The Japanese government has established a countrywide competition to revitalize the dwindling alcoholic beverage business, which has been affected by demographic shifts, lifestyle choices, and the coronavirus outbreak.
Following a decline in tax receipts from alcoholic beverages, Japan’s youth are encouraged to drink more to stimulate the economy.
The Japanese government has established a countrywide competition to revitalize a sector that has been declining as a result of demographic shifts, lifestyle preferences, and the coronavirus pandemic.
The Sake Viva! campaign of the country’s national tax agency, which runs through September 9th, solicits suggestions for new “items and designs” to “stimulate demand among young people.”
This includes enhancing Japanese alcoholic beverages such as sake (rice wine), beer, whiskey, wine, and beer.
The tax authority’s campaign website states, “The domestic alcoholic beverage market is shrinking due to demographic changes such as the declining birth rate and aging population, and lifestyle changes due to the impact of the new coronavirus infection.
In this project, we will appeal to young people for the development and promotion of Japanese alcoholic beverages by inviting them to submit their business concepts, and we will also revitalize the industry.
According to The Japan Times, taxes on alcohol goods accounted for 5% of overall revenue in 1980, but only 1.7% in 2020.
As working from home made some progress during the COVID-19 crisis, many individuals may have begun to wonder whether they need to maintain the practice of drinking with coworkers to strengthen communication,” a tax agency official told the newspaper.
“If the ‘new normal becomes entrenched, tax revenues will face an extra headwind,” they added.
