Author: Jo Lodder, Founding Partner at JNW Properties
In an exciting announcement from the Japanese Ministry of Health, Labor, and Welfare, it has been revealed that all COVID-19 border controls in Japan will be terminated starting from May 8, 2023. This decision marks a crucial step toward a new phase of normalcy for the country. As the founding partner at JNW Properties, I am thrilled to discuss the positive implications of this move for Japan's tourism industry, its economy, and our business operations, particularly regarding rental incomes and property prices. Moreover, the reopening of borders with China adds further significance to this milestone.
Revitalizing Japan's Tourism Industry:
The lifting of COVID-19 border controls is poised to inject new life into Japan's tourism sector. After experiencing a sharp decline in foreign visitor spending in 2021, Japan is now well-positioned to attract a renewed influx of international tourists, including those from China. The revival of inbound tourism will not only boost revenue for the tourism industry but also breathe vitality into local businesses, hotels, restaurants, and various tourist attractions that have been adversely affected by the pandemic.
Japan's decision to end border control measures aligns with its goal of reviving the economy. Tourism plays a vital role in Japan's GDP, and the resurgence of inbound tourism we hope will provide a much-needed economic boost, as increased spending by foreign visitors should stimulate various sectors. Local businesses, particularly those reliant on tourism, should expect to witness a surge in consumer activity. This revival of economic activities, combined with the influx of tourism revenue, will create employment opportunities and foster overall economic growth in the country.
Impact on JNW Properties:
At JNW Properties, we are enthusiastic about the opportunities that the lifting of COVID-19 border controls will present to our business. We are confident that with the expected increase in demand for rental properties resulting from the rise in tourism presents a favourable market for property owners and property management companies. Both short-term rentals and long-term leases are expected to experience higher occupancy rates as international visitors seek accommodation. This surge in demand will contribute to higher rental incomes for property owners and generate growth opportunities for our business. It's an encouraging time for property investors and those involved in the real estate sector in Japan.
Implications of Opening Borders with China:
The reopening of Japan's borders with China holds significant implications for Japan's tourism industry, economy, and our business. China has been a major source of tourism for Japan in recent years, and with the lifting of border controls, we anticipate a significant increase in Chinese tourists. This influx will contribute to the recovery of the tourism industry and drive economic growth, as Chinese visitors engage in various activities, including shopping, dining, and exploring cultural sites. For JNW Properties, the rise in Chinese tourists will further strengthen the demand for rental properties and potentially lead to an appreciation in property prices, benefiting property owners and investors.
Japan's decision to end COVID-19 border controls signifies a pivotal moment for the country's tourism industry and economic revival. The revival of inbound tourism will not only stimulate economic growth but also rejuvenate local businesses and attractions. At JNW Properties, we are optimistic about the increased demand for rental properties, leading to higher rental incomes for property owners. Furthermore, the reopening of borders with China presents a significant opportunity for growth in tourism and potential appreciation of property prices. As we embrace this new phase, we are confident in the positive impact these developments will have on Japan's tourism industry, economy, and our own business operations.
Jo Lodder is a trailblazer in every sense of the word. As the co-founder of JNW Asia, a property marketing company focused on Niseko projects, and the first person in history to complete the HK5Trails, Jo has proven time and time again that he's not afraid to take on new challenges. But what sets Jo apart is his heart for philanthropy and his dedication to helping others. Through his work with the Run for Freedom movement, Jo is making a real difference in the lives of disabled individuals around the world. Jo is a true inspiration, and we're proud to have him leading the charge at JNW Asia.
Run for Freedom Donation Page
Jo's quote for today
"Life is a canvas, and you are the painter. Don't just exist, create a masterpiece with every stroke of your brush."
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JNW ASIA is a property marketing and sales company supporting our projects in Niseko, Japan, and Koh Samui in Thailand.
We only sell properties that are built and managed in places we know and love. That way we can offer the most beautiful locations and the best ways to make the most of them. We’ve done our job if you come to love these places as we do.
We also offer our expertise to those needing help with managing land and property of their own.