The number of foreign tourists visiting Japan has surpassed the level before the spread of the novel coronavirus infection (Corona 19) for the first time. Based on the record low yen situation, Japan’s tourism-related industries, such as department stores and airlines, are enjoying unprecedented special benefits.
According to the Japan National Tourism Organization (JNTO) on the 16th, the number of foreigners who entered Japan last month was 2,516,500, an increase of 0.8% compared to October 2019, four years ago. The nationality of those entering the country was Korea (631,100 people), followed by Taiwan, China, and the United States. A total of 5.526 million Koreans came to Japan this year. If this continues, the number of foreign tourists visiting Japan this year is expected to exceed 25 million.
The increase in foreign tourists in Japan is due to the disappearance of COVID-19 and the acceleration of the weak yen phenomenon. The value of the yen fell to its lowest level in 33 years, exceeding 150 yen per dollar.
The won-yen exchange rate fell below 860 won per 100 yen, creating a favorable environment for spending money in Japan. The price of Starbucks Americano coffee (tall size) is 4,500 won in Korea, but in Japan it is 445 yen (3,820 won), which is about 15% cheaper. In addition, the Japanese government provides a 10% exemption from consumption tax applied to industrial products, so in many cases, buying the same product in Japan is about 20% cheaper than in Korea.
Mitsukoshi Isetan, Japan’s largest department store company, has been renewing its 2018 record for duty-free sales every month since July, which was the highest ever. In October, when China had the National Day holiday, sales were 9.7 billion yen (83.2 billion won), 40% higher than in 2018. According to the Japan Tourism Agency, travel spending by tourists visiting Japan from July to September was 1.39 trillion yen (about 12 trillion won), an increase of 17.7% compared to the same period in 2019.
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Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.