Osaka targets 20 million visitors a year after IR opening
Osaka city’s mayor Hideyuki Yokoyama talked about the city’s expectations.
Japan.- Osaka city mayor Hideyuki Yokoyama has said he hopes for 20 million foreign visitors annually after the MGM Osaka integrated resort (IR) opens, possibly in autumn 2030. He said in a speech to the Kansai Association of Corporate Executive said that even 10 million inbound tourists a year could stimulate consumption amounting to JPY1.1 trillion (US$7.73bn).
The mayor that the amount of meetings, incentives, conferences and exhibitions (MICE) space at MGM Osaka would triple to 60,000 square metres (645,835 sq. feet) within 10 years of the resort’s launch.
Work began on the IR on Yumeshima, an artificial island in Osaka Bay, earlier this month. However, there are concerns about timing. Preparations for an expo to be held next to the site on April 13, 2025 have been set back by rising costs and labour shortages.
MGM Resorts has partnered with Orix Corp, a Japanese company, for the resort and casino. It was expected to cost JPY1.08tn (US$8.38bn). However, the initial investment is expected to rise by JPY190bn (US$1.29bn).
