Coronavirus outbreak seen hurting Japan's economy
Published on 03 Feb 2020. | Source: thestar.com.my
TOKYO: The deadly coronavirus outbreak will affect Japan’s economy by hurting tourism to the nation, said Fumio Kishida, the ruling Liberal Democratic Party’s policy chief.
“There will definitely be an impact on the economy, ” Kishida told national broadcaster NHK yesterday.
The outbreak “has already been prompting cancellations one after another, affecting the tourism industry.”
The virus is posing a challenge to Prime Minister Shinzo Abe’s target of increasing the number of foreign visitors to 40 million this year, when Tokyo hosts the Olympic games. Chinese tourists accounted for 40% of spending by foreign tourists in japan last year, according to Yuki Masujima of Bloomberg Economics.
Abe said last Friday that Japan will bar entry to people with symptoms of coronavirus effective Feb 1. China banned all outgoing overseas group tours starting Jan 27.— Bloomberg
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