yellow jersey and he will instead race in Italy and Tokyo.
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“The decision to skip the Tour, I enjoyed it this year, it’s a good race, but the way the race schedule is it looks better for me to do the Giro and prepare for the Olympics that way," Yates told Cycling Weekly.
“There’s not really that much time in between the Tour and the Olympics, so I just think for me personally it’s the best way to do it.
“I have my own goals. People like certain races for whatever reason. I really enjoy the Giro as a race so I’m happy with my race programme.
“I’ll go back to the Tour another year.”
Yates was previously part of British Cycling's Olympic Academy programme and raced in the 2010 Commonwealth Games in Delhi for Team England alongside Chris Froome.
This time he will wear the colours of Team GB on a mountainous course that has attracted plenty of big names to Japan in the summer, but first he will target the pink jersey of the Giro that he wore for 13 stages in 2018 only to end up finishing eighth.
“I’m excited to go back [to the Giro],” Yates added.
“It’s a great race. I enjoy being there. The style of racing suits me as well. I’ll have another crack.
"Of course it was my main goal last year and I didn’t pull it off, so I’d like to go there and give what I’ve got.
“The Giro is a race with a lot of charm and character – fans are passionate, the parcours are amazing and it always produces exciting aggressive racing which I enjoy.
“The 2020 route is a very traditional course with a lot of time trailing kilometers, and many high altitude mountain passes.
“We will have to prepare for anything to happen.”
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