Yomiuri Shimbun Staff Writer
Hosting an integrated casino resort in Japan's northern prefecture of Hokkaido would generate an annual economic impact of up to about 550 billion yen after opening, according to a private company studying the impact of the prefecture's potential bid.
According to an estimate made in June, the economic ripple effect caused by the construction investment is projected to be about 1.54 trillion yen, with 93,000 jobs created by the project. After opening, annual employment is projected to range from about 19,000 to 56,000 people.
If the resort attracts 5.6 million to 8.2 million annual visitors, sales at facilities in the integrated resort are expected to reach about 140 billion yen to 410 billion yen. The total annual economic ripple effect is estimated to range from about 190 billion yen to 550 billion yen.
The Hokkaido prefectural government devised a separate estimate in 2017. According to the estimate, annual sales at resort facilities are expected to reach 89.2 billion yen to 156.2 billion yen if the resort is built in Tomakomai. The latest estimate is higher than the prefectural government's because the company incorporated factors such as rising prices and an increase in average spending per customer, driven by growing demand from foreign visitors.
According to a survey conducted by the prefectural government, the municipal governments of Tomakomai and Hakodate have shown interest in bidding to host the integrated resort. Voices have arisen from Hokkaido's economic circles asking the prefectural government to make a bid, or to decide at an early stage.
However, Hokkaido Gov. Naomichi Suzuki has stated that it is necessary to also consider aspects such as the sustainability of the resort and measures to address gambling addiction. "We will examine the matter step by step," Suzuki said.
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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.
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