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Japan: Expo 2025 Osaka expected to boost local economy
Storyline: The World Expo 2025, which opened in Osaka, Japan on Sunday, is expected to boost local industrial transformation and economic growth. It is the second time for Osaka, one of Japan's major cities well-developed in industry and commerce, to host the global event after the Expo 1970. Since the beginning of the 21st century, Osaka has experienced a recession in development as Japan's economic center accelerated its concentration in the Tokyo metropolitan area, with the Osaka Securities Exchange acquired by the Tokyo Stock Exchange. The Expo 2025 Osaka, which is set to last for six months till Oct 13, has been regarded as an important opportunity for Osaka to strengthen its infrastructure and revitalize its economy by boosting tourism. Taking advantage of hosting the Expo, Osaka Prefecture has raised its goal this year of attracting foreign tourists to 16 million, an increase of more than six percent. Osaka has decided to build a comprehensive complex with shopping, entertainment, hotel, exhibition and convention facilities based on the expo park following the event. It is expected to attract 20 million tourist trips from home and abroad every year. The up-front investment in the project will approach 1.3 trillion yen. In addition to tourism, Osaka Prefecture and the city of Osaka also hope to attract more foreign institutions, particularly financial firms. A series of favorable policies, including targeted tax incentives, have been introduced to help Osaka attract 30 international financial institutions by the end of March next year. Shotlist: Osaka, Japan - April 9, 2025: 1. Various of World Expo park, visitors, mascots of Osaka Expo Osaka, Japan - Recent: 2. Various of bridge, traffic 3. Various of tourists 4. Banners wishing Osaka Expo success 5. SOUNDBITE (Japanese) Hideki Sho, director general, Japan External Trade Organization Osaka (partially overlaid with shot 6): "The economic benefits of the Expo are estimated to reach 2.9 trillion yen (around 20.2 billion U.S. dollars), and tourist flow will drive consumption in accommodation, catering, transportation, shopping and other fields." [SHOT OVERLAYING SOUNDBITE] 6. Various of tourists posing for photos, walking [SHOT OVERLAYING SOUNDBITE] 7. Various of tourists, food stall, diners 8. SOUNDBITE (Japanese) Restaurant manager (name not given): "Many tourists come to Osaka, and it's expected to increase our sales. Welcome here, everyone!" 9. SOUNDBITE (Japanese) Souvenir shop manager (name not given): "Osaka has many interesting specialties. I hope tourists can come to see them." 10. Buildings, street 11. Pedestrians. [Restrictions : No access Chinese mainland]
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