Japanese IRs to push GDP 1 pct

According to a Japanese lawmaker, IRs will push gross domestic product (GDP) 1%, while also drawing 60 million foreign tourists to the country.

Japan.- The archipelago still awaits for the industry, but Japanese integrated resorts (IRs) will soon arrive in the country. Despite some opposition rose against them, one lawmaker is optimistic about them.

Takeshi Iwaya, secretary-general of a multi-party committee in Japan’s House of Representatives forecasts great things.

“It’s still too early to say what economic benefits integrated resorts will generate. However, I am personally hopeful they will eventually push up Japan’s GDP by 1% or more. Not just by hosting a slew of international conferences but by increasing the number of tourists from abroad,” he said. He also forecasted 60 million foreigners would travel to the country thanks to Japanese IRs.

“The casino law stipulates that envisioned integrated resorts be equipped with not just casinos,” GGRAsia quoted him. “(Also) hotels, recreational areas and convention halls. This is critical for Japan, as the nation is fast lagging behind its rivals overseas in luring international conferences and exhibitions. That’s partly due to a lack of spacious venues that can host large-scale events.”

The segment is soon to arrive in the country and the government is getting ready for it.