Monday, June 17, 2024

Allergy season drags Japan’s economy of $2.74 bn in spending: Report

Japan’s hay fever season this year stood to suppress consumer spending by 383.1 billion yen ($2.70 billion), local media reported.

Higher pollen levels would push down real household spending by 383.1 billion yen in the January-March quarter compared with an average year, Nikkei Asia reported on Sunday, citing recent estimates by Dai-ichi Life Research Institute.

Toshihiro Nagahama of the institute said that the study anticipated more allergy sufferers staying home, cutting into consumption for leisure and eating out, Xinhua news agency reported.

The Japanese government hammered out measures in May with the goal of cutting the pollen count in half over 30 years, vowing to accelerate work to cut down and replace cedar trees, a source of pollen known to trigger hay fever, cause allergies for millions of people in Japan.

Japanese Prime Minister Fumio Kishida said that hay fever is a cause of suffering for many citizens and a social problem that has not been addressed effectively, adding that a long-term approach is needed. (1 Japanese yen equals 0.0071 US dollar)

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