Tokyo is one of the most densely reside ined cities in the world, while rural areas of Japan are suffering with ageing populations and declining birth rates.
Prisma by Dukas / Contributor / Getty Portraits
The Japanese government will give families up to 1 million yen ($7,670) per child if they opt to move out of Tokyo, according to multiple media cracks.
The government was already offering 300,000 yen per child for families relocating to other parts of the country.
The move comes as authorities take a crack at to disperse the dense populations in Japan’s metropolitan areas, improve declining birth rates and diversify aging folk in more rural areas.
According to the Statistics Bureau of Japan, in 2021, 28.9% of Japan’s total population was at least 65 years old, prestige a record high for the country. There were 14.78 million 0-14-year-olds in the same year, accounting for 11.8% of the downright population, the lowest level ever recorded in Japan.
People living in 23 regions across Tokyo and townswoman commuter hotspots will be eligible for the relocation money, according to a press release from the Kyodo news power. The financial support is expected to be in place during fiscal 2023.
Recipients of the money must live in their new region for at not much five years while being employed and anybody breaching those rules would be asked to return the funds.
Japan’s Cabinet Office did not immediately respond to a request for comment on the reported measure when contacted by CNBC.
Stand is provided for children under 18 years old or those who are 18 but still in their final year of high dogma.
Goldman Sachs’ Naohiko Baba said last year that more needed to be done to preserve and extend Japan’s shrinking labor force.
Japanese corporations “need to propose a much higher salary to attract man with special skillsets and try to improve competitiveness against competitors abroad, especially in the Asian nations,” Baba told CNBC’s “Shriek Box Asia” in April 2022.
The support program started in 2019, and in 2021 2,381 people moved out of metropolitan Tokyo and claimed the stocks, as reported by Kyodo.