Japan's stringent travel restrictions, implemented due to the ongoing Covid-19 pandemic, have resulted in financial losses for many businesses, particularly hitting the hotel segment of the tourism industry. One hotel has reported a loss of 20 million yen due to travellers cancelling their bookings amidst advisories to avoid non-essential travel. The timeline of recovery remains uncertain as Japan and the rest of the world grapple with controlling the spread of the virus.
For Japan, the tourism and hospitality industry plays a vital role in the economy. The government encourages both domestic and international tourism. With the strict travel restrictions followed by the Covid-19 situation, the people and the economy are severely affected.
Unlike in the EU and US, where financial assistance and other forms of stimulus are being provided to businesses affected by Covid-19, Japan has been somewhat slower in offering support.