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Home News

Japan May Relax Travel Restrictions To Boost Yen

by ReportersAtLarge
September 12, 2022
in News
Reading Time: 1 min read
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Japanese Yen
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Japan has barred most foreign visitors for the last two years amid measures to slow the spread of Covid. Last year, overseas visitors were banned from the delayed 2020 Tokyo Olympic Games.

Deputy Chief Cabinet Secretary Seiji Kihara told local TV a weak yen was “most effective in attracting inbound tourism”.

Last week, the yen dropped to its lowest point against the US dollar in 24 years, dropping as much as 1.7 percent.

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He said a cap on daily entries could be lifted in the “not so distant future”.

Japan has barred most foreign visitors for the last two years amid measures to slow the spread of COVID. Last year, overseas visitors were even banned from the delayed 2020 Tokyo Olympic Games.

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However, earlier this month, the number of foreign tourists allowed to enter the country was raised to 50,000 per day from 20,000, and tourists were no longer required to travel with a guide.

Other reports suggest the government may scrap the daily cap on arrivals altogether.

The US dollar has strengthened against other currencies as investors monitor the Federal Reserve’s interest rate hikes.

Meanwhile, the Japanese Passport has remained the most powerful in the world, according to the Henley Passport Index (HPI), compiled by Henley & Partners. Its high ranking was linked to the fact that it avails those who possess it visa-free or visa-on-arrival access to about 193 destinations worldwide.

Tags: BREAKING NEWSJapanJapaneseJapanese YenLatest Business NewsSeiji KiharaTravel
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