Japan has never seen so many tourists flock to it so quickly. A historic weak yen has made travel cheaper for those who can afford it, and combined with a post-pandemic surge in global tourism, interest in the country has never been higher. More than 14.5 million people visited Japan in the first five months of the year, according to the latest data from the Japan National Tourism Organization, up 70% from the same period last year and on track to surpass 2019’s record 31 million.
Japan is experiencing an unprecedented tourism boom, fueled by a historic weak yen and a surge in global travel. (Unsplash) {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}}
Renowned for its food, cleanliness and futuristic-meets-traditional experiences, the island nation now feels more like a low-cost travel haven than one of the world’s most developed economies, thanks to an unconventional exchange rate: The yen has hovered at a 30-year low in recent months, making everything from a sushi lunch to a premium A5 wagyu steak that much more affordable.
Below are six charts that explain Japan’s unprecedented travel boom.
Sustained Momentum
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Japan welcomed more than 3 million tourists in May, the majority from South Korea, China and Taiwan. More than 1 million Americans made long-haul trips from the U.S. in the first five months of the year, a 50% increase over the same period in 2019. Tourist numbers from 19 markets, including all G7 countries, broke records in May this year. Chinese tourists had lagged behind tourists from the rest of the world since the beginning of the year, but the gap is closing. Japan has proven to be a top choice for Chinese tourists this summer.
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Japan is on track to welcome a record 34 million tourists this year, one year ahead of the government’s goal of surpassing 2019’s tourist numbers, according to a Bloomberg Intelligence analysis. Prime Minister Fumio Kishida has stuck to his long-term goal of attracting 60 million tourists a year by 2030. In contrast, Japanese travel is declining due to lower purchasing power abroad, and overseas travel numbers are still at only about 60% of their pre-COVID peak.
Spending surge
As tourist numbers rise, so too do the amounts of cash they are spending on travel. Thanks to a weak yen that has fallen to its lowest level since 1986, tourist dollars are stretching even further, and people are feeling more comfortable opening their wallets to snap up bargains on everything from hotels and luxury goods to theme park trips.
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Tourists spent a record 1.75 trillion yen in the first quarter of this year, a figure that is likely to soar as more Chinese tourists arrive, spending twice as much as the average tourist, according to the Japan Tourism Agency.
Hotel Rates
Hotel prices in Japan are rising, but they’re still cheap compared to other parts of the world. A weak yen and a hugely popular cherry blossom season helped push domestic hotel rates to a 30-year high in March. The average daily rate was about 20,986 yen ($136), the highest since 1997, according to CoStar Group.
Tokyo’s accommodation costs are on the high side, averaging $177 for the year ending March 2024, but still cheap compared with New York, where the average nightly rate exceeds $300, and Singapore, where it exceeds $250.
Flight demand
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More tourists mean more transportation options. About 37 million flights are scheduled to take off around the world this year, according to industry data compiled by BloombergNEF. And of those, 1 million are expected to arrive in Japan by the end of 2024. It’s not all good news for Japan, as the surge in tourists is putting a huge strain on local transportation and infrastructure.
So if you’re planning a trip anytime soon, it’s unlikely you’ll be traveling solo. But if you’re looking for a bargain, now could be the perfect time to take the trip of a lifetime.
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News / Lifestyle / Travel / Japan tourism surge: Record numbers, rising spending, and what travelers need to know
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