Japanese Tourism Boosts Economy with Visitor Spending Reaching 7 Trillion Yen Annually, Second Only to Automobile Exports

Reported 9 months ago

Visitor spending in Japan has become a pillar of the economy, with a reported 7.2 trillion yen (approximately 1.46 trillion New Taiwan Dollars) spent from January to March 2024, marking a fivefold increase over the past decade. This spending is now second only to automobile exports in terms of major commercial sectors. The presence of visitor consumption is on the rise in Japan, surpassing electronic components and steel exports. The increase in visitor spending is seen as exceeding the growth rates of major export commodities, indicating a trend towards prioritizing service-based consumption in the country.

Source: YAHOO

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