Osaka increases 2024 budget for IR promotion

Osaka increases 2024 budget for IR promotion

Osaka plans to increase its 2024 budget for integrated resort promotion by 9 per cent to JPY655m (US$4.4m).

Japan.- Osaka Prefecture is to increase the 2024 budget for its IR promotion bureau by approximately 9 per cent to JPY655m (US$4.4m) as it prepares for the development of Japan’s first integrated resort (IR).

Outlined in the draft budget for the upcoming fiscal year, the proposed funds would primarily cover personnel costs (83 per cent, or JPY546m). This will support the employment of 49 staff members.

According to GGRAsia, the remaining 17 per cent, or JPY110m, will be allocated to project costs. This includes JPY73m for IR progress monitoring, the work of an IR evaluation committee, and communication with the national government. Some JPY33m is allocated for public relations related to the IR project, and JPY900,000 is for gambling-harm countermeasures.

Despite initial delays, preparatory work began on the IR on Yumeshima, an artificial island in Osaka Bay. Construction is scheduled to commence in 2025 for a 2030 opening.

Osaka city mayor Hideyuki Yokoyama said he hoped for 20 million foreign visitors annually after the IR opening. He said that even 10 million inbound tourists a year could stimulate consumption amounting to JPY1.1tn (US$7.73bn).

In this article:
integrated resorts MGM-Orix