Hideo Kumano, chief economist at the Dai-ichi Life Research Institute, predicted that further downgrading of the danger level of COVID-19 would be a necessity. Japan’s government today (May 8) is likely to boost Japan’s economy by 4.2 trillion yen, helped in part by rising tourist arrivals.
Kyodo news agency reports that COVID-19 is now classified as seasonal influenza. The government has abolished the legal authority to request hospitalization or quarantine for those who test positive. Japan has also reopened its doors to foreign visitors. After strictly enforcing border control measures to contain the spread of COVID-19
Mr. Kumano expects Japan’s economy will expand by 4.2 trillion yen, with more than half, or about 2.6 trillion yen, coming from a recovery in inbound tourism, while the other 1.1 trillion yen will come from increased productivity. Because there will be fewer people who are barred from working because of COVID-19.
Close contacts will no longer be asked to quarantine. and give freedom to people who test positive for COVID-19 in deciding whether to stay at home or not Although the government has advised the person to refrain from going out for five days.
In addition, economists have speculated that Foreign visitors to Japan will spend more as the yen weakens. This makes travel and purchases cheaper for people with foreign currency.
By InfoQuest News Agency (08 May ’23)
2023-05-08 07:18:45
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