The Japanese government has reportedly announced its commitment to embrace the concept of home sharing as the country gets set to host the 2020 Olympics.
Officials said they would begin a full review of how to reform current rules to help accommodate foreign visitors, Airbnb said in an official blog post on Wednesday. Airbnb noted the measures were announced as part of the Japan Revitalization Strategy 2015, an economic growth blueprint that also includes efforts raise the number of foreign tourists to 20 million annually by 2020.
A weaker yen and easier visa procedures have bolstered Japan's attractiveness as a tourist destination, with the number of foreign visitors increasing a whopping 45 percent on year from January to May, according to the Japan National Tourism Organization. The Olympics will likely add to the influx, with the Tokyo metropolitan government estimating the event to bring in 8.5 million tourists, which is more than 2013's total number of visitors.