Osaka Expo to boost consumption by 1 trillion yen: think tank

Tokyo [Japan], March 31: The World Exposition opening next month in Osaka could boost Japan's consumption by 1 trillion yen ($6.7 billion), with spending by foreign tourists outside the event venue accounting for about 30%, according to an estimate by a private think tank.
Of 28.2 million visitors expected by the organisers during the event from April 13 to October 13, 3.5 million visitors from abroad will likely spend some 293 billion yen outside the expo site on transportation, hotels and other expenses, the Resona Research Institute said.
While the Japan Association for the 2025 World Exposition estimates that around 3.5 million visitors from overseas will attend - just over 10% of the total projected turnout - their per-person spending is expected to exceed that of Japanese attendees, bringing economic benefits to Osaka's shopping, dining and nightlife districts, as well as to nearby tourist destinations such as Kyoto and Nara prefectures, according the institute's chief researcher, Hideyuki Araki.
The challenge will be coping with a surge in demand for hotels as the expo's security personnel and management staff will need to be accommodated near the venue, further tightening room availability, Araki said as quoted by Kyodo News.
A shortage of hotel rooms could deter both foreign and domestic visitors, he added, recommending that hotels in neighboring prefectures with relatively low occupancy rates, along with "minpaku" private lodging, or residences or rooms offered for short-term stays, be promoted as alternatives.
Source: Emirates News Agency