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Get to Know About Japan
Japan is an island nation sitting off the east coastline of Asia. It constitutes a vast string of islands in the northeast-southwest arc that spans to approximately 2,400 km through the western North Pacific Ocean. The whole land area is consumed up by the country’s four main islands; namely Hokkaido, Honshu, Shikoku, and Kyushu. The capital city is Tokyo in east-central Honshu. Japanese constitute the majority of the ethnic group covering 98.5 percent of the population. The official language is Japanese divided linguistically into the two major dialects of Hondo and Nanto. The population is estimated to be approximately 120 million.
Japan’s economy continues to relatively perform well with its real GDP growing at an annualized rate of 2.1 percent in the last quarter of 2018. The economy is mainly driven by robust gains in public sector investment alongside housing.
Doing business in Japan is promising as the decline in imports has been having a positive impact on GDP. Again, the boom in public investment suggests that the private sector remains at its weaker levels. On the other hand, the government’s intentions on raising the national sales tax to improve on the solvency of the public pension system will hurt consumer spending.
Any investor planning doing business in Japan should consider investing in the household sector due to strong government spending on housing, education, and technological sector services. Japan’s foreign direct investment policies have greatly propelled the country’s economy.