Japan’s 10-day break to fete new emperor may breathe life into economy 0 SHARES Share it! Share TweetBy ReutersTOKYO (Reuters) – Japan’s unprecedented 10-day holiday to celebrate Crown Prince Naruhito’s enthronement is expected to give the sluggish economy at least a short-term boost. A record 24.7 million people – about one-fifth the country’s population – are expected to travel, according to travel agency JTB Corp., mostly within the country. “Japanese are in a festive mood, with the new imperial era beginning and the 10-day break,” said Yoshiie Horii, a spokesman for brewer Asahi Group, which is increasing production of several brands by 5-10 percent ahead of the break. Kumano estimates that domestic travel spending will jump nearly 30 percent from a year ago to 1.48 trillion yen ($13.3 billion).

Source: Manila Bulletin April 23, 2019 05:26 UTC