Japan’s third-quarter growth rate -0.8%…Negative Japan’s economic growth rate again fell negative for the first time in half a year due to the spread of COVID-19. Japan’s Cabinet announced on the 15th that real gross domestic product (GDP) fell 0.8% in the third quarter (July-September) from the previous quarter. The growth rate turned from -1.1% in the first quarter to 0.4% plus in the second quarter, but turned negative again. With the spread of COVID-19 at its peak this summer, emergencies took effect throughout the country and consumption declined, which seems to be the main reason for the worsening growth rate. In late August, the number of new confirmed cases exceeded 25,000 a day, experiencing the so-called “fifth wave infection. “The Tokyo Olympics opened in July but failed to boost the economy. This is because the game was held without spectators except for some regions, and most of the side events were canceled. Jun Takeda, a senior economist at private research institute Ito Chusoken, analyzed in an interview with Bloomberg News that home appliance replacement and product sales made some progress during the Olympics, but the impact of the spread of COVID-19 infection was greater and the Olympic effect was “completely erased. “In detail, private final consumption expenditure fell 1.1%. Private facility investment also fell 3.8%. Trade activities were also low, with exports and imports falling 2.1 percent and 2.7 percent, respectively. According to the contribution by item, domestic demand has lowered its growth rate by 0.9 percentage points. The Japanese government expressed its view that the economy is in a recovery phase but needs policy support. According to Kyodo News, Japanese economy regeneration minister Daishiro Yamagi said at a press conference that “the economy continues to recover, but the pace is weak and needs to be supported by policies. “In a “World Economic Outlook” report released last month by the International Monetary Fund, Japan’s economic growth forecast for this year was 2.4%, 0.4 percentage points lower than before. The cumulative number of COVID-19 confirmed patients worldwide is 252,763,462 (5,0950,041 deaths). As of 9 a.m. on November 16, the cumulative number of confirmed patients was 9.5 million in the UK, 9.1 million in Russia, 8.4 million in Turkey, 5 million in Germany, 3.2 million in Ukraine, and more than 3.2 million in Poland, and Chile was higher than in Japan. The U.S. Centers for Disease Control and Prevention (CDC) adjusted the travel warning for Japan to the lowest level 1 on the 15th (local time). According to CNN and Reuters, the CDC lowered travel warnings in Japan, Gambia, India, Liberia, and Mozambique to the first level. On the other hand, the Czech Republic, Hungary, and Iceland, where the number of new COVID-19 confirmed cases has soared recently, have risen to the highest level of four. The CDC grade includes the first stage of recommending completion of vaccination before travel and the second stage of recommending non-essential travel restraint for non-vaccinated people at risk of serious illness. Step 3 recommends refraining from non-essential travel for non-vaccinated people regardless of the risk of serious illness. The highest level 4 recommends avoiding travel to these countries.
Japan’s CDC recommendation went down to the first stage on the day, but the U.S. State Department’s travel warning is still in the third stage. In Japan, the number of COVID-19 infections has decreased significantly. The number of new patients in Japan on the 15th was less than 100 in two weeks since the 1st, and only one death occurred. Korea maintains three stages in both CDC and State Department travel warnings. In June, the State Department significantly eased the alert by designating Korea as a first-phase country with the lowest risk, but in August, it was raised to the second level. In October, it was upgraded from the 2nd level to the 3rd level. It is said that Japan seems to have returned to its old days. It has been continuing its extreme containment policy of “banning all new foreigners from entering the country” since the beginning of this year, saying it will prevent COVID-19. An exchange student could not go to Japan, so he took video classes in Korea and a Sunday correspondent wrote articles related to Japan in Korea. There are 370,000 foreigners who cannot go to Japan even after being qualified to enter the country. Even though I say I’m opening the door, I still do a little bit. However, it is said that there is no backlash in Japan. I hear that Japan resembles North Korea.
These days, the average number of new COVID-19 confirmed cases in Japan is around 200 per day. There were 79 people on the 15th. Considering three months ago, when there were more than 25,000 people, I think it was the same country. Group immunity and a strong floating population are cited as reasons along with border blockade. Rumors have even emerged that the virus will naturally disappear. It is called a miracle or a mystery. It should be said that he is good, but the limitations of the shutdown are clear in the past and now. It is said that the competition rate was 20 to 1 as Japanese people flocked to participate in the Korean in-flight meal experience event held in Tokyo three days ago. Many Koreans will also want to take a flight to Japan. People must come and go, too. In the past 15 days, campaigns “2021 Korea Festa, Takara Korea (so Korea)” held in both Korea and Japan have been completed. The event, which has been held since the 29th, is a large-scale online and offline campaign that allows the Korea Tourism Organization (President Ahn Young-bae) to prepare for a trip to Korea targeting the Japanese market visiting Korea. The corporation’s three local overseas branches in Japan (Tokyo, Osaka, and Fukuoka) held events at the same time. From the 13th to the 14th, more than 5,000 visitors lined up at the Fukuoka Airport International Terminal, focusing on experiencing various themes of travel to Korea, including dramas, K-pop, musicals, food, performances, and local tourism. At the “Korea Tourism Village,” decorated with the theme of Ikseon-dong and Itaewon, popular tourist destinations in Korea, visitors with virtual passports and virtual flight tickets to Korea experienced Korea as if they were traveling abroad after checking their body temperature. In “Travel to Drama Filming Site” and “Experience of Drama Main Character” using VR technology, slap-match and dalgona experiences were very popular. In the food experience zone decorated with Korean cart bars, Korean-style cafe experiences such as fat carons as well as tteokbokki and chicken were particularly popular with the MZ generation. Visitors continued to visit Boksundo Island, a traditional makgeolli brewery. On the 14th, a Korean tourism talk show hosted by singers Kim Jae-joong and CNBLUE was held at the Millennium Hall of Incheon International Airport. 150 online panels and 65,000 people who participated through the competition ratio of 12 to 1 also participated through live broadcasts. At the events held in Tokyo and Osaka, local consumers who expected to travel to Korea and the Korean Wave were also enthusiastic.
At the Tokyo event, Japanese K-musical enthusiast Kazuki Kato, Hitomi Honda from K-pop group IZ*ONE, and comedian combination School Zone, which is gaining popularity in Generation Z, appeared to show off their love for Korea. Visitors who broke through the competition rate of 20 to 1 enjoyed bibimbap and Korean seaweed at Asiana Airlines’ in-flight meal experience event. At the Korea Tourism Mini Fair held in Osaka, major local governments such as Busan, Jeju, and Jeonnam, and the aviation industry participated in the promotion.
More than 2,800 people applied for the Hallyu special talk event, more than three times the number of applicants, featuring the male idol group “Engine,” which debuted through the Japanese version of “Produce 101,” and popular actor “Sakurada Dori,” a former mask rider. Kim Yong-jae, head of the Northeast Asia team at the corporation, said, “It is time for intensive marketing to attract tourists and attract the Korean Wave boom in Japan to restore the travel industry early in line with the phase-by-phase recovery atmosphere.”
Sam Kim
Asia Journal
