The Japanese government has recently announced an action plan with the objective of increasing consumption by foreign visitors to Japan. This plan, which was approved at a ministerial meeting on Tuesday, focuses on attracting visitors for business, research, and other non-sightseeing purposes. The goal is to enhance their spending to ¥860 billion by 2025, representing a 20% increase compared to the pre-pandemic level in 2019. Rather than solely prioritizing the number of visitors, the action plan was developed to introduce a series of measures that encourage higher consumption by foreign visitors. In total, 78 measures will be implemented in three key areas: business, education and research, and culture, arts, sports, and nature.   One of the key objectives of the plan is to increase the number of international conferences hosted in Japan, aiming to reach the top five in the world rankings by 2030. Additionally, the plan seeks to raise the number of foreign visitors who visit...

Japan Sets Ambitious Target to Attract $750 Billion in Foreign Investment by 2030 Japan has unveiled a new action plan to attract more foreign investment and talent in an effort to boost economic growth and enhance its global competitiveness. The government aims to attract 100 trillion yen (approximately $750 billion) worth of foreign direct investment by 2030, which is more than double the 46.6 trillion yen of foreign investment recorded at the end of 2022.   The plan, which aims to capitalize on the country's weak yen to attract foreign investment, also seeks to attract more foreign workers and entrepreneurs, including remote workers commonly referred to as "digital nomads." The move comes as the COVID-19 pandemic and Russia's war in Ukraine highlight the need to strengthen supply chains and ensure national security.   The action plan outlines strategic areas for investment, including semiconductors, digitalization, green technology, and healthcare. To ach...