Japan To Use Tourism To Revive Economy

Above, the Shin-Saikai Bridge in Kyushu near Sasebo City.  Photo by Armand Vaquer.

The rebuilding of Japan following the devastation of World War II made Japan a powerhouse economically during the post-war years.

The rebuilding of Japan after last year's earthquake and tsunami is looked upon as an opportunity to make Japan a powerhouse in the tourism industry.

The Independent (United Kingdom) has an interesting article on this subject:

Even by the most generous measure, travel and tourism today provides no more than 7 per cent of the country's GDP. Ken Okuda, Japan's vice-minister for land, infrastructure, transport and tourism, says that the government wants to double the number of visitors to the country to 18 million within four years
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"Japan continues to be a safe and secure destination, just like it was before the earthquake," he says. "But there is greater room for growth. This [tourism] represents a star of hope." 

Japan is looking to diversify an economy that is best known as an industrial powerhouse, but for decades has been badly drained by an ageing population and declining birth rate. Sir Martin Sorrell, chief executive of the advertising group WWP, is typically blunt: "Japan is the third largest economy in the world, but that economic engine hasn't really functioned for 20-odd years." 

The industrial strength was the result of reconstruction in the aftermath of the Second World War; now the earthquake will be used to rebuild the country as a tourism hub.

It is pretty ambitious for Japan to try to boost tourism more than 7 per cent of its GDP.  It will be interesting to see these plans come to fruition.

One thing that would be a big help: getting the foreign exchange rates between the yen and other currencies in a more equitable position.

To read the full article, go here.