When the Bubble Burst: Planning and Reality in Japan's Resort Industry

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Abstract
The harbingers of the economic crisis that hit Japan in the latter part of 1990s were clearly visible since at least the beginning of the decade. An assessment of the effects that the bursting "bubble economy" had on Japan's domestic tourism market provides important guidelines for future economic policies within Japan, and has implications for other Asian countries where Japanese tourists and companies provide export earnings and investments. In 1987, prospects seemed bright for the Japanese economy and the tourism industry. That year, the "Law for the Development of Comprehensive Resort Areas" was passed making the creation and development of domestic holiday and leisure facilities a national project. Japan's prefectures were to implement a land development framework covering 18% of Japan's land area. Development was to be realised by private entrepreneurship, which would be attracted by financial incentives and a relaxation of landuser egulations. Ten years later, very few projects have materialised and most of these include considerable public investment. A geographical perspective proves helpful in analysing the background of the Resort Law, its plans and projects, problems hampering their realisation, and the reason why they were so strongly affected by the economic crisis. It is argued that the roots of the problem lay in spatial conditions and the structure of planning and investment rather than in declining domestic tourism demand.

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