To lift the economy, Japan could lift the cap on foreign tourists

Local reports say that Japanese officials may further relax border controls for foreign travelers as it is a way to boost their economy. Seiji Kihara, the deputy chief cabinet secretary, said that the weak yen was the most effective and attractive for inbound tourism. 

 

The yen slid to the lowest point against the US dollar in 24 years last week. It dropped about 1.7 percent. He said that this situation will lead to a cap on daily entries that could be lifted in the “not so distant future”.

 

Japan had barred foreign visitors because of the measures to slow the spread of COVID in the last two years. Overseas, the visitors were even banned from the delayed 2020 Tokyo Olympic games last year by Japan. The country now has about 50,000 foreigners, up from 20,000, and they are no longer required to travel with a guide. 

 

A few reports suggest the government may scrap the daily cap on tourist arrivals altogether. The US dollar will gain strength against other currencies as investors keep a watchful eye on the Federal Reserve interest rate hikes. 

 

FAQ

• Which currency is gaining strength against the other currencies?

Ans. US dollar

• How many tourists can go to Japan after the tourist limit increment?

Ans. 50,000

• Who is the chief cabinet secretary of Japan?

Ans. Seiji Kihara