Coronavirus to cut foreign visitors' spending in Japan by $22 bil.

The new coronavirus outbreak is projected to cut spending by overseas travelers to Japan between February and August by 2.36 trillion yen ($22 billion), a think tank said Wednesday, with figures only expected to return to pre-virus levels next spring.The Resona Research Institute had previously forecast in March that inbound spending from February to June will be reduced by 981.3 billion yen.The think tank assumed the number of foreign visitors in Japan will plummet by 99.9 percent from a year earlier in May -- the same pace of decline as in April shown by data from the Japan Tourism Agency…READ FULL ARTICLE