New 'Cool Japan' strategy aims to generate 50 tril. yen

Government officials in Japan are banking on soft power to deliver big economic benefits over the next decade. They've devised a new "Cool Japan" strategy that they say will elevate the culture on the world stage and deliver profits in the process.

The strategy involves increasing the spread of Japanese anime, food, and other aspects of the culture overseas, in a bid to generate more than 50 trillion yen, or about 320 billion dollars, by 2033.

Prime Minister Kishida Fumio has instructed his ministers to put the plan into action as soon as possible.

The strategy specifies that the government will do more to promote anime, video games and other digital works abroad.

It will also invest in services that use Japan's natural and cultural assets to draw in more tourists from overseas.