Abstract
Our aim in this paper is to examine “Welcome Plan 21”as a framework of Japanese inbound policy from the viewpoint of the theory of international economics. Particularly, we will analyze it by applying the following theories to some economic aspects of “Welcome Plan 21”: the theory of factor endowments as the production factors of tourism products such as certain natural and cultural resources, human resources, and capital; comparative cost; absolute and comparative advantages; exchange rate; the demand theory of international trade. And finally, we conclude that in achieving the aim of “Welcome Plan 21”, we must use all of the tourism resources from the viewpoint of comparative advantage between our country and another countries, and also, we have to fill up the activities of marketing and advertising in Asian regions.
