COVID downgrade tipped to boost Japan economy by 4.2 tril. yen

Japan’s downgrade on Monday of the legal status of COVID-19 will likely deliver the Japanese economy a 4.2 trillion yen ($31 billion) boost, driven in part by an increase in the number of inbound tourists, according to an estimate by a private sector economist.

The coronavirus is now treated the same as the seasonal flu, with the government relinquishing its legal authority to ask those who have tested positive to stay in hospital or to quarantine. Japan has already reopened its doors to foreign tourists after enforcing a stringent antivirus border control regime.

Of the 4.2 trillion yen estim...