IR Lifeline Japan


Japan’s long-awaited casino market has finally taken its first faltering steps amid a COVID cloud of delays and long drawn out decision making. The Integrated Resort proposals seem


to be taking shape after a wavering start as the prefectures announce deadlines and operators submit their proposed plans.


Prior to the COVID-19 crisis Japan was slowly climbing back up the


economic ladder after its


economy collapsed in late 1991. At the time Abe introduced a


priority now is to pull a country back out from a COVID economic induced coma. Suga plans to expand testing and procure vaccines by the first half of 2021 and revitalise regional economies by raising the minimum wage, introduce agricultural reforms and boost tourism.


Japan was already struggling with low economic growth. Te country has a declining population and high proportion of elderly citizens plus a host of natural disasters. Just before the crisis Japan was still recovering from the affects of typhoon Hagibis.


comprehensive policy package, dubbed


Abenomics, which aimed to revive the Japanese economy from two decades of deflation, recession and slow growth.


Japan is the world’s third largest economy but saw its GDP fall 7.8 per cent in April to June last year from the first quarter. Te Japanese economy bounced back slightly in Q3 2020 after it grew an annualised real 22.9 per cent from the previous quarter. Private consumption, which accounts for more than half of Japan’s GDP, grew by 5.1 per cent. In Q2 the economy shrank an annualised 29.2 per cent which is said to be the worst contraction on record. One of the main factors was a decline in domestic consumption which accounts for more than half of Japan’s economy. Exports also dropped sharply.


WIRE / PULSE / INSIGHT / REPORTS P49


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