ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Coronavirus

Taiwan rolls out $180 stimulus vouchers in wake of COVID curbs

Taipei expands giveaway from last year, looking to help eateries and hotels

Unlike last year's Triple Stimulus Vouchers program, similar vouchers will be given out for free this year. (Photo by Yu Nakamura)

TAIPEI -- Taiwan will hand out stimulus coupons to consumers again this year, boosting the amount to 5,000 New Taiwan dollars ($179) and encouraging dining and lodging now that the island has eased COVID-19 restrictions.

Taipei will earmark a special budget of about NT$120 billion to fund this year's benefits -- enough to provide one set of vouchers for each of the island's roughly 24 million people. The vouchers, which were announced Thursday, can be used at restaurants, hotels and other businesses from October to the end of April 2022.

Under last year's Triple Stimulus Vouchers program, residents paid NT$1,000 to receive NT$3,000 worth of cash-equivalent coupons. This year, similar vouchers for a greater amount will be given for free.

The stimulus vouchers are expected to boost Taiwan's economy and help retailers, night markets and department stores hit hard by the pandemic, Prime Minister Su Tseng-chang told a cabinet meeting Thursday.

Taiwan remained under stringent coronavirus restrictions, including a ban on indoor dining, for over two months after an outbreak in May that followed many months of successful control. Private-sector consumption slipped 0.41% in the April-June quarter.

The strict protocols have been lifted gradually since the end of July, and Taiwan reported no new cases Wednesday. Now Taipei wants to put consumption back on track with the help of free cash.

The cabinet upgraded its real gross domestic product forecast this month to 5.88% growth for 2021. The third upward revision of the year is driven by strong exports, particularly chips. Taiwan's economy grew 3.12% last year, the strongest expansion in Asia.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more