In just three winters, Japan’s Myoko highlands will welcome a $1.4 billion luxury resort, spearheaded by Singapore-based Patience Capital Group (PCG). With nightly hotel rates reaching approximately $1,350, the project promises to generate 1,000 jobs and boost winter tourism in the region.
However, for many locals, the influx of foreign investment presents a dilemma—while it brings economic opportunity, it also fuels fears of overdevelopment, soaring costs, and the erosion of traditional culture.
Even before PCG’s ambitious project was announced, Akakura—one of Myoko’s five major ski towns—had already seen a wave of foreign acquisitions, with inns, ski rental shops, and restaurants being bought up by investors. But these businesses primarily operate during peak winter months and shutter once the snow melts, leaving the town desolate for much of the year.
“If you visit Akakura in summer, the place is pitch dark at night,” lamented Masafumi Nakajima, owner of the local Furuya Inn and head of the town’s historic hot spring tourism association. He estimates that only about 10 of Akakura’s 80 inns remain open year-round.
Situated roughly 2.5 hours from Tokyo in Niigata Prefecture, Myoko, along with renowned Japanese ski destinations like Niseko and Hakuba, is famed for its deep, powdery snow—often dubbed "Japow." The region has become a major draw for international tourists, a trend further amplified by a weak yen. In February alone, inbound tourism surged 17%, setting a record for the month.
Despite the economic boom, Nakajima expressed concerns over foreign business owners’ reluctance to integrate with the local community. Many have opted out of joining the tourism association, leading to an increase in issues such as improper garbage disposal, illegal parking, and disruptive late-night fireworks.
“We don’t know who they are or what they’re doing. They arrive in December and vanish by spring,” Nakajima remarked. In an effort to bridge the gap, he has recently started reaching out to foreign-run businesses, offering educational sessions on local regulations.
As Myoko grapples with this delicate balance between growth and preservation, the town stands at a crossroads—welcoming global investment while striving to safeguard its identity and traditions.