DIRS.INFO The most relevant business & tech news

☆ The yen may be weak, but Japan's tourism isn't expected to get a 'bona fide' rebound without Chinese visitors
▼ + stars: | 2022-10-13 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

After more than two years of strict Covid-19 border controls, Japan reinstated visa-free travel to 68 countries on Tuesday. After more than two years of strict Covid border controls, Japan reinstated visa-free travel to 68 countries on Tuesday. With the easing of restrictions and the depreciating yen, tourism to the country will return quickly — especially from Asia, said Jesper Koll, director of financial services firm Monex Group told CNBC. "The cheapness of the yen obviously increases the probability of tourism contributing greatly to the economy," Koll said. "As the restrictions get rolled back further, and the capacity of inbound flights open up, I expect that we will see inbound spending and inbound tourism accelerate very, very quickly."

Hong Kong/Tokyo CNN Business —A quarter of a century ago, a major financial crisis ripped through Asia, shaking its economies to the core. “I do not expect a repeat of the [1997] Asian Financial Crisis this time,” said Khoon Goh, head of Asia research at ANZ Research. “Importantly, there is not the same build up of foreign denominated debt in recent years, which was one of the triggers of the Asian Financial Crisis,” Goh added. China and Japan have the world’s two biggest foreign exchange reserves, holding $3 trillion and $1.3 trillion respectively. “Asia’s resilience in the face of the current global storm is partly the result of reform that the Asian Financial Crisis prompted,” Neumann from HSBC said.

Search resuls for: "Monex Group"

2 mentions found