Japan | Visitor Spending Broke an Annual Record in the First Nine Months of 2024 Alone

 

Japan, island country in East Asia located in the Pacific Ocean off the northeast coast of the Asian mainland, a nation very famous for its cultural and historical heritage with a unique blend of ancient traditions and modern innovations linked to advanced technology including robotics and bullets trains, the third largest economy by gross domestic product and fourth largest by purchasing power parity is experiencing a very successful 2024 as far as its incoming tourism is concerned and on the expenditure of visitors.

Linked to this last aspect data published by the competent Japanese bodies show that visitor spending in the Asian country broke an annual record in the first nine months of 2024 alone.

According to analysts, this figure shows the economic power of the tourist boom that Japan is experiencing, a highly sought-after and attractive destination that has always been experiencing between large, constant tourist flows and the yen, the official currency of Japan currently weak.

Data from Japan's National Tourism Organization indicates that travellers spent 5.86 trillion yen equivalent to $39.27 billion in the country through September, a figure that far exceeds 5.3 trillion yen in the whole of 2023, a year in which it was already a record on its own for any 12-month spending period in the country.

Tourism spending in Japan, which is specifically defined as an export in the national accounts, is on a very good path to becoming and ranking as the second largest export of the Asian country only behind the domestically produced automotive sector.

The data collected by the National Tourism Organization of Japan show that the average visitor to the country spends approximately 223.000 yen on their trip, about $1.484 and in a ranking it would seem that are the Italians who spend the most during their stay in Japan followed by Spaniards and Russians.

Another relevant figure reflects that the number of visitors is regularly reaching new highs since February, in July for example Japan welcomed 3.29 million visitors which is an all-time high for any month on record.

Link -  https://www.expreso.info/noticias/internacional/103128_por_la_debilidad_del_yen_sigue_batiendo_records_el_turismo_en_japon