"Minpaku" lodging service to take off in Japan with June deregulation

Property owners will be able to rent out their homes to tourists just by notifying municipalities from June under a new law that is expected to kick-start the "minpaku" business in Japan ahead of the 2020 Tokyo Olympics and Paralymics.The law is designed to cope with a sharp increase in foreign visitors and a consequent shortage of accommodation, a trend expected to continue toward the Tokyo games.Japan has seen a surge in inbound tourists in recent years, with the number hitting a record of over 28 million in 2017 and the government setting a goal of 40 million in 2020.Offering accommodati…READ FULL ARTICLE