IMF lifts Japan's 2023 growth forecast to 2% on brisk inbound tourism

The International Monetary Fund on Tuesday lifted its 2023 growth forecast for Japan to 2 percent, up from its 1.4 percent prediction in July, citing "a surge in inbound tourism" as one of the major factors. As more foreign travelers choose Japan as a holiday destination, drawn by their much-increased spending power due to the yen's recent weakness, the notable revision to the IMF's World Economic Outlook report is also attributed to pent-up demand, a pickup in auto exports and the impact of long-standing accommodative monetary policies. After being hit hard by supply chain disruptions during ...