Feb 13 (newsonjapan.com) - Find out why the Integrated Resorts project in Japan is bound to be a raging success. The multi-billion project will transform the local economy in a big way.
What Are the Main Benefits of the Integrated Resort Project?
Have you ever wondered what the Integrated Resort project would bring to Japan? According to international observers, that is a massive economic boost, with the world's gambling elite flocking to enjoy some of the finest casino options. Ask anyone, ask ベラジョン if you will, and you will arrive at the same conclusion – the Integrated Resort is going to have a significant impact on the country's finances, offering a fresh source of revenue that is definitely welcome by everyone in Japan.
Japan Stands to Benefit a Lot
The simple truth is that the upcoming Integrated Resort will be one of the most lucrative investments ever done in the gaming sector – but not only that. According to observers, Japan stands to complete eclipse similar gaming hubs in the region.
Macau, the Philippines and even South Korea are now cognizant of the simple truth that a new giant of recreational fun is rising in the East and Japan, despite some of the internal strife between politicians and citizens, is right on track to benefit from the project.
Even ahead of the first resort, the country is always looking at multi-million investments down the road. According to rough estimations, the net foreign investment in the country should reach over $50 billion within the next 10 years just from setting up the casino sector, bringing in the infrastructure for each respective region.
There will be additional economic windfall as well, of course, and that would come from hiring locals to work at the resorts as well as boosting the regional economies because food and other supplies would be necessary.
These results are only going to go up as Japan will advertise itself as a place where high rollers can come and play.
The High Rollers – The BackBone of Any Casino Economy
Even though Japanese citizens aren't big on playing in casinos – and these games have been mostly looked down upon – it is true that the country is in a perfect position to advertise itself as a haven for high roller players. This is great for at least several reasons, not least of all because this will infuse a lot of money into the economy right off the start.
True, Japan has been very generous with taxing players' winnings, allowing non-residents to simply travel back home with their money instead of taxing them. But in doing so, Japan is not foregoing any revenue – it is, in fact, boosting its standing as one of the hottest destinations out there and that is very likely going to show soon after the integrated resorts start working.
Of course, this could take a while. By early 2021, the first location and construction work should start on time for the first resort which is expected to arrive in 2024/2025. The government of Shinzo Abe and all potential investors have agreed that this would be the best timing to match the World Expo hosted in Japan, which will attract crowds from all over the world.
All things considered, the Integrated Resort holds an immense promise for the economy. The $50 billion in down investments should quickly continue to grow. Of course, places like Macau will probably try to keep up, which will make the competition in the region far more cut-throat. Yet, this is the surest way for casino-goers to benefit from a diverse and exciting portfolio of gaming opportunities.
Until the project comes to fruition, though, there are still some challenges to address – such as picking a venue and generating sufficient cash to pour into development of the first stages of the integrated resort. Reportedly, a total of three IR will be built by 2030.
