Find in the news:
BY COUNTRY

Tokyo's malls and restaurants will welcome the Olympics without tourists



Hoteliers, restaurateurs, and retailers are preparing to calculate losses due to the lack of foreign tourists.
Tokyo's malls and restaurants - Depositphotos

Shopping centers, stores, hotels, and restaurants in Japan will lose their planned profits amid the Japanese authorities' decision to ban foreign tourists from visiting the Olympics. Businesses risk falling into an even greater crisis, which began in the spring of 2020. 

Hoteliers, restaurateurs, and retailers hoped for the best with the leading sports event and the arrival of tens of millions of foreign tourists, but their hopes were not destined to come true. Business owners invested tens of billions of yen in development in the run-up to the games in the hope of attracting additional traffic, says Retail News Asia. 

In 2020, tourist traffic to the Rising Sun Land dropped from 32 million to nearly zero. Against the backdrop of restrictions and falling revenues, many sectors were hoping to recover their losses precisely during the Olympic Games. Last week it became known that the Games will be held without foreign spectators, and sports teams will reduce their delegations to a minimum. 

Local developers who invested hundreds of yen in constructing new facilities before the Olympics also face losses. Tokyo Corp. spent $110 billion on new projects over three years. One of the most notable was the 230-meter-high Shibuya Scramble Square glass tower. Large department stores are also preparing to incur further losses - in central locations, and tourists provide them with up to half of the proceeds.

Photo credit: depositphotos.com.

More about shopping malls in Japan



YESTERDAY, Spain:
The new store on Paseo de Gracia reflects the brand's British style
Sep 29, 2022, Russia:
The third quarter was strongly influenced by the decision to cease sales in Russia and the subsequent closure of the business.
Sep 28, 2022, United Kingdom:
IKEA cooperates with British grocery giant Tesco, launching a new service.
Sep 27, 2022:
McDonald's Japan has been raising prices on about 60% of its products since September 30.
Sep 22, 2022, France:
Palm Angels expands its geography and enters the French market with the opening of a store in Paris.
Sep 20, 2022:
The new retail space will appear in the trendy Garosu-gil neighborhood of Seoul.
Friend
and Follow
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
Designer Outlet Provence GLA:269 098 SF
ADDRESS: Mas de la Peronne, Miramas, France
France . Miramas
Designer Outlet Provence
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet
FAN Mallorca Shopping GLA:592 015 SF
ADDRESS: C/ Cardenal Rossel, S/N. 07007 Palma de Mallorca
Spain . Palma
FAN Mallorca Shopping


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us