Will Kyoto go bankrupt? Japan’s ancient capital swims in debt as coronavirus keeps foreign tourists away

Kyoto, the ancient Japanese capital that tourists flocked to in their millions pre-pandemic, is in danger of going broke as it struggles to offset billions of dollars in debt racked up through big-budget infrastructure projects with persistently low tax receipts and millions in lost tourism revenue.Just a few short years ago, the city synonymous with Japan’s history, culture and traditional architecture would play host to as many as 50 million domestic and international visitors annually.But…

Read the original article at South China Morning Post