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Japan aims to draw ¥100 tril foreign investment, digital nomads

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The measures seem based on a fatally flawed assumption - that the presence of lots of rich people improve your economy. In fact, they make it more expensive and less affordable for the vast majority who aren't rich, ultimately dragging the economy down.

That's because 60-70 percent of Japan's GDP comes from consumer spending. Prosperity spreads out from the middle, it doesn't trickle down from the top.

Ask Canada, Portugal and others who found that out the hard way, forced to end their "investor" or "gold" visa programs after discovering that their own middle class people could longer afford to pay their rent.

4 ( +7 / -3 )

It’s everywhere the same in Western countries and it won’t work well. They all tell the same lies and ‘desperately’ look for external experts and investors from the whole globe, but don’t even consider for five seconds just to give the own people a smallest chance or perspective and treat own citizens like garbage. How about young people especially or better just everyone who is already here to enable getting such a master’s degree or higher and income of 20mln.¥ or more? That would quickly change the situation massively for all sides involved and the economy as a whole , even including generating higher birth rates. Fully ignoring or showing such a disrespect to own population and citizens and just only relying on immigration of blue collar workers, and even more rare, a few white collar and already rich super IQ experts, as it is practiced now, that’s of course an illusion and complete misleading path.

5 ( +7 / -2 )

The measures seem based on a fatally flawed assumption - that the presence of lots of rich people improve your economy. In fact, they make it more expensive and less affordable for the vast majority who aren't rich, ultimately dragging the economy down.

Exactly. In a much smaller scale, a good example would be when all the New Yorkers invaded a small town in the country side to seek "cheaper living" during the pandemic all while continuing to earn their normal New York wages. This drove housing prices up and the original townspeople had to either move out or live on the streets.

5 ( +5 / -0 )

At the current rate of inflation, we might see a 100 trillion yen investment while seeing no actual increase in the actual value of investment. I suppose this is the main reason for the update in the figure.

-1 ( +2 / -3 )

Something's backwards here, NOMADS go to markets that offer $incentives$, NOT investment requirements!

0 ( +1 / -1 )

It appears that Japan wants to be the next splattered version of an unequal, neo-colonized UK.

Assets will be held by wealthy foreigners, and the country's politics will be held hostage by Asian players through their control of resources, commerce, labor, and innovations against Japan.

Japan will aim to attract 100 trillion yen worth of foreign direct investment by 2030, and more foreign talent and remote workers known as "digital nomads," as part of its drive to boost economic growth and global competitiveness, the government said Wednesday.

"Digital nomads" can be synonymous with foreign dark money. I remember that Governor Ishihara once promised to prevent the Chinese from economically controlling Japan. Yet, Chinese investors have already controlled almost all core assets in Japan, while many of them have permanent residency or Japanese citizenship.

https://asia.nikkei.com/Business/China-tech/Chinese-tech-entrepreneur-bets-big-on-Japan-but-not-China

https://www.ft.com/content/2f7c7a10-2df3-4f1b-8d2a-eea0e0548713

Many of these dark-money Chinese are tech entrepreneurs that can fit the categories of a digital nomad. Jack Ma even moved to Japan and purchased a huge mansion. He is always accompanied by a secretive circle of Chinese elites in Japan, and Japanese xenophobes remain ignorant to be aware of.

At the current rate of inflation, we might see a 100 trillion yen investment while seeing no actual increase in the actual value of investment. I suppose this is the main reason for the update in the figure.

Or the money will never materialize.

Japan has been famous for making thin-air promises of big money. We don't even have a concrete idea of where the money will come from.

After the fiasco with commercial airliners, I highly doubt Japan can rally much money.

-8 ( +5 / -13 )

Nobody want to work in Japan,as a second class citizen

-9 ( +0 / -9 )

Digital "nomads" should be wary of living in Japan too long. After 10 years, even on temporary visas, Japan presumes to be able to tax any foreigner's worldwide property and income inheritances, for instance, at the local draconian rates. They even claim this right after one "qualifies" for this dubious distinction a further 2 years even after one leaves this country for good! The top income tax bracket in Japan is the second or third highest in the world, right now. All gifts, meanwhile, over 1.2 million yen annually are further subject to taxes that quickly rise to be as high as 55%!

These and many, many other such onerous "soak the foreigners" stances put in place by the bureaucrats who actually run this country make Japan an unlikely destination for most of the world's talented. And all this while saying nothing about the formidable cultural and language barriers Japan offers the average "outside country person". One could do much, much better elsewhere, to be honest, for a whole host of reasons.

-8 ( +1 / -9 )

Word travels fast in digital era, transparency creates accountability, so more than ever it's Put up or Shut up.

Nomads are investment Japan NEEDS, not vice-versa.

Thanks for sharing below, I'd advise use of trusts and other techniques to shield, for any at risk/concerned.

Digital "nomads" should be wary of living in Japan too long. After 10 years, even on temporary visas, Japan presumes to be able to tax any foreigner's worldwide property and income inheritances, for instance, at the local draconian rates. They even claim this right after one "qualifies" for this dubious distinction a further 2 years even after one leaves this country for good! The top income tax bracket in Japan is the second or third highest in the world, right now. All gifts, meanwhile, over 1.2 million yen annually are further subject to taxes that quickly rise to be as high as 55%!

> These and many, many other such onerous "soak the foreigners" stances put in place by the bureaucrats who actually run this country make Japan an unlikely destination for most of the world's talented. And all this while saying nothing about the formidable cultural and language barriers Japan offers the average "outside country person". One could do much, much better elsewhere, to be honest, for a whole host of reasons.

-7 ( +0 / -7 )

Septim DynastyToday  05:37 pm JST

It appears that Japan wants to be the next splattered version of an unequal, neo-colonized UK.

Assets will be held by wealthy foreigners, and the country's politics will be held hostage by Asian players through their control of resources, commerce, labor, and innovations against Japan.

Good analysis, my take's BOJ clear intent to control and own EVERYTHING of value. Nobody's coming to invest, BOJ's rigged market, just sales offices needed!

-5 ( +0 / -5 )

Hence Human & Financial Capital OUTFLOWS continue

-2 ( +0 / -2 )

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