Japan Special Report - Japan's Bet on Casinos Nov 2014
- Aiming to introduce IRs (Integrated Resorts) in 2020 (the same year as the Tokyo Olympics) as one of the growth strategies for tourism, the Japanese Diet opened the IR Promotion Bill for discussion in the Diet session that began on September 29.
- Given the positive effects in two IRs in Singapore, cities in Japan where IRs are to be developed could see hotel developments and MICE facilities developments, then these would bring more foreign tourists and profound effects on overall consumptions by them.
- If the IRs open in Tokyo and Osaka in 2020 and the foreign tourists to Japan increase at the same level as Singapore, the numbers could grow by about 5% annually nationwide and get in line with the government’s goal of 30 million by 2030.
- Tourist spending by visitors to Japan stands at JPY1.4 trillion as of 2013 and is estimated to expand to JPY4.3 trillion by 2030 which accounts for about 1% of the 2013 nominal GDP (JPY480 trillion).