TOKYO -- Japan will establish a new fund as early as 2018 to support refurbishing traditional architecture into restaurants or lodging as the country tries to attract foreign tourists to energize regional economies.
The Regional Economy Vitalization Corp. of Japan already plays a supporting role in the effort to promote tourism beyond major urban areas. But with that government fund to cease operations in 2023, the new 50 billion yen ($468 million) public-private fund will take over a portion of its functions.
