Reported 9 months ago
According to a report by Nikkei Asia on June 26, 2024, Japan's export focus has shifted from goods to services, with foreign tourists' spending in Japan increasing fourfold in the past decade, becoming the second-largest export category. Foreign tourists' spending exceeded 7.2 trillion yen in the first quarter of 2024, surpassing electronic components, semiconductors, and steel. The weakening yen and the significant growth in foreign tourists' consumption are key factors driving this expansion, although challenges such as overtourism and strains on local infrastructure and labor force are emerging in Japan.
Source: YAHOO