Rising Snow: Balancing Development and Tradition in Myoko's Mega-Resort Boom

Singaporean fund, Patience Capital Group, plans to transform Myoko, Japan with a $1.4 billion mega-resort. While promising 1,000 jobs, locals are concerned about overdevelopment and cultural erosion. Myoko, famed for its 'Japow' snow, faces challenges akin to those witnessed in Niseko and Hakuba's tourism booms.

Japan's Myoko region is on the brink of transformation with a new $1.4 billion mega-resort backed by Singapore's Patience Capital Group. Promising 1,000 new jobs, the project aims to boost winter tourism with accommodations that charge $1,350 per night. However, concerns over cultural preservation emerge as local traditions face potential threats.

While Myoko's pristine 'Japow' snow draws enthusiasts, the influx of foreign investments has stirred apprehensions of overdevelopment. Comparisons to the renowned ski resorts of Niseko and Hakuba suggest possible spikes in property prices and taxes, endangering local businesses and escalating costs for residents.

PCG founder Ken Chan seeks to address these fears by engaging with locals and considering year-round incentives at the resort. Still, the area's increasing allure to foreign investors necessitates careful regulation, as Myoko City mayor Yoji Kido emphasizes the need for sustainable, culturally conscious development.

(With inputs from agencies.)