NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Japan visitors top 3 million for third month as yen fuels boom

Published 06/19/2024, 10:39 PM
Updated 06/19/2024, 10:41 PM
© Reuters. FILE PHOTO: Visitors stroll at Kiyomizu-dera temple, a popular attraction among tourists, in Kyoto, western Japan June 18, 2022. Picture taken June 18, 2022.  REUTERS/Satoshi Sugiyama/File Photo

By Rocky Swift

TOKYO (Reuters) - Japan had more than 3 million visitors for a third straight month in May, official data showed on Wednesday, as the weak yen helped continue a record pace for inbound tourism.

The number of foreign visitors for business and leisure was 3.04 million last month, steady from the level in April, and down slightly from the all-time monthly record in March, data from the Japan National Tourism Organization (JNTO) showed.

Arrivals last month were up 60% from the same period last year and 9.6% higher than in May 2019. Japan had a record 31.9 million visitors in 2019 before the COVID-19 pandemic shut global borders.

The weak yen, languishing at a 34-year low against the dollar, is helping fuel a tourism boom in Japan. That's good news for the economy, with travellers spending a record 1.75 trillion yen ($11.1 billion) in the first quarter of 2024, according to the JNTO.

But the influx has raised concerns of "overtourism" at visitor hot spots. On Monday, the mayor of Himeji in western Japan floated the idea of charging foreigners three times the standard 1,000 yen fee to enter the city's famous samurai-era castle, the Asahi newspaper reported.

In explaining new trail fees to curb overcrowding on Japan's sacred Mt. Fuji, Yamanashi prefecture governor Kotaro Nagasaki told reporters this week the country should focus on attracting "higher spending visitors" over sheer masses of people.

Chinese travellers, previously the biggest contingent of Japanese tourists, are still about 30% lower than pre-pandemic levels. But travellers from other markets are picking up the slack, such as Indian visitors who reached a monthly record in May, JNTO data showed.

Dalia Feldman, marketing director for Tourist Japan, said her firm has seen an 11-fold increase in inquiries from India in the past year, while those from the United Arab Emirates are up almost eight fold.

© Reuters. FILE PHOTO: Visitors stroll at Kiyomizu-dera temple, a popular attraction among tourists, in Kyoto, western Japan June 18, 2022. Picture taken June 18, 2022.  REUTERS/Satoshi Sugiyama/File Photo

"It appears it is the Japanese cuisine and natural sights that attract them the most," Feldman said. "Most of our Indian and UAE customers will ask to include some more food tours in their itinerary as well as external trips to remote and scenic areas."

($1 = 157.8200 yen)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.