Japan Looks To Attract More Digital Nomads As Part Of Its Updated Foreign Investment Strategy

The country is striving to attract 100 trillion yen worth of foreign direct investment by 2030.

What’s going on:

Despite not offering an official digital nomad visa akin to countries like Portugal or Iceland, Japan still has a strong economic desire to open its doors to foreign talent and remote workers. Part of the country’s new action plan is to draw in an increased amount of foreign investment by attracting digital nomads. The Japanese government said on Wednesday that the plan will help aid the country’s economic growth and allow the country to boost its global competitiveness, according to Japan Today.

Why it matters:

Japan has struggled to draw in global investment and top talent from other countries in recent years. However, that might change as new economic factors are pressuring the country to become more receptive to foreign workers – like digital nomads. Japan is also experiencing the same kind of labor shortages felt all around the globe, and the country is anticipating a big drop in its working population. The government of Japan projects that there will be almost one elderly person for each person of working age by 2060 in the country, according to the International Monetary Fund.

How it’ll impact the future:

By opening its doors more to digital nomads, Japan is acknowledging the growing trend of remote work and the potential benefits it can bring to its own country. This move will create new opportunities for digital nomads because they can benefit from Japan’s advanced infrastructure, technology, and unique culture while contributing to the Japanese economy.

Japan is also considering extending the duration of “startup” visas for entrepreneurs. These changes will make it easier for highly skilled professionals and business owners to establish themselves in Japan.